U.S. History

Recorded at the Mises Institute, May 1994.

One of the problems of the American Empire is that there is a lot of empire denial going around. You cannot want to rule the world and yet say that what you value is laissez-faire economics (like National Review does).

Thomas Sowell’s book, Civil Rights, lays bare many of the myths of the Great Society. What did ordinary people do before an advanced welfare state? Anti-poverty programs like the 1965 Job Corps did not turn out well. There was less poverty before the programs. Federal aid to education, like Head Start, did not stop any cycle of poverty. There was no difference in performance.

Recorded at the Mises Institute, May 1994.

Recorded at the Mises Institute, May 1994.

Recorded at the Reassessing the Presidency seminar; March 2004. (33:49)

This is a federal constitution. Federalism is the most important idea for liberty. You must maximize your choices and you need meaningful choices, made against a cultural background. Federalism requires such moral correctness that it makes it the most difficult system to maintain. Federalism always fights consolidation.

Albion’s Seed is a great book about the four migration folkways into the colonies from Great Britain during 1629 through 1775. The groups had many characteristics in common which may be what made future union possible, but the groups were also different. Puritans hated Quakers. Everybody hated Catholics. The competing regional cultures created quite a laissez-faire outcome between the community-based groups and more individualistic groups.

Before there was the Federal Reserve there was the second Bank of the United States (1817–1836). Since the late nineteenth century, historians and economists have lauded this institution for its salutary control over the currency, its regulation of the state banks, its prudent stewardship of the government’s funds, and its example of a fruitful private/public partnership in the field of central banking.

Ryan McMaken provides a sweeping roundup of false perceptions of the American West. The story is not one of unrelenting violence but of hard work, trade, peace, and the tedium of daily life. The development of the West was not dependent on the soldier with the rifle, but on the blacksmith, the school teacher, and the saloon owner.