The Birth of the Austrian School
Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.
Recent Podcast Episodes
The Division of Labor and Social Order
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
Subjective Value and Market Prices
This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.
From Livestock to Bitcoin: “Legitimacy” and the Evolution of Money
Without money, specialization is constrained; without money, dreams of constructing an advanced society are merely a utopian pipe dream.
The Fiat Standard with Dr. Saifedean Ammous
On the fiftieth anniversary of Nixon's gold shock, The Fiat Standard is an amazing explication of how the West fell to its current state. You don't want to miss this show, especially Saifedean's epic takedown of fiat academia at the end!
Can the Dollar Survive Both Cryptocurrencies and China?
The outcome of today's currency race is uncertain. The credibility of the leading fiat currencies has suffered substantially. Their instability has fueled crises and weakened growth, so the demand for an alternative store of value is high.
Biden’s Economic Team Predicts Long-Term Slow Growth
Stagnation is real, but it isn’t “secular”—that is, sluggish growth doesn’t have to happen. The coming stagnation isn’t foreordained; it is simply the inevitable outcome of a progressive agenda that disdains free enterprise.
An “Open Mind” Is of No Use When It’s Open to Lies
Countless Americans have been repeatedly told to “follow the science,” supposedly to prove they are not obstinately closed-minded. But the main purpose of it all was just to open people’s minds to what government bureaucrats wanted.
There’s a New “Study” Showing 26% of Americans Are Right-Wing Authoritarians. There’s Nothing Scientific about It.
The cognitive dissonance of American academia and journalism is on full display in this survey.
Governments Are Failing at Their Most Basic Duties—While Promising Free Stuff
Political candidates are offering endless government spending and "free stuff" for everyone. But at the same time, governments appear incapable of performing even basic duties like ending street riots.
Fannie and Freddie Are Just Government Agencies. They’re Likely to Stay That Way.
Fannie and Freddie were long quasi-government corporations that typified the corrupt union between the feds and corporate America. But now it looks like both companies are just full-on government corporations.
The Fed Plans to Raise Interest Rates—Years from Now
The Fed isn’t here to take away the punch bowl anymore. The Fed is the punch bowl.
Sound Money versus Fiat Money: Effects on the Boom-Bust Cycle
An increase in the supply of money does not necessarily cause the boom-bust cycle. It is only when more money is created out of nothing that the cycle begins.
