Podcast
The Human Action Podcast
Hosted by Mises Institute · EN
The Human Action Podcast features in-depth interviews on current topics in economics through an Austro libertarian lens.
31episodes
Episodes
Newest firstAll episodes
Why Mises Thought Fractional Reserve Banking Caused the Boom-Bust Cycle
3d agoTap to summarizeBob returns to the fractional reserve banking debate to clarify a point the critics keep missing: in the Mises-Hayek-Rothbard framework, it's fractional reserve banking itself that sets the boom-bust cycle in motion, not merely central banks.Related:Lawrence White, Free Banking in Britain: Mises.org/HAP561aBob's Previous Episode on Rothbard vs Free Bankers: Mises.org/HAP561bBob's Paper on the History of Fractional Reserve Free Banking: Mises.org/HAP561cRoger Garrison's Presentations on Capital-Based Macroeconomics: Mises.org/HAP561d
Transcribe →Rothbard vs. the Free Bankers
2w agoTap to summarizeBob reviews Murray Rothbard's 1988 essay "The Myth of Free Banking in Scotland," his sharp response to Larry White's influential account of Scottish free banking.Related:Rothbard's Article, "The Myth of Free Banking in Scotland": Mises.org/HAP560aBob's Debate with George Selgin on Fractional Reserve Banking: Mises.org/HAP560bGeorge Selgin's Article, "Scottish Banks and the Bank Restriction, 1797–1821": Mises.org/HAP560cJoe Salerno's Article on Mises as Currency School Free Banker: Mises.org/HAP560d
Transcribe →Keith Knight's Top Ten Problems with Democratic Socialism
3w agoTap to summarizeBob sits down with the managing editor of the Libertarian Institute, Keith Knight, to sample arguments from his recent four-hour video cataloguing sixty-four problems with democratic socialism.Related:Find More from Keith Here: Mises.org/HAP559a64 Arguments Against Democratic Socialism: Mises.org/HAP559bKeith's Domestic Imperialism: Nine Reasons I Left Progressivism: Mises.org/HAP559c
Transcribe →Does the Free Market Naturally Lead to Price Deflation?
4w agoTap to summarizeBob uses U.S. economic history, centering on the greenback era, to work through some subtle but important distinctions in Austrian monetary theory. He also addresses whether free-market economies have a natural tendency toward price deflation under a commodity standard, why the stock-versus-flow distinction matters for understanding gold production and the price level, and how to distinguish "bad" policy-induced monetary deflation from the "good" price deflation that accompanies genuine productivity growth.Related:Patrick Newman, "The Depression of 1873-1879: An Austrian Perspective": Mises.org/HAP558aClarence Long, "The Course of Money Wages during 1860-1890": Mises.org/HAP558bBob's Understanding Money Mechanics: Mises.org/HAP558cBob's Article, "Hayek’s Plan for Private Money": Mises.org/HAP558dThe Charts Shown in this Episode: Mises.org/HAP558e
Transcribe →Greenspan's Legacy: Did the Fed Cause the Housing Bubble?
Jul 7Tap to summarizeIn the wake of Alan Greenspan's recent passing, Bob revisits two contested claims about his legacy: did the Fed under Greenspan fuel the housing bubble, and did that bubble cause the 2008 financial crisis? Related:Bob's Article from October, 2007, "The Worst Recession in 25 years?": Mises.org/HAP557aPeter Schiff was Right (2006-2007 Edition): Mises.org/HAP557bMark Thornton, 2004, "Housing: Too Good to Be True": Mises.org/HAP557cBob's 2008 Article, "The Importance of Capital Theory": Mises.org/HAP557dThe Charts Shown in this Episode: Mises.org/HAP557e
Transcribe →Slavery Was Propped Up by Government: A Misesian Analysis
Jul 2Tap to summarizeBob walks through what Ludwig von Mises wrote about slavery in Human Action, arguing that the institution was not — as the 1619 Project claims — the foundation of American capitalism.Related:Ludwig von Mises, Human Action: Mises.org/HAP556a
Transcribe →From 2008 to the Coming Reset: Larry Lepard's Case for Sound Money
Jun 30Tap to summarizeBob sits down with fund manager and author Lawrence Lepard to discuss his book The Big Print, which argues that the core problem with modern America is not corporate greed or partisan politics, but a monetary system deliberately structured to benefit those closest to the Fed at the expense of wage earners and savers.Related:The Big Print: What Happened To America And How Sound Money Will Fix It: Mises.org/HAP555a
Transcribe →A Harvard Economist Tests Austrian Capital Theory
Jun 19Summary readyBob sits down with Harvard Economics Professor Pol Antràs to discuss his new paper applying Böhm-Bawerk's average period of production to international trade, testing whether countries with lower interest rates tend to export goods requiring longer, more roundabout production processes.Related:Professor Antràs' Paper, "An ‘Austrian’ Model of International Specialization": Mises.org/HAP554aBob's Article, "The Reswitching Question": Mises.org/HAP554b
SummaryThe Fed's Real Job: Propping Up Dollar Reserve Currency Status
Jun 13Summary readyBob sits down with economists Alexander Salter and Joshua Hendrickson to discuss their new paper arguing that the standard Austrian critique of the Fed while correct, is fundamentally incomplete. They argue that the Fed's actual institutional role is to backstop U.S. dollar hegemony: the deliberately constructed post-Bretton Woods system in which the dollar serves as the world's reserve currency, U.S. Treasuries as the global safe asset, and the Fed as buyer of last resort for sovereign debt worldwide.Related:Hendrickson & Salter, "Should We End the Fed? Can We?": Mises.org/HAP553a
SummaryA Scholarly Takedown of MMT: Emmanuel Maggiori on the Theory's Fatal Flaws
Jun 9Summary readyBob sits down with economist Emmanuel Maggiori to discuss his new book If You Can Just Print Money, Why Do I Pay Taxes?, a carefully researched, point-by-point critique of Modern Monetary Theory that engages MMT on its own terms, drawing on the MMTers' own textbook, papers, and responses to critics.Related:If You Can Just Print Money, Why Do I Pay Taxes?: Mises.org/HAP552aBob's Mises Daily Article, "The Upside-Down World of MMT": Mises.org/HAP552bJonathan Newman and Bob's MisesU Lecture on MMT: Mises.org/HAP552c
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