The Human Action Podcast

Paul Cwik revisits the podcast to explain his new book, which aims to simplify ABCT for economics students and professors, especially those teaching at the principles level. Dr. Cwik critiques mainstream economic theories for oversimplifying business cycles, arguing that the Austrian theory better explains systemic errors and the boom-bust cycle driven by distorted interest rates. Dr. Cwik's New B...

Tom Luongo hosts the Gold, Goats, ‘n Guns podcast and newsletter. He explains the different factions among bankers, including rivalries between New York and San Francisco, and the US versus Europe. Read More from Tom Luongo: https://Mises.org/HAP467a

Please donate $5 today to support our Fall Campaign and receive a physical copy of Anatomy of the State: https://Mises.org/HH5 David R. Henderson is a research fellow with the Hoover Institution at Stanford University. He joins Bob to critique a recent Brad DeLong essay, which argued that the US had tried an experiment in "neo-liberalism" and that it failed utterly. DeLong's Article, "America Has...

In this episode of the Human Action Podcast, Bob welcomes guest Joshua Mawhorter to discuss his recent article on the role of government in sustaining slavery. The conversation covers several key points, including slave patrols, fugitive slave laws, manumission restrictions, and constitutional subsidies. Mawhorter argues that slavery persisted largely due to government intervention rather than fre...

Bob goes solo to explain the contributions of Carl Menger and Ludwig von Mises to monetary theory. He then deals with the critique of David Graeber, who argues that the economists' story of the origin of money is bogus. Bob's Article, "Origin of the Specie": https://Mises.org/HAP464a R. A. Radford, "The Economic Organisation of a P.O.W": https://Mises.org/HAP464b Bob's Book, Understanding Money Me...

Dr. Jonathan Newman joins Bob to analyze Kamala Harris's proposals against price gouging, and how some mainstream economists defend Government price controls. They also address misconceptions about price gouging and the evolving mainstream narrative on inflation. Bob's Article on Harris's Anti-Price Gouging Proposals: https://Mises.org/HAP463a The Boston Globe Article Supporting Harris's Proposal:...

Bob quotes from David Ricardo to show that the classical economists understood that utility was essential to explaining market value, but then he also explains why the Marginalist Revolution was a scientific advancement. Bob’s Journal of Libertarian Studies Article on The Labor Theory of Value: https://Mises.org/HAP462a Human Action Podcast Episode 460, “What Does Say’s Law Really Say?”: https://M...

With recent market turbulence and new potential recession indicators emerging, Peter St. Onge joins Bob to examine whether market performance accurately reflects the true state of economic health. There is rising debt, growing entitlements, and ongoing structural issues within the US economy, Bob and Professor St. Onge analyze how these factors contribute to our current economic landscape and whet...

Prompted by a listener request, Bob gives the standard economic analysis of tariffs and other types of taxes. This is relevant because the populist Right is arguing for a hike in tariffs to fund income tax cuts. Bob's Article, "Carbon Taxes and the 'Tax Interaction Effect'": https://Mises.org/HAP458a Trump-Biden Tariff Tracker: https://Mises.org/HAP458b Bob and Dave Smith on Open Borders: https://...

Jason Purcell is an analyst at a major financial institution with a specialty in bond analysis. He joins Bob to discuss his historical analysis of yield curves (in both UK and US) going back to the 1870s, which shows that central banks do indeed manipulate short-term interest rates. Bob's Article on the Inverted Yield Curve: https://Mises.org/HAP457a Goerge Selgin's Cato Article on the Fed: https:...

Are wealthy people getting wealthier because they work harder? Dr. Jonathan Newman is back on the show to discuss Robert Reich's latest video about debunking economic myths. Robert Reich incorrectly blames the free market when businesses act on incentives provided by the government. He condenses this information into short, impactful videos for his audience. However, most of what Reich talks about...

Kyle Anzalone from AntiWar.com and the Libertarian Institute joins Bob to discuss the timeline of Wikileaks and why the US government disliked Julian Assange. This week, Assange was offered his freedom in exchange for admitting to espionage charges, but what exactly did he do? And how can the US prosecute Assange when he is not a US citizen? Bob and Kyle review the facts, including how Wikileaks b...

Bob continues his feud with George Selgin, explaining why the alleged free banking period in Scotland doesn't show that free-market banks would carry low reserve ratios. Reason Debate Between Bob and George Selgin: https://Mises.org/HAP453a George Selgin Interview on Free Banking: https://Mises.org/HAP453b Selgin's Response to Bob on Twitter: https://Mises.org/HAP453c Rothbard's Economic Controver...

The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at https://Mises.org/HAPodFree In a new YouTube series, former US Secretary of Labor Robert Reich promises to explode ten "economic myths." Jonathan Newman joins Bob to respond to the first two episodes in the series, regarding whether economics is an objective science,...

Garett Jones is Associate Professor of Economics at the Mercatus Center at George Mason University. He joins Bob to discuss his book, detailing the impact that immigrants' culture has on the institutions of their new home. Professor Jones' New Book, The Culture Transplant: https://Mises.org/HAP449a

Recently on Twitter, as a reaction to an FT post worrying about the growing debts of various governments, fans of MMT were posting screenshots from a May 2020 FT debate involving Stephanie Kelton. The implication was that Kelton had correctly predicted that government debt would be benign. Bob and guest Jonathan Newman dissent. Stephanie Kelton and Edward Chancellor's Debate on Government Debt: ht...

Historian David Beito has a new book from the Independent Institute titled, "The New Deal's War on the Bill of Rights." He joins Bob to discuss issues such as the Japanese concentration camps and the government's mass surveillance of telegrams. David's new book, The New Deal's War on the Bill of Rights: https://Mises.org/HAP444a

Simon Guenzl joins Bob to push back on Dave Smith's recent appearance, where Dave had made the case against open borders. Guenzl has published a libertarian critique of the Hoppean framework. The debate revolves around the status of government property. Bob plays devil's advocate, especially with a lightning round of "hard cases" for Guenzl at the end. Simon's paper, "Public Property and the Liber...

Nick Gillespie, editor-at-large for Reason, recently got into a friendly dispute with Bob over whether American libertarians were being too pessimistic. He joins Bob to make the case for optimism, while Bob demurs.

On March 26 Bob gave this talk at Oklahoma State, where he was invited by the Free Enterprise Society. He assumed the students had no prior knowledge of the topic and made the case, from scratch, for a voluntary society with privately provided legal and defense services. Bob's article, "Libertarian Law and Military Defense" in Libertarian Papers: https://Mises.org/HAP441a

Ryan McMaken recently gave a talk at Oklahoma State outlining the history of secessions and making the case that they promote liberty and peace. He joins Bob to discuss his major themes and to address common objections. Ryan's Talk at Oklahoma State: https://Mises.org/HAP440a Breaking Away: The Case for Secession: https://Mises.org/HAP440b

Christian Sandström is a Swedish economist who joins Bob to discuss his new (co-edited) book, which makes the case that massive government funding projects aren't necessary to promote science or industrial growth. Dr. Sandströmm's Moonshots and the New Industrial Policy: https://Mises.org/HAP439a

Tom DiLorenzo spent a long and productive career in academia before assuming his current position as president of the Mises Institute. He joins Bob to discuss his early days getting into economics, and some of his important work on antitrust policy. He also discusses his popular books on Abraham Lincoln. Though it all, Tom stresses the importance of the Austrian viewpoint. Tom's Paper on the Origi...

Brent Johnson of Santiago Capital created the "dollar milkshake" theory, which says that in a global sovereign debt crisis, the USD, gold, and US stock market will all rise. He joins Bob for a friendly disagreement over the dynamics of a decline in foreign demand to hold USD. The ZeroHedge Debate: https://Mises.org/HAP437a Bob's Post-Game Analysis of the Debate: https://Mises.org/HAP437b Brent Joh...

On February 13, 2024, Bob participated (with Jim Rickards, Brent Johnson, and Michael Every) in a ZeroHedge debate on the fate of the USD. In this episode of the Human Action podcast, Bob highlights some of the key issues and explains why he thinks his side won. The ZeroHedge Debate: https://Mises.org/HAP435a Brent Johnson's Milkshake Theory: https://Mises.org/HAP435b Egert's Article on the Public...