Uploaded July 2026 | Updated September 2026, 2 weeks ago
Recorded in Windham, New Hampshire, on June 27, 2026. Special thanks to Joe and Tracy Matarese for sponsoring this event.
Timothy Terrell traces the historical origins of the American healthcare cartel, beginning with Ronald Hamowy's 1979 article documenting how the AMA used state licensing laws not to protect patients but to restrict physician supply and raise incomes.
2026 is the Year of Rothbard—Murray's 100th birthday—and we're celebrating by giving away free copies of The Origins of the Federal Reserve through July 31. Grab yours today at mises.org/HAPodFree
0:00 Hamowy and the Origins of Medical Licensing
1:05 Pre-Licensing: Free Trade in Medicine
3:41 The AMA Forms to Restrict Supply
4:44 AMA's Explicit Goal: Fewer Doctors, Higher Prices
6:05 Licensing Laws Spread State by State
12:44 The Flexner Report: The AMA's Covert Operation
16:10 Cartelization: Fewer Schools, Excluded Groups
18:53 The AMA Embraces Broader State Power
23:50 Semmelweis: When Innovation Gets Suppressed
26:51 Subsidized Demand and Restricted Supply
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Recorded in Windham, New Hampshire, on June 27, 2026. Special thanks to Joe and Tracy Matarese for sponsoring this event.
Timothy Terrell traces the historical origins of the American healthcare cartel, beginning with Ronald Hamowy's 1979 article documenting how the AMA used state licensing laws not to protect patients but to restrict physician supply and raise incomes.
2026 is the Year of Rothbard—Murray's 100th birthday—and we're celebrating by giving away free copies of The Origins of the Federal Reserve through July 31. Grab yours today at mises.org/HAPodFree
0:00 Hamowy and the Origins of Medical Licensing
1:05 Pre-Licensing: Free Trade in Medicine
3:41 The AMA Forms to Restrict Supply
4:44 AMA's Explicit Goal: Fewer Doctors, Higher Prices
6:05 Licensing Laws Spread State by State
12:44 The Flexner Report: The AMA's Covert Operation
16:10 Cartelization: Fewer Schools, Excluded Groups
18:53 The AMA Embraces Broader State Power
23:50 Semmelweis: When Innovation Gets Suppressed
26:51 Subsidized Demand and Restricted Supply
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics at https://Mises.org.
X ► https://x.com/mises/
Facebook ► facebook.com/mises.institute
Instagram ► instagram.com/misesinstitute
SoundCloud ► soundcloud.com/misesmedia
Apple Podcasts ► podcasts.apple.com/us/artist/mises-institute/1280664810
Rumble ► rumble.com/c/c-2212754
Odysee ► odysee.com/@mises
Podcasts ► mises.org/podcasts
