Recent Podcast Episodes

From “Choice in Currency: A Path to Sound Money”; the Mises Circle in Vancouver. Recorded 13 September 2008.

From “Choice in Currency: A Path to Sound Money”; the Mises Circle in Vancouver. Recorded 13 September 2008.

From “Choice in Currency: A Path to Sound Money”; the Mises Circle in Vancouver. Recorded 13 September 2008.

Recorded at Mises University 2008.

Recorded at Mises University 2008.

Power & Market - this second section of Rothbard's book - shows the state was to be protector of the people and property, but the government is contradictory to that task. Government both taxes and demands a monopoly of defensive services within a geographical area.

Main objection to the Austrian Business Cycle Theory is rational expectations - they can't prevent entrepreneurs from making use of loose credit because they would be left behind if they didn't.

The uniqueness of the Austrian approach to taxation is to first cover Public Policy, then Antimarket Ethics and finally Taxation. It is a praxeological development approach. Robbery and counterfeiting are the revenues to the state. You can't look at taxation alone, you must look at expenditures, too.

The pricing, supplies, and incomes of particular factor prices - labor and land -  and the effects of a changing economy upon them are discussed as Rothbard viewed them. The theory of rent is a highlight of this chapter. The Mengarian causal-realist tradition is integrated here.

Praxeology - economics - provides no ultimate ethical judgments: it simply furnishes the indispensable data necessary to make such judgments. Common criticisms of the free market are refuted praxeologically in this chapter. Absolute equality is an impossible goal.

Price controls, product controls, compulsory cartels, licenses, standards, tariffs, child labor laws, conscription, minimum wage laws, subsidies, penalties, anti-trust, conservation laws, patents, public utilities, eminent domain, and bribery are among the many triangular interventions by government that distort markets and reduce benefits to con

Progressive, proportional and regressive taxes. Rothbard is relentlessly not in favor of taxes. The state robs both rich and poor.

This completes the study of money and of the effects of changes in monetary relations on the economic system. Like all commodities, money has its own supply and demand and price: purchasing power. Everyone deals in money.

Walter Block met Rothbard in 1966. Here, Block tells a joke making the point that antitrust law is dead from the neck up. There is nothing wrong with a monopoly price. Whatever price the free market establishes will be the best price.

How are money prices determined? The stock of the money commodity responds to demand and supply of the consumers and their preferences just as with any other good.

Austrian Economics offers an elegant, logical, and thoroughly causal explanation of how money came to be, again demonstrating the power of the free

The mental constructs of the evenly rotating economy and of specific factors of production are discussed. Distinguishing between interest and profits and a construct of slow change are revealed through the ERE as Rothbard considers the final state of rest.The ERE construct is simply a useful, unrealizable, mental tool.

Direct exchange was limited. The pattern of indirect exchange led to the common medium of exchange: money. Maximization of psychic income always leads the seller of a good to seek the highest money price for it, and the buyer of a good to seek the lowest money price.

Here Rothbard deals with the pure rate of interest, as determined by time preference. It's a ratio of prices between present and future goods. The interest rate is equal to the rate of price spread in the various stages of production. It pervades all time markets.

Recorded at Mises University 2008.