Bob Murphy Admits Steve Patterson Was Right about the Problems with Infinity
Bob has Steve Patterson back on the show, to concede that Steve’s skepticism of higher mathematics was right all along.
Bob has Steve Patterson back on the show, to concede that Steve’s skepticism of higher mathematics was right all along.
Left-wing intellectuals such as Polanyi are always weeping about the "Coca-Colaization" of the rest of the world, bemoaning the supposedly lost glories of "folk culture" in the undeveloped countries, writes Rothbard.
Trade-offs are made necessary by scarcity. Individuals must choose between the alternatives forced upon them by reality. A refusal to acknowledge this leads to big problems.
Demonstrated preference has everything to do with the choices an economic actor faces in a given moment, not all the conceivable options.
Acton says the muse of the historian is Rhadamanthus, the avenger of innocent blood: "The historian must be a judge, and a hanging judge at that, to right the wrongs of history."
Bob reviews Mark Spitznagel's latest book, Safe Haven: Investing for Financial Storms, on which he was a consultant.
Robert Murphy joins the show for a fascinating look at Mark Spitznagel's new book Safe Haven. If you're interested in the intersection of investing and Austrian economics, don't miss this episode!
Creating a functioning and sustainable local economy is much more time consuming and complicated than sprucing up a few buildings to look good on a TV show.
The Soviet Union in 1991 was dissolved. Murray Rothbard explains how socialism and central planning led to the economic collapse.