Interventionism

Presented at the Mises Institute's "First Annual Advanced Instructional Conference in Austrian Economics" at Stanford University.

Hazlitt and all of the other critics of Keynes never did get to the primary points with respect to what was wrong with Keynes. One point was theoretical. The other was practical.

Why does this domino process affect only banks, and not real estate, publishing, oil, or any other industry that may get into trouble?

Japan's once-envied economy is now in shambles. The European economy, built on the same shaky tenets, is crumbling, too. Where to go from here?

This immense cooperative system is known as a free-market economy. It was not consciously planned by anybody. It evolved.

The boom produces impoverishment. But still more disastrous are its moral ravages. It makes people despondent and dispirited. The more optimistic they were under the illusory prosperity of the boom, the greater is their despair and their feeling of frustration.

Many advocates claim government intervention is necessary because markets are too unstable. The real instability, however, comes from the immense uncertainty over what government will do next with its vast and arbitrary power.

Bob Murphy interviews Rob Bradley, the world's leading expert in energy economics in the Austrian tradition.

The rulers of that period had far-reaching powers over the activities of their subjects, while individual liberties were largely submerged.

Even The New York Times now admits there is a deep state — and that it serves its own agenda while ignoring the elected civilian government.