Money and Banking

Wall Street — especially since this financial crisis began — has been anything but a bastion of laissez-faire capitalism.

I will not contend that this scheme is free from all the defects inherent in government interference with economic affairs.

Recorded at Mises University 2009.

Recorded at Mises University 2009.

Recorded at Mises University 2009.

Professor White's lecture showed that, historically, a free-market approach to the banking industry is less prone to crises and operates efficiently through the invisible hand of the market.

There are only inflationists on Capital Hill and Obama has a bigger bag of boondoggles than FDR could have ever imagined.

Even if the "debt deflation" scenario is generally right, the absolute effect could be swamped by the relative effects, meaning that retirees on fixed dollar incomes could still get wiped out when their standard monthly expenses rise.

Pages 230-232. Narrated by Jeff Riggenbach. 

Presented at Rhodes College in Memphis, Tennessee, on 9 March 2009. This audio is made available by Art Carden.