The Human Action Podcast

Mises Institute Fellow Patrick Newman joins Bob to discuss a recent tweet from Stephanie Kelton, which argued that the government's "red ink makes our black ink possible." Patrick and Bob point out that these MMT tautologies are very misleading at best. Patrick also lays out the argument in his journal article, saying that MMT's debt monetization won't cause a boom-bust cycle, but will still reduc...

University of Rochester economist Steve Landsburg joins Bob to discuss the abysmal performance of ChatGPT on his undergraduate exam. They also discuss the importance of market prices in guiding behavior and the unexpected problems with the government handing out "free" goodies. Bob's article "Superman Needs an Agent:" https://Mises.org/HAP400a Steven's Book The Armchair Economist: https://Mises.or...

Jonathan Newman joins The Human Action Podcast to discuss his recent Twitter controversy over the claim that market prices can be "wrong" (i.e. in disequilibrium) if they are "sticky." Jonathan Newman's Twitter controversy on sticky prices: https://Mises.org/HAP399a Joe Salerno on Mises's Monetary Theory: https://Mises.org/HAP399b Bagus and Howden on market disequilibrium and sticky prices: https:...

Per Bylund joins Bob to discuss his new paper at the QJAE, which points out several flaws in the MMT claim that money is valued in order to pay taxes. Per's QJAE article: https://Mises.org/HAP398a

Bob originally invited Brian Albrecht (Chief Economist of the International Center for Law & Economics) to discuss the work of Armen Alchian, but on the day of recording, Robert Lucas happened to die. Bob and Brian discuss rational expectations, real business cycle theory, and how Alchian cracked the military's top secrets. Brian on Alchian's famous "Costs and Outputs" paper: https://Mises.org/HAP...

Dr. Paul Cwik joins Bob to discuss the inverted yield curve's "signal" of an impending recession. Dr. Cwik's dissertation on inverted yield curves and economic downturns: https://Mises.org/HAP395a Bob on the link between inverted yield curves and recessions: https://Mises.org/HAP395b Bob's Understanding Money Mechanics: https://Mises.org/Mechanics

Jonathan Newman joins Bob to dissect Paul Krugman's latest NYT op-ed, in which he derides Ron DeSantis as paranoid for thinking a central bank digital currency (CBDC) could be used to control citizens. Krugman's op-ed in the New York Times: https://Mises.org/HAP391a Bob breaking down negative interest rates: https://Mises.org/HAP391b

Jeff and Bob review the history and impact of The Human Action Podcast—formerly Mises Weekends—and discuss where the podcast is headed. Get Jeff's new book A Strange Liberty: Politics Drops Its Pretenses: https://Mises.org/Strange

Bob is joined by guest Peter St. Onge to discuss how SVB's CEO, as well as Bernie Madoff, had key positions advising the Fed and SEC. Then they discuss how we should think about central banks losing money. How the SEC was Charmed by Madoff: https://Mises.org/HAP389a Bob's Understanding Money Mechanics: https://Mises.org/HAP389b

With commercial banks exposed by the recent bailouts, Americans question whether “their money” is truly safe despite the promises of FDIC insurance. Jeff and Bob walk through the mechanics of how a full reserve bank could work in a truly free market based on the concepts and taxonomy of Mises’s Theory of Money and Credit. Mises's A Theory of Money and Credit: https://Mises.org/TMC Bob's study guid...

This past weekend saw extraordinary actions by the Fed to address the meltdown of Silicon Valley Bank. Did the central bank break the law by effectively authorizing unsecured loans to banks based on the face value—rather than significantly lower market value—of those banks' Treasury holdings? Bob's study guide to A Theory of Money and Credit: https://Mises.org/HAP387a

Progressives view all aspects of human life as a struggle against forces of oppression. Earlier this week on BBC, Professor Mariana Mazzucato suggested governments across the West should simply print money not only to help Ukraine, but also to finance other "wars" against climate change, inequality, and more. Should national treasuries essentially adopt a permanent wartime footing and print far mo...

With global worldwide debt now over $300 trillion and interest rates rising, the US dollar is once again a relative safe haven in a slowing economy. Currencies competing with the Dollar face a deadly race to stave off a sovereign debt crisis. Is the dollar now unbound, as the dominant political tool of the dominant nation? The Dollar Milkshake Theory: https://Mises.org/HAP385a Thorsten Polleit, Th...

Tom Woods joins the show for a look at the hottest political topic of the day, namely national divorce. This is a spirited discussion of the politics, economics, and mechanics of how America might break up. Watch 'The Economics of National Divorce Part I' with Ryan McMaken": https://Mises.org/HAP352

With Yale economics professor Yusuke Narita suggesting mass suicide—seppuku—as the answer to Japan's rapidly aging demographics, Jeff and Bob take a hard look at the economics and humanity of greying America. Richard Hanania, "Gerontocracy Versus Western Civilization": https://Mises.org/HAP383a Bob on opting out of Social Security: https://Mises.org/HAP383b

Jeff and Bob break down this week's Davos WEF conference and consider whether global elites really have the mechanisms to impose their plans. Johnny Vedmore's analysis of Schwab's origins: https://Mises.org/HAP379a Scott Greer says America's right-want needs to stop dwelling on Schwab: https://Mises.org/HAP379b Schwab bragging about penetrating Cabinets: https://Mises.org/HAP379c

Jeff and Bob record a special Thanksgiving episode for Money Talk 1010 AM on what it really takes to fix the US economy. Mark Thornton on the coming economic crisis: https://Mises.org/HAP371A Listen to Jeff on Money Talk 1010 every Thursday at 9:00am ET: https://Mises.org/MoneyTalk

Daniel McCarthy joins Jeff and Bob to consider the deep unseriousness of American politics and electorate. Willmoore Kendall's The Conservative Affirmation: https://Mises.org/Kendall

Jeff joins Chris Casey of WindRock Wealth Management for a deep analysis of next week's punishing midterm elections.

Criticisms of hapless Senate candidate John Fetterman are labeled "ableist," while Elon Musk's takeover of Twitter is deemed fascist. Jeff and Bob take a hard look at the linguistic battlefield and the corruption of language as an institution. Jeff's paper on language, "Evolution or Corruption?": https://Mises.org/HAP367-1 George Orwell's essay "Politics and the English Language": https://Mises.or...

Free Markets are often criticized for producing ugly, dystopian, consumer-driven landscapes, but is this true? Jeff explains how we need more than intellectual appeal to advance the cause of liberty—we need an appeal to beauty. Watch the other talks from our 40th Anniversary Celebration: https://mises.org/SS2022

Dr. Bob Murphy and Jeff Deist discuss the nauseating elevation of former Fed Chair Ben Bernanke to Nobel Prize winner.

UK entrepreneur and founder of the Cobden Centre Toby Baxendale joins Bob to discuss meeting Hayek, the history of economists supporting 100% reserve banking, and the tools central banks and governments will use to enact "financial repression."

Daniel McAdams of the Ron Paul Institute joins Jeff and Bob to discuss the economic and political ramifications of the Nord Stream 2 pipeline sabotage. Read "The Economics of War" from Human Action: https://Mises.org/HAP363-1 Read a study Bob co-authored on Europe's energy crisis: https://Mises.org/HAP363-2

Bob and Jeff unravel the corrosive and nonsensical policy of "inflationism," and consider its deep cultural effects. Read Jeff's talk from the recent Ron Paul Institute conference: Mises.org/HAP360-1