World History

Long before there was Alan Greenspan to turn the Federal Reserve into Casino Central, there was John Law, France's minister of finance.

Ryan, Tho, and Zach Yost talk about some recent efforts by Polish lobbyists to shame Americans into spending more treasure (and maybe also American lives) on waging wars for Eastern European states. 

Sponsored by David and Suzanne Britton-Ohl.

The Ukraine war rages on and while the media and political classes repeat the “Putin started it” mantra, the evidence points elsewhere. The US government and its European allies have provoked Russia for years, hoping it would lead to an outbreak of war.

With Europe moving toward conflict in 1938, a number of economists and other intellectuals met in Paris to try to revitalize liberalism. Ludwig von Mises also was there as a lonely voice defending laissez-faire and the free market economy.

Contra Marx, the laws of economics are immutable and are the same no matter what historical epoch exists. Economies cannot flourish unless market prices, private property rights, and profits and losses are unhampered.

Frederic Bastiat was a well-known and eloquent defender of liberty and free-market economics. He also was a devout Catholic who looked to tie his faith to his economic and political beliefs.

The more things change, the more they remain the same. In our present age of inflation, we are reminded of how Diocletian and other Roman authorities ordered price controls and other measures to hold down prices. None of these edicts were successful in bringing down prices.

Modern historians romanticize the reign of the Tudors in England, but in reality, they were brutal to their subjects and they centralized power to the detriment of the people. Governments today continue this march against freedom.

Einstein's name is synonymous with brilliance, yet his great intelligence did not translate to logical economic thinking. Instead, Einstein embraced socialism, thinking that one could guide an economy like one guides a mathematical equation.