Recent Podcast Episodes

There are only three possible economic systems: capitalism, socialism, and interventionism. Mises spent his career proving the third is the least understood and the most dangerous.

A labor economist at the University of Chicago devoted his career to Veblen's institutionalism. When he finally saw through the foundations, he told a friend: all my work has been bunk.

Should banks contract credit during a bust? Mises said yes. Rothbard disagreed. Patrick Newman traces a subtle but consequential rift between master and student.

The engineer and the gambler both face uncertainty, but only one can control the forces involved. Jonathan Newman explores the gap between plan and outcome that drives all economic life.

Mises said the modern theory of value didn't just improve economics. It created an entirely new science: the general theory of human action.

Armen Alchian opened a seminar by reading a paragraph on property. Only one person in the room recognized it from Mises's Human Action. It changed everything.

Hülsmann opened Mises's 1912 Theory of Money and Credit expecting a historical curiosity. He found a work that surpassed everything published since.

To spend his compulsory East German currency, Hoppe's only options were Marx, Engels, and Russian novels. Then he found his way to Mises through Friedman and Hayek.

By 1950, the Austrian School was nearly dead. Keynesianism had displaced its business cycle theory, and the profession declared Mises wrong on socialism. Human Action was the counterattack.

Mainstream economics starts with models and works backward to reality. Mises started with reality and worked forward to theory. Herbener explains why that distinction changes everything.

Mises was a psychological hedonist, but not the kind you think. David Gordon untangles a philosophical position most Austrians have never examined closely.

DiLorenzo learned more about inflation and recession in 45 minutes of reading Mises than in two semesters of macroeconomics. That, he argues, is the Austrian School's greatest advantage: anyone can become their own economist.

Ricardo's law of comparative advantage wasn't just about trade between nations. Mises saw something deeper: it's the reason human society exists at all.

Ludwig von Mises nearly titled his masterwork Social Cooperation. Salerno explains why that alternative title reveals more about the book's ambition than most readers realize.

Even if peace breaks out tomorrow, the economic damage is done.

Bill Anderson offers a ground-level view of California's decline, arguing that the state's deep entanglement of government with water, energy, housing, and transportation has created a self-reinforcing system where every new crisis produces more regulation, more spending, and fewer productive citizens.

To complain against the state’s actions, argues Hobbes, is to ultimately complain against yourself because you originally authorized the state through social contract and the state represents you!

Connor O'Keeffe argues that California's wildfire crisis is not simply a climate story but a government failure story.

On this episode of Power & Market, Ryan, Tho, and Connor discuss the escalating battle over Congressional districts. As Republicans and Democrats engage in an arms race over gerrymandering, assisted by a new Supreme Court ruling over racial districts, is the facade of "representative democracy" finally slipping?

Entrepreneurship is a voluntary undertaking that causes change by providing value. No force, no threats, and no coercion are involved. It is market action fully in line with our libertarian ideals. And it provides alternatives, and produces variety.