Recent Podcast Episodes

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

Rothbard continues the Crusoe analogy. He covers subjectivity of value, and the concept of marginal utility.

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

Deficits are equal to expenditures minus taxes. Reagan spoke of cutting government spending, but meant only cutting the rate of growth of government spending. Stagflation appeared in 1957-58. Inflation during a recession was not supposed to happen. It happened again in 1973-75.

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

The entrepreneur is the major risk bearer. Business return on capital is long run profits or losses. Real rate of interest is determined by time preferences. Government contracts are cost plus. Medical costs are higher because supply is so restricted by government intervention.

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

Rothbard considers how prices are determined by supply and demand on the free market. All long shortages are caused by government interventions. Forecasting is not possible. Economics is not an objective science.

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

In the 19th Century and the beginning of the 20th, the rise of big business on the free market could not create monopolies and cartels. Only government could do that. Government tried. Government failed.

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

Starting with Crusoe economics, Rothbard builds the economic concepts which can be developed by this analogy. These concepts are the axiom of human action. Among them are: man acts, man acts by virtue of his existence, man acts with purposeful behavior,...

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

What causes business cycles? Keynesians say the cycles happen because the free market economy does not spend enough. Thus, pump spending in. Additionally, Keynesians say that animal spirits cause these cycles. Government must fix things. Nobody could understand Keynes' General Theory. What was simply obscure was wrongly considered deep.

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

From The Failure of the “New Economics”. Narrated by Josiah Schmidt.

From the first edition of Robert P. Murphy’s Chaos Theory: Two Essays on Market Anarchy.

Narrated by Jock Coats.