This episode features an interview of economics professor and department chairman Jeffrey Herbener from 2016 by Jeff Deist, host of the Human Action podcast. They cover the basics of central bank mechanics: how commercial bank reserves are created, the difference between the monetary base and the money supply, and how the Fed Funds rate impacts lending and the structure of production. They consider how Austrian business cycle theory describes the distortions created by artificially low interest rates, and how interest rates ought to operate as price signals. Finally, they discuss how early recipients of newly created money and credit benefit in ways that ordinary citizens don’t.
Category: Voluntaryist Voices
Tom Woods: Our Wise Overlords Are Just Here to Serve Us (51m)
This episode features a lecture by historian and Austro-libertarian Tom Woods from 2010. He is speaking at a Mises Circle event in Colorado Springs titled, “The Delusion of Good Government”. Purchase books by Tom Woods on Amazon here.
Daniel D’Amico: An Economist’s Look at Intellectual Property Law (1h18m)
This episode features a lecture by economics professor Daniel J. D’Amico from 2011 on intellectual property law. He discusses several arguments for and against government enforcement of intellectual property, including trademarks, patents, and copyrights. He explores both moral arguments (deontological) and cost benefit arguments (consequential), dedicating most of his time to consequential arguments. He finds that, in general, intellectual property is difficult to enforce and is inherently an anti-rival good. As a result, he finds no compelling case for government established intellectual property law.
Carl Watner: Fundamentals of Voluntaryism (10m)
This episode features an audio essay written by historian Carl Watner in 2006, co-founder of The Voluntaryist, and which comprises Chapter 3 of Everything Voluntary: From Politics to Parenting, edited by Skyler J. Collins and published in 2012.
Patrick Newman: The Progressive Era and the Rise of Crony Capitalism (45m)
This episode features a lecture by economics professor Patrick Newman from 2018 on the United States’ Progressive Era and the rise of political entrepreneurship, or crony capitalism.
Mike Munger: Permissionless Innovation (1h7m)
This episode features an interview of economist Mike Munger from 2017 by Russ Roberts, host of EconTalk. Munger argues that the ability to innovate without permission is the most important concept of political economy. Munger defends this claim and explores the metaphor of emergent order as a dance, a metaphor coming from the German poet Schiller.
Peter Gray: The Promise of Play (1h11m)
This episode features a lecture by evolutionary psychologist, research professor, and author Peter Gray from 2018 on the importance and benefits of play in the lives of children and human beings.
Walter Block: Defending the Undefendable (52m)
This episode features a lecture by economics professor and Austro-libertarian Walter Block from 2016 about his two books which present defenses of some of society’s seemingly worst actors.
Marc Victor: What I Learned About the Criminal Justice System From Neanderthals and Liars (57m)
This episode features a lecture by criminal defense attorney Marc Victor telling the horrific story of physical violence, bureaucratic malice and criminal perjury he endured while he was “presumed innocent”. A riveting tale of how his devotion to protecting the rights of persons accused of crimes by the State was energized to a whole new level through the harrowing experience he suffered.
John Lott: The War on Guns (1h13m)
This episode features a lecture and Q&A by economist and gun rights advocate John Lott from 2016 on his new book about the War on Guns and the Second Amendment to the United States Constitution.