Recent Podcast Episodes
Bessent and Warsh Are Playing for the Midterms
The argument for AI solving inflation runs through productivity: better technology lowers costs, so prices fall. Dr. Mark Thornton takes that apart.
How Neoliberals Fueled the Rise of Socialism
The neoliberal establishment has done much to define our highly-interventionist, inflationary, and crony system as true free-market capitalism. They shouldn’t be surprised, therefore, that people are turning against it.
No, Flock Is Not Really a Private Company
The term that best describes the CEO of the "private" company Flock is "parasite" or "plutocrat" or "welfare queen" because his "business model" is simply finding ways to exploit the taxpayers.
The Ethical Foundations of the Just War Doctrine
Can fighting a war ever be just? Murray Rothbard dealt with that question and, of course, had some definitive answers.
Credit Out of “Thin Air” Brings Wealth Destruction
Federal Reserve policy has been to expand credit out of nothing without regard for the real damage it does to the economy.
The High Cost of the Automated Flock-Camera Surveillance State
The future of Flock cameras: left the house during a pandemic lockdown? Expect a summons in the mail. Exceeding your "carbon footprint" by driving too much? Expect a ticket in the mail.
Appendix A: Minor Remedies Proposed
Public works as a cure for unemployment: proposed, debated, and defended with arguments that would sound familiar a century later.
Chapter VII. Conclusion
The familiar story pits western farmer-debtors against eastern merchant-creditors. Rothbard's evidence says the story is wrong.
Chapter VI. The Movement for a Protective Tariff
Mass unemployment gave the protectionists their best argument in a generation, and they nearly won.
Chapter V. Restricting Bank Credit: Proposals and Actions
Years before the English currency school made it famous, Americans were arguing for one hundred percent reserves, and some wanted banking abolished outright.
Chapter IV. Proposals for National Monetary Expansion
Before the Federal Reserve, before the greenback, American writers were already designing a managed national paper currency, and arguing it could be more stable than gold.
Chapter III. State Proposals and Actions for Monetary Expansion
Four western states answered the shortage of money by printing their own, and watched it depreciate in their hands.
Chapter II. Direct Relief of Debtors
They borrowed when prices were high and had to repay when prices were low. Should the legislature rescue them, or would rescue only deepen the ruin?
Chapter I. The Panic and Its Genesis: Fluctuations in American Business, 1815–21
A wartime boom, a flood of bank paper, a speculative rush for western land, and then the reckoning.
Preface
America's first great depression arrived without a villain: no embargo, no war, no single blundering minister to blame. It seemed to rise out of the economy itself.
Trump Censorship Machine Loses Again in Court
The Trump administration’s crackdown on students protesting against Israel has once again run into the law, this time in the form of a federal court ruling against the government.
The Fallacy of Stable Prices
The Federal Reserve’s fixation with “stable prices” has led to an unstable economy for the past century.
The Two Lineages of Liberty
The movement toward liberty has roots in two eras, neither of which saw much liberty. One lineage comes from the Enlightenment while the other emanates from ancient philosophers.