The Human Action Podcast

Bob quotes from David Ricardo to show that the classical economists understood that utility was essential to explaining market value, but then he also explains why the Marginalist Revolution was a scientific advancement.Bob's Journal of Libertarian Studies Article on The Labor Theory of Value: Mises.org/HAP462aHuman Action Podcast Episode 460, "What Does Say’s Law Really Say?": Mises.org/HAP462bDavid Ricardo, On the Principles of Political Economy and Taxation: Mises.org/HAP462cFor the next two weeks only, get a FREE copy of Dr. Per Bylund's How to Think About the Economy: Mises.org/HAPodFree

With recent market turbulence and new potential recession indicators emerging, Peter St. Onge joins Bob to examine whether market performance accurately reflects the true state of economic health. There is rising debt, growing entitlements, and ongoing structural issues within the US economy, Bob and Professor St. Onge analyze how these factors contribute to our current economic landscape and whether recent developments are indicative of a 1987-style crash or a 2008-style crash.They also explain the Japanese carry trade, its impact on the dollar and Japanese markets, and the recent market fluctuations, including the significant decline in the Japanese stock exchange and the S&P 500. Dr. St. Onge, "Is it Black Monday or Another 2008?": Mises.org/HAP461aThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Bob goes solo to give the historical context and true meaning behind "Say's Law," as well as the caricature presented by Keynesian critics.J.B. Say's A Treatise on Political Economy: Mises.org/HAP460aJames Mill, "On the Overproduction and Underconsumption Fallacies": Mises.org/HAP460bThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Recorded in front of a live audience at the 2024 Mises University, Bob discusses recent market turbulence with Mark Thornton. They also delve into the Skyscraper theory and the practicality of the Austrian Business Cycle Theory.Mises University is the world’s leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstreamDr. Thornton’s Minor Issues Episode on the Inverted Yield Curve: Mises.org/HAP459aThe Skyscraper Curse: Mises.org/HAP459bDr. Thornton's Article From 2004 on the Housing Market: Mises.org/HAP459cThe Inverted Yield Curve from Understanding Money Mechanics: Mises.org/HAP459dBob’s Econlib Article on Fiscal Austerity and Tax Rates: Mises.org/HAP459eJoin Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Prompted by a listener request, Bob gives the standard economic analysis of tariffs and other types of taxes. This is relevant because the populist Right is arguing for a hike in tariffs to fund income tax cuts.Bob's Article, "Carbon Taxes and the 'Tax Interaction Effect'": Mises.org/HAP458aTrump-Biden Tariff Tracker: Mises.org/HAP458bBob and Dave Smith on Open Borders: Mises.org/HAP458cFrédéric Bastiat's Candlestick Makers' Petition: Mises.org/HAP458dJoin Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Jason Purcell is an analyst at a major financial institution with a specialty in bond analysis. He joins Bob to discuss his historical analysis of yield curves (in both UK and US) going back to the 1870s, which shows that central banks do indeed manipulate short-term interest rates.Bob's Article on the Inverted Yield Curve: Mises.org/HAP457aGoerge Selgin's Cato Article on the Fed: Mises.org/HAP457bThe Charts Referenced in this Episode: Mises.org/HAP457cJason's Twitter: Mises.org/HAP457dPurcell Investment Research: Mises.org/HAP457eRead More on Jason's Substack: Mises.org/HAP457fJoin us in Fort Myers, Florida, on November 9, 2024, to cut through the political noise and discuss the state of the economy. Distinguished speakers Tom DiLorenzo, Mark Thornton, and Murray Sabrin will challenge prevailing economic myths and take a critical look at the US political theater, offering insights into how political interventions distort our economy. It’s an opportunity to move beyond partisan rhetoric and examine the way the government affects our lives and livelihoods. Register now: Mises.org/FtMyers24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Bob critiques MMT godfather Warren Mosler's recent interview on the Odd Lots podcast, where Mosler argued that the Fed rate hikes have been fueling the strong economy.Bob's Critique of Stephanie Kelton's MMT Documentary: Mises.org/HAP456aJoin us in Fort Myers, Florida, on November 9, 2024, to cut through the political noise and discuss the state of the economy. Distinguished speakers Tom DiLorenzo, Mark Thornton, and Murray Sabrin will challenge prevailing economic myths and take a critical look at the US political theater, offering insights into how political interventions distort our economy. It’s an opportunity to move beyond partisan rhetoric and examine the way the government affects our lives and livelihoods. Register now: Mises.org/FtMyers24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Are wealthy people getting wealthier because they work harder? Dr. Jonathan Newman is back on the show to discuss Robert Reich's latest videos about debunking economic myths.Robert Reich incorrectly blames the free market when businesses act on incentives provided by the government. He condenses this information into short, impactful videos for his audience. However, most of what Reich talks about isn't really economics. And when he does discuss economics, he relies on flawed assumptions that have been meticulously refuted over the past century. Bob and Dr. Newman dissect the misconceptions and provide some insights.Robert Reich's "Debunking Economic Myths" Episode 3: Mises.org/HAP455aRobert Reich's "Debunking Economic Myths" Episode 4: Mises.org/HAP455bDr. Newman's Post on Reich's Episode 5: Mises.org/HAP455cJoin us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hilton Head, South Carolina. Registration is open for Mises Members at Mises.org/SS24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Kyle Anzalone from AntiWar.com and the Libertarian Institute joins Bob to discuss the timeline of Wikileaks and why the US government disliked Julian Assange.This week, Assange was offered his freedom in exchange for admitting to espionage charges, but what exactly did he do? And how can the US prosecute Assange when he is not a US citizen? Bob and Kyle review the facts, including how Wikileaks began, the information they leaked, and the reasons behind Julian Assange's arrest.Kyles Article on AntiWar.com: Mises.org/HAP454aKyle's Libertarian Institute Page: Mises.org/HAP454bJoin us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hilton Head, South Carolina. Registration is open for Mises Members at Mises.org/SS24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Bob continues his feud with George Selgin, explaining why the alleged free banking period in Scotland doesn't show that free-market banks would carry low reserve ratios.Reason Debate Between Bob and George Selgin: Mises.org/HAP453aGeorge Selgin Interview on Free Banking: Mises.org/HAP453bSelgin's Response to Bob on Twitter: Mises.org/HAP453cRothbard's Economic Controversies: Mises.org/HAP453dJoin us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hilton Head, South Carolina. Registration is open for Mises Members at Mises.org/SS24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

In a new YouTube series, former US Secretary of Labor Robert Reich promises to explode ten "economic myths." Jonathan Newman joins Bob to respond to the first two episodes in the series, regarding whether economics is an objective science, and whether government intervention interferes with a free market.Robert Reich's 'Debunking Economic Myths' Series: Mises.org/HAP452aBob's JLS Article on Kevin Carson's Studies in Mutualist Political Economy: Mises.org/HAP452bDr. Newman Debunking Robert Reich's First Myth: Mises.org/HAP452cDr. Newman Debunking Robert Reich's Second Myth: Mises.org/HAP452dThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Economics researcher Joakim Book joins Bob to discuss his recent article on the dollar's international dominance at the American Institute for Economic Research. US Sanctions incentivize foreign governments to find alternatives to the dollar, but none have successfully escaped Washington's grip. Joakim argues that alternative payment systems are in the works, but even international banking transactions still use US banking systems. How much longer will the US dollar be the king currency? Why aren't foreign Governments fleeing to BTC and Gold? Bob and Joakim discuss.Joakim's Article at the AIER: Mises.org/HAP451aThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Jonathan Newman returns to help Bob dissect a Twitter thread melting down about Rep. Massie's new bill to End the Fed.The X thread discussing the "End the Fed Bill": Mises.org/HAP450aSelgin, Lastrapes, and White, "Has the Fed Been a Failure?": Mises.org/HAP450bBob's Article, "Putting the Country Back on Gold": Mises.org/HAP450cThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/MoneyHuman Action Podcast listeners can get a free book: Mises.org/HAPodFree

Garett Jones is Associate Professor of Economics at the Mercatus Center at George Mason University. He joins Bob to discuss his book, detailing the impact that immigrants' culture has on the institutions of their new home.Professor Jones' New Book, The Culture Transplant: Mises.org/HAP449aThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/MoneyHuman Action Podcast listeners can get a free book: Mises.org/HAPodFree

Mateusz "Matt" Machaj holds a PhD in economics and is a Fellow with the Mises Institute, who has also won both the Douglas E. French and the Lawrence Fertig prizes in Austrian economics. He joins Bob to discuss his new booklet from Routledge, which explains how mainstream economists have responded to the recent bout of price inflation.Dr. Machaj's Monetary Policy and Inflation: Mises.org/HAP448aBob's Book on MMT, Understanding Money Mechanics: Mises.org/HAP448bBob's MisesU Lecture, "Price Inflation: Corona vs. QE": Mises.org/HAP448cThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/MoneyHuman Action Podcast listeners can get a free book: Mises.org/HAPodFree

Stephanie Kelton is the star of a new documentary film touting the alleged brilliance of Modern Monetary Theory (MMT). Murphy gives a comprehensive critique of the film, covering the flaws in its theory, history, and policy recommendations.Finding the Money Documentary: Mises.org/HAP447aBob's Book on MMT, Understanding Money Mechanics: Mises.org/HAP447bRadford's Paper on P.O.W. Camps: Mises.org/HAP447cThe Upside-Down World of MMT: Mises.org/HAP447dBob's Article on Debt and Future Generations: Mises.org/HAP447eBob's Article on The Origin of Specie: Mises.org/HAP447fThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/MoneyHuman Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree

The Mises Institute's Connor O'Keeffe recently wrote an article detailing the campus protests over the happenings in Gaza. Connor joins Bob to discuss his article, the recent antisemitism bill, and why we should be defunding universities. Connor's Article on the Campus Protests: Mises.org/HAP446aHuman Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree

Recently on Twitter, as a reaction to an FT post worrying about the growing debts of various governments, fans of MMT were posting screenshots from a May 2020 FT debate involving Stephanie Kelton. The implication was that Kelton had correctly predicted that government debt would be benign. Bob and guest Jonathan Newman dissent.Stephanie Kelton and Edward Chancellor's Debate on Government Debt: Mises.org/HAP445aMartin Wolf's Article on Government Debt: Mises.org/HAP445bBob's Debate with Warren Mosler on MMT: Mises.org/HAP445cBob and Jonathan's Episode on Price Inflation: Mises.org/HAP445dBob's Article on the Economic Outlook for the US: Mises.org/HAP445eHuman Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree

Historian David Beito has a new book from the Independent Institute titled, "The New Deal's War on the Bill of Rights." He joins Bob to discuss issues such as the Japanese concentration camps and the government's mass surveillance of telegrams.David's new book, The New Deal's War on the Bill of Rights: Mises.org/HAP444aHuman Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: Mises.org/HAPodFree

Simon Guenzl joins Bob to push back on Dave Smith's recent appearance, where Dave had made the case against open borders. Guenzl has published a libertarian critique of the Hoppean framework. The debate revolves around the status of government property. Bob plays devil's advocate, especially with a lightning round of "hard cases" for Guenzl at the end.Simon's paper, "Public Property and the Libertarian Immigration Debate" in Libertarian Papers: Mises.org/HAP443aDave Smith on Open Borders: Mises.org/HAP443bBob on Blockades and Immigration in a Voluntary Society: Mises.org/HAP443cHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree

Nick Gillespie, editor-at-large for Reason, recently got into a friendly dispute with Bob over whether American libertarians were being too pessimistic. He joins Bob to make the case for optimism, while Bob demurs.Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree

On March 26 Bob gave this talk at Oklahoma State, where he was invited by the Free Enterprise Society. He assumed the students had no prior knowledge of the topic and made the case, from scratch, for a voluntary society with privately provided legal and defense services.Bob's article, "Libertarian Law and Military Defense" in Libertarian Papers: Mises.org/HAP441aHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree

Ryan McMaken recently gave a talk at Oklahoma State outlining the history of secessions and making the case that they promote liberty and peace. He joins Bob to discuss his major themes and to address common objections.Ryan's Talk at Oklahoma State: Mises.org/HAP440aBreaking Away: The Case for Secession: Mises.org/HAP440bHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFreeEnter to win free admission to the Human Action Conference: Mises.org/HARaffle

Christian Sandström is a Swedish economist who joins Bob to discuss his new (co-edited) book, which makes the case that massive government funding projects aren't necessary to promote science or industrial growth.Dr. Sandströmm's Moonshots and the New Industrial Policy: Mises.org/HAP439aHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFreeEnter to win free admission to the Human Action Conference: Mises.org/HARaffle

Tom DiLorenzo spent a long and productive career in academia before assuming his current position as president of the Mises Institute. He joins Bob to discuss his early days getting into economics, and some of his important work on antitrust policy. He also discusses his popular books on Abraham Lincoln. Though it all, Tom stresses the importance of the Austrian viewpoint.Tom's Paper on the Origins of Antitrust: Mises.org/HAP438aNullification: An Interview with a Zombie: Mises.org/HAP438bHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFreeEnter to win free admission to the Human Action Conference: Mises.org/HARaffle

Brent Johnson of Santiago Capital created the "dollar milkshake" theory, which says that in a global sovereign debt crisis, the USD, gold, and US stock market will all rise. He joins Bob for a friendly disagreement over the dynamics of a decline in foreign demand to hold USD.The ZeroHedge Debate: Mises.org/HAP437aBob's Post-Game Analysis of the Debate: Mises.org/HAP437bBrent Johnson Explains The Dollar Milkshake Theory: Mises.org/HAP437cBob's Article, 'What Does "Debt-Based" Money Imply for Interest Payments?': Mises.org/HAP437dHuman Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFreeEnter to win free admission to the Human Action Conference: Mises.org/HARaffle

Dave Smith makes the Rothbardian/Hoppean case for government restriction on immigration, arguing that it's a second-best solution given the undeniable fact of government control of "public" property. Bob plays devil's advocate to raise possible objections to Dave's framework. Rothbard, "Nations by Consent": Mises.org/HAP436a Hans-Hermann Hoppe, "On Free Immigration and Forced Integration": Mises.org/HAP436b Bryan Caplan, "A Radical Case for Open Borders": Mises.org/HAP436c   Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree Enter to win free admission to the Human Action Conference: Mises.org/HARaffle

On February 13, 2024, Bob participated (with Jim Rickards, Brent Johnson, and Michael Every) in a ZeroHedge debate on the fate of the USD. In this episode of the Human Action podcast, Bob highlights some of the key issues and explains why he thinks his side won. The ZeroHedge Debate: Mises.org/HAP435a Brent Johnson's Milkshake Theory: Mises.org/HAP435b Egert's Article on the Public Debt Threshold: Mises.org/HAP435c Bob's Article on the Latest CBO Federal Debt Report: Mises.org/HAP435d Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree

Bob goes solo to give a point-by-point rebuttal to James Lindsay's recent essay arguing that "national divorce means national suicide." Bob argues that James employs inconsistent claims and ignores the tremendous economic boon to an independent Texas. James Lindsay's Article "National Divorce is National Suicide": Mises.org/HAP434a Bob's Book "Common Sense: The Case for an Independent Texas": Mises.org/HAP434b AntiWar.com Article on Gaza: Mises.org/HAP434c Scott Horton's Interview with Arnon Soffer: Mises.org/HAP434d   Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission. Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree

Academic VP of the Mises Institute, Joe Salerno, joins Bob to discuss his talk at the Supporters Summit, centering on the mainstream's focus on "rules vs. discretion" in monetary policy. Salerno explains how President Eisenhower's administration marked a pivot away from the ideology of inflation. Dr. Salerno's Talk at the 2023 Supporters Summit: Mises.org/HAP433a   Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission.   Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree

Economist Peter St. Onge summarizes some of the major financial and government news stories of the day. Bob's Mises University Talk 'Price Inflation: Corona vs. QE': Mises.org/HAP432a   Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission.   Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

Bob goes solo to discuss a recent Twitter controversy, in which opponents of a proposed tax argued that unrealized capital gains couldn't possibly be a form of income. Bob cites both Austrian theory and corporate accounting practice to respond that all capital gains are income, which is not to say that they ought to be taxed. The dispute is important because understanding the definition of "income" sheds light on the role of market prices in guiding entrepreneurial action. Bob Talks to David Schizer on the Moore Ruling: Mises.org/HAP431a Bob's Econlib Article on Capital and Income: Mises.org/HAP431b   Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission.   Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

Economic giant Robert Solow died in December 2023. He was a Nobel laureate, and four of his PhD students went on to also receive the Nobel. He is known for the growth model named in his honor.  Garett Jones of GMU joins Bob to discuss the work of Solow, focusing on the possible tension between the Solow model's conclusions about capital accumulation vis-à-vis the Austrian School. Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission.   Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

Murray Sabrin joins Bob to discuss his upcoming online course on the economics of the US healthcare system, including practical solutions. The course begins in mid-January 2024.   Dr. Sabrin's New Online Course: Mises.org/HAP429a IPAK-EDU.org is offering the following discounts: 50% off until Jan 6th with code: COUNTMEIN  25% off after January 6th with code: JACKSAYS75   Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission. Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

Tyler Cowen is Holbert L. Harris Chair of Economics and chairman of the Mercatus Center at George Mason University. With Alex Tabarrok, he runs the popular economics blog Marginal Revolution. Tyler joins Bob to discuss his latest book.Tyler's New Book for Free: Mises.org/HAP428aTyler's Blog: Mises.org/HAP428b Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission.Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

On a recent installment of the Pynx debate series, Bob had a friendly debate with Dean Baker on a soft or hard landing in 2024. In this episode of the Human Action Podcast, Bob comments on the key disputes, underlying the differences between the Austrian and Keynesian frameworks. Bob's Debate with Dean Baker: Mises.org/HAP427a Bob's Paper on the Inverted Yield Curve: Mises.org/HAP427b Bob's Mises University Talk on Government Debt: Mises.org/HAP427c   Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission. Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

Daniel Miller, founder and president of the Texas Nationalist Movement, joins Bob to discuss the exciting developments in the push for a referendum on Texas secession. Daniel explains the prospects and then answers common objections to the idea. Daniel Miller's Website: Mises.org/HAP426a Bob's Pamphlet on Texas Independence: Mises.org/HAP426b   Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

Ivory Tower economists continue to tell us that the US economy is booming, but consumers disagree. Paul Krugman has a new explanation for the economic gloom: Republicans. In a recent New York Times article, Krugman touts that partisanship and media bias drive a wedge between consumer sentiment and economic reality. But is this actually what’s going on? Dr. Jonathan Newman is back with Bob to break down Krugman's shifting economic predictions and to consider the trajectory of the US economy. Krugman's NYT Article from 2021 on Inflation: Mises.org/HAP425a Krugman's NYT Article on Begin Wrong About Inflation: Mises.org/HAP425b Jonathan and Bob's HAP Episode on The Fed's 'Soft Landing': Mises.org/HAP425c   Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

The US Government will face another round of federal debt expansion in 2024, but will there be enough creditors to allow their continued spending? Investors are not buying Treasury Debt at forecasted rates, foreign investors are exiting federal debt, and even the Federal Reserve is reducing its treasury holdings. Dr. Jonathan Newman recently wrote for the Mises Wire on this topic, and he joins Bob to break down the data and explain what is up with treasuries and the future of the dollar. Dr. Newman's Article on The Treasury's Creditors: Mises.org/HAP424a   Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

Nicolás Cachanosky was a co-author on the dollarization proposal for Argentina that Javier Milei publicly endorsed. Nicolás explains to Bob the outlines of the proposal, which involves replacing pesos with USD for bank deposits, currency in circulation, and central bank liabilities. How to Dollarize Argentina: Mises.org/HAP423a Rear More from Nicolás: Mises.org/HAP423b The Human Action Podcast Episode with Peter Lewin: Mises.org/HAP423c   Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

Murray Sabrin has a long history with the Austrian movement and is one of two people who had Murray Rothbard on his PhD committee. He talks with Bob about his memoir, From Immigrant to Public Intellectual: An American Story. Murray Sabrin's Substack: Mises.org/HAP422a From Immigrant to Public Intellectual: An American Story: Mises.org/HAP422b Rothbard's America's Great Depression: Mises.org/HAP422c Bob's Blog on the Distortion of Hoover: Mises.org/HAP422d The Mises Circle in Fort Myers: Mises.org/HAP422e   Human Action Podcast listeners can get a free copy of Murray Rothbard's Anatomy of the State: Mises.org/HAPodFree

Mises' work explains how laissez-faire economies have incentives to be peaceful with each other, and how, inversely, tariffs and protectionism create isolation, instability, and war. His words are especially prescient today as conflicts rage and tensions between superpowers continue to rise—mirroring the rise in state power across the globe. Dr. Jonathan Newman joins Bob to break down the history of warfare, how states fund war, and why war is more destructive in the modern era. Dr. Newman's Article on the History of Warfare: Mises.org/HAP421a Dr. Murphy on Private Military Defense: Mises.org/HAP421b 'Free Trade vs. Protectionism' MisesU 2023 Lecture: Mises.org/HAP421c Bob and Jonathan's Talks from the Mises Circle in Fort Myers: Mises.org/HAP421d   Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree

"Econ Bro" (who wishes to remain anonymous) is a Nigerian scholar who realized the limits of his conventional economics training and then discovered the work of Murray Rothbard and other Austrians. He now seeks to help his country and the world by spreading the truth. Econ Bro's Article on The State as a Rejection of God Part 1: Mises.org/HAP420a Econ Bro's Article on The State as a Rejection of God Part 2: Mises.org/HAP420b   Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree

Recently Yaron Brook and Bryan Caplan debated the merits of anarchism at the Soho Forum. Bob critiques Brook's opening statement.   The Soho Forum Debate: Mises.org/HAP419a Bob's Book on Market Anarchy, Chaos Theory: Mises.org/HAP419b Rothbard's Book on Natural Rights and the State, For a New Liberty: Mises.org/HAP419c Hans-Herman Hoppe's Book on Private Defense, The Private Production of Defense: Mises.org/HAP419d   Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree

Brian Albrecht joins Bob to discuss the work of this year's Nobel (Memorial) Prize Winner Claudia Goldin, with an emphasis on the male-female wage gap. Claudia Golden and Tyler Cowan Discuss The Gender Earnings Gap: Mises.org/HAP418a Claudia Golden's Paper on The Pill: Mises.org/HAP418b More Content from Brian: Mises.org/HAP418c   Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree

Jonathan Newman rejoins Bob to explore more of the mechanics and political implications of the Fed's current state of insolvency. The Mercatus Article on Quantitative Easing: Mises.org/HAP417a Furman's Op-Ed in the WSJ: Mises.org/HAP417b   Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree

Andreas Granath is a recovering socialist who discovered the truth and beauty of Austrian economics and libertarianism. He joins Bob to discuss his recent article explaining the different definitions of "inflation" and why it matters. Andreas' Mises Wire Article on CPI: Mises.org/HAP416a The Silly IMF Tutorial on Inflation: Mises.org/HAP416b Bob's Mises University Lecture on Price Inflation: Mises.org/HAP416c Yaron Brook & Łukasz Dominiak Debate on Minarchy vs. Anarchy: Mises.org/HAP416d   Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23 Human Action Podcast listeners can get a free copy of Per Bylund's How to Think About the Economy: Mises.org/HAPodFree

Alex Pollock has decades of experience in financial markets, including a position as President of the Federal Home Loan Bank of Chicago. He explains to Bob the mechanics of the Fed's current insolvency and its implications for ordinary Americans. Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23

Dr. Jonathan Newman joins Bob to break down the data used in a popular productivity vs. pay graph. They show why you should be wary of charts coming from agenda-driven institutions and how you can spot manipulated data. The charts mentioned during this episode are available at: Mises.org/HAP414Charts Gene Epstein on the Bob Murphy Show: Mises.org/HAP414a The Economic Policy Institute 2022 Paper: Mises.org/HAP414b The Economic Policy Institute 2015 Paper: Mises.org/HAP414c Gene Epstein's Mises University 'Dirty Data' Lecture: Mises.org/HAP414d FRED Blog Post on the Chart and Price Indices: Mises.org/HAP414e   Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23

Lawyers for two of the Proud Boys convicted for their role in the January 6 assault on the Capitol are filing appeals claiming that they are being subject to a "trial tax," being punished for rejecting a plea deal offer. Bob uses the occasion to explain his long-standing objection to plea deals. Article on the 'Trail Tax' Imposed on the Proud Boys: Mises.org/HAP413a Ex-Proud Boys Leader Sentenced Despite Not Being in Washington on Jan. 6th: Mises.org/HAP413b Twitter Thread on Plea Deals and Justice: Mises.org/HAP413c   Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission: Mises.org/FL23