misesmedia
Jeff Deist on PC and the State-Linguistic Complex
updated
Presented at the 2024 Human Action Conference on Friday, 17 May 2024, at the Mises Institute in Auburn, Alabama.
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Order a free paperback copy of Murray Rothbard’s What Has Government Done to Our Money? at https://Mises.org/Money.
Presented at the 2024 Human Action Conference on Friday, 17 May 2024, at the Mises Institute in Auburn, Alabama.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Dr. Machaj's Monetary Policy and Inflation: https://Mises.org/HAP448a
Bob's Book on MMT, Understanding Money Mechanics: https://Mises.org/HAP448b
Bob's MisesU Lecture, "Price Inflation: Corona vs. QE": https://Mises.org/HAP448c
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Introduction
01:50 The Quantity Theory of Money
05:32 Do Increases in Money Supply Always Lead to Inflation?
18:44 Why Wasn't There Inflation in 2009?
24:41 The "Money Multiplier" Model
42:33 What Austrian Economists See that Others Can't
Discussed on the Show
“Between Trump and Biden, what should real Republicans do?” by John Danforth, William Cohen and Alan Simpson: https://Mises.org/RR_186_A
“To Stop the Left, America Needs a Rothbardian Right” by Tho Bishop: https://Mises.org/RR_186_B
Claim your free copy of What Has Government Done to Our Money?: https://Mises.org/Money
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard.
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Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Order a free paperback copy of Murray Rothbard’s *What Has Government Done to Our Money?* at https://Mises.org/Money.
Stephanie Kelton is the star of a new documentary film touting the alleged brilliance of Modern Monetary Theory (MMT). Murphy gives a comprehensive critique of the film, covering the flaws in its theory, history, and policy recommendations.
Finding the Money Documentary: https://Mises.org/HAP447a
Bob's Book on MMT, Understanding Money Mechanics: https://Mises.org/HAP447b
Radford's Paper on P.O.W. Camps: https://Mises.org/HAP447c
The Upside-Down World of MMT: https://Mises.org/HAP447d
Bob's Article on Debt and Future Generations: https://Mises.org/HAP447e
Bob's Article on The Origin of Specie: https://Mises.org/HAP447f
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Introduction
01:59 The MMT Argument
08:10 Who is Stephanie Kelton?
11:10 MMT's Convincing Strategy
17:36 How Kelton Came to the MMT Side
21:28 The Biggest Flaw in the MMT Argument
31:04 Non Sequiturs Snuck Into the Documentary
39:17 Kelton's Claim of Debt as a Financial Asset
57:30 Do Recessions Follow Federal Budget Surpluses?
59:55 Why Does Gov. Need to Borrow if they can just Print?
1:16:04 MMT Doesn't Understand Money
1:32:45 Conclusion
Discussed on the Show
“Clinton Adviser, Nobel Prize Winning Economist Endorsed Venezuelan Socialism” by Tho Bishop: https://Mises.org/RR_185_A
“Sorry, Stiglitz: It’s Socialism That’s Rigged — not Capitalism” by William L. Anderson: https://Mises.org/RR_185_B
“Freedom for the Wolves” by Joseph E. Stiglitz: https://Mises.org/RR_185_C
“Neoliberal economics: The road to freedom or authoritarianism?” by Greg Rosalsky: https://Mises.org/RR_185_D
“Joseph Stiglitz and the Meaning of Freedom” by John Cassidy: https://Mises.org/RR_185_E
Claim your free copy of What Has Government Done to Our Money?: https://Mises.org/Money
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard.
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Connor's Article on the Campus Protests: https://Mises.org/HAP446a
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Introduction
01:29 The Campus Protests
06:30 Looking at the Facts of Gaza
10:20 What Started the Columbia Campus Protest
15:20 The Social Side of the Protests
19:15 The Protestor's Goals
25:33 Are the Protests Anti-Semetic?
31:26 The Protestors Motivations
41:31 The Anti-Semetism Bill
49:44 Conclusions
Be sure to follow Minor Issues at https://Mises.org/MinorIssues
Get your free copy of Dr. Guido Hülsmann's *How Inflation Destroys Civilization* at https://Mises.org/IssuesFree
Central banks have two main purposes: inflate the money supply and give bailouts to the big financial firms. By inflating the money supply, governments can finance their operations cheaply and surreptitiously. If we wish to oppose the state and all its evils, we must point to the source, the Federal Reserve.
This opposition is why we are creating our new Federal Reserve documentary. The Fed has created its own narrative for far too long, but now we're telling the world the real deal.
Help us meet our fundraising goal. Donate $50 today (https://Mises.org/Fed) and receive our NEW booklet by Murray Rothbard, *Taking Back Our Money*. Donors of $1,000 or more will be listed in the film credits.
Please give today! https://Mises.org/Fed
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This event was co-hosted by the Mises Institute and the Ron Paul Institute, and recorded in Lake Jackson, Texas, on April 13, 2024.
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Recommended Reading
“So, 112 ignoble, infantile Republicans voted to endanger civilization“ by George Will: https://Mises.org/WES_20_A
“Piers Morgan vs John Mearsheimer” on YouTube: https://Mises.org/WES_20_B
Be sure to follow War, Economy, and State at https://Mises.org/WES.
This event was co-hosted by the Mises Institute and the Ron Paul Institute, and recorded in Lake Jackson, Texas, on April 13, 2024.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Rumble ► rumble.com/c/c-2212754
Odysee ► odysee.com/@mises
Podcasts ► mises.org/podcasts
This event was co-hosted by the Mises Institute and the Ron Paul Institute, and recorded in Lake Jackson, Texas, on April 13, 2024.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
Twitter ► twitter.com/mises
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Rumble ► rumble.com/c/c-2212754
Odysee ► odysee.com/@mises
Podcasts ► mises.org/podcasts
This event was co-hosted by the Mises Institute and the Ron Paul Institute, and recorded in Lake Jackson, Texas, on April 13, 2024.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Odysee ► odysee.com/@mises
Podcasts ► mises.org/podcasts
Be sure to follow Minor Issues at https://Mises.org/MinorIssues
Get your free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization at https://Mises.org/IssuesFree
Stephanie Kelton and Edward Chancellor's Debate on Government Debt: https://Mises.org/HAP445a
Martin Wolf's Article on Government Debt: https://Mises.org/HAP445b
Bob's Debate with Warren Mosler on MMT: https://Mises.org/HAP445c
Bob and Jonathan's Episode on Price Inflation: https://Mises.org/HAP445d
Bob's Article on the Economic Outlook for the US: https://Mises.org/HAP445e
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Free Book!
00:25 Introduction
03:38 MMT's Results over the Past Four Years
12:49 How MMT Views Debt Differently
20:48 Using Interest Rates as a Policy Tool
26:26 Debt Crisis Risks and Historical Examples
34:39 Could Inflation be Useful for Governments?
38:10 Did Kelton Think Inflation was Transitory?
40:05 Kelton's Prediction
Discussed on the Show
"The FBI and CIA Are Enemies of the American People" by Ryan McMaken https://Mises.org/RR_183_A
"Cowardice, Not Courage, Led House Republicans to Side with the Democrats" by Connor O'Keeffe: https://Mises.org/RR_183_B
Claim your free book: https://Mises.org/RothPodFree
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Please subscribe to this monthly podcast at https://Mises.org/Unanimity.
Unanimity will not replace the weekly Minor Issues podcast (https://Mises.org/MinorIssues).
David's new book, The New Deal's War on the Bill of Rights: https://Mises.org/HAP444a
Human Action Podcast listeners can get a free copy of Dr. Ron Paul's Gold, Peace, and Prosperity: https://Mises.org/HAPodFree
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Free Book!
00:25 Introduction
00:59 FDR, Interment Camps, and WWII
16:12 FDR Using the Federal Communications Commission During WWII
29:03 The FCC Supressing Free Speech
32:28 Roosevelt's Secret Taping of Whitehouse Meetings
37:42 Political Wiretapping
51:48 Sedition Trial
Additional Resources
PPI at Fred: https://Mises.org/MI_67A
PPI 2022: "The Producer Price Index" at https://Mises.org/MI_35
CPI: "Where’s the Beef?" at https://Mises.org/MI_36
"The Fed's Immaculate Disinflation": https://Mises.org/MI_03
Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Get your free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization at https://Mises.org/IssuesFree.
Discussed on the Show
"Six Graphs Showing Just How Much the Government Has Grown" by Ryan McMaken https://Mises.org/RR_182_A
"Why You Should Read Ludwig von Mises" by Tho Bishop: https://Mises.org/RR_182_B
"Mises Against the Neoliberals" by Ryan McMaken: https://Mises.org/RR_182_C
Claim your free book: https://Mises.org/RothPodFree
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Radio Rothbard mugs are now available at the Mises Store. Get yours at https://Mises.org/RothMug
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Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Get your free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization at https://Mises.org/IssuesFree.
Simon's paper, "Public Property and the Libertarian Immigration Debate" in Libertarian Papers: https://Mises.org/HAP443a
Dave Smith on Open Borders: https://Mises.org/HAP443b
Bob on Blockades and Immigration in a Voluntary Society: https://Mises.org/HAP443c
Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: Mises.org/HAPodFree
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Claim your free book: https://Mises.org/RothPodFree
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Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Get your free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization at https://Mises.org/IssuesFree.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Raffle Winner
00:35 Introduction
01:32 Should Libertarians be Pessimistic?
03:20 Nick on Optimism
10:45 Bob on Pessimism
17:46 The Growth of Government
23:48 Are we Losing Freedom?
31:57 Predictions for the Next Five Years
38:59 Justice, Rule of Law, and Donald Trump
44:00 Conclusions
Congratulations to Ralph Lehman for winning the Human Action Conference raffle!
Claim your free book: https://Mises.org/RothPodFree
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Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Get your free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization at https://Mises.org/IssuesFree.
Bob's article, "Libertarian Law and Military Defense" in Libertarian Papers: https://Mises.org/HAP441a
Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: https://Mises.org/HAPodFree
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Recorded at the Austrian Economics Research Conference, 23 March 2024, in Auburn, Alabama.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Discussed on the Show
"Abundance, Generosity, and the State: An Inquiry into Economic Principles" by Hülsmann, Jörg Guido https://Mises.org/RR_179_A
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One member of the city’s Board of Supervisors, Democrat Matt Haney, criticized the plan, despite voting to approve it. “I think most people would say just replace the cans with cans that we know work in other cities,” he said. “A trash can is one of the most basic functions of city governance, and if the city can’t do something as simple as this, how can they solve the bigger issues?”
Haney’s criticism raises important questions about why bureaucrats make different decisions on how to spend money than private individuals. Consider how you make spending decisions for your household. Most likely, you try to maximize quality while minimizing cost. But how would your priorities shift if you were purchasing something for a stranger? You would likely prioritize price well above quality.
Now imagine that you’re spending somebody else’s money. If you are purchasing items for yourself, you will probably prioritize quality over price. But if you were spending somebody else’s money for the benefit of strangers, you would likely pay far less attention to both price and quality than you would when spending your own money on yourself and your family. This is how bureaucrats make decisions about how to spend the money you pay in taxes.
Think about how much money your household pays in taxes each year. Let’s assume a family of four earning $70,000 a year, which is the national medium household income. Most obvious are the taxes withheld from your paychecks, which include income and payroll taxes. Depending on the state you live in, you will have your salary reduced by roughly $21,000 each year.
But this is only the tip of the taxation iceberg. When accounting for property taxes, sales and excise taxes, and embedded taxes—which refers to the higher price of goods we pay due to things like business taxes and tariffs—the total tax burden for a family earning $70,000 will be around $30,000 each year. And even this doesn’t include inflation, or the many fines and fees levied by government agencies.
But it is enough to ask one simple question: how would an additional $30,000 per year change your family’s life? Would you voluntarily spend it on things like custom-made trash bins? Or would you make better spending decisions than bureaucrats who have little regard for price and quality when spending the money taken out of your hard-earned paycheck?
______________________________________
For more animated content, check out Economics for Beginners at https://BeginEconomics.org.
Recommended Reading
"Intercept of German generals planning Taurus strike on Crimean bridge": https://Mises.org/WES_19_A
"Army aims to double 155mm shell production by October" by Sam Skove https://Mises.org/WES_19_B
"The deception behind America’s support for Ukraine" by Malcom Kyeyune: https://Mises.org/WES_19_C
"Draft-dodging plagues Ukraine as Kyiv faces acute soldier shortage" by Jamie Dettmer: https://Mises.org/WES_19_D
Remarks by Jake Sullivan and Andriy Yermak in Press Conference: https://Mises.org/WES_19_E
"Biden's adviser did not mention regaining territories when talking about conditions for Ukraine's victory": https://Mises.org/WES_19_F
Be sure to follow War, Economy, and State at https://Mises.org/WES.
Recorded at the Austrian Economics Research Conference, 22 March 2024, in Auburn, Alabama. Includes an introduction by Joseph T. Salerno.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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00:00 Introduction | Joseph T. Salerno
02:12 The Forgotten Austrian: Peter F. Drucker and the Welfare State | Murray Sabrin
Includes an introduction by Joseph T. Salerno and an audience question and answer period.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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00:00 Introduction | Joseph T. Salerno
01:53 Knowing Murray in the Early Years | J. Michael Oliver
42:48 Audience Q&A
Recorded at the Austrian Economics Research Conference, 22 March 2024, in Auburn, Alabama. Includes an introduction by Joseph T. Salerno.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Introduction | Joseph T. Salerno
01:15 A Case for Argentina’s Dollarization: Why and How to Implement It | Nicolás Cachanosky
Recorded at the Austrian Economics Research Conference, 22 March 2024, in Auburn, Alabama. Includes an introduction by Joseph T. Salerno.
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Introduction | Joseph T. Salerno
01:53 Ayn Rand and the Austrian Economists | Edward W. Younkins
Ryan's Talk at Oklahoma State: https://Mises.org/HAP440a
Breaking Away: The Case for Secession: https://Mises.org/HAP440b
Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization: https://Mises.org/HAPodFree
Enter to win free admission to the Human Action Conference: https://Mises.org/HARaffle
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Free Book
00:28 Introduction
03:30 Secession and the Constitution
08:48 Why do People Like Democracy so Much?
14:08 Voting and Activism vs. Secession
23:43 Human Action Conference Raffle
22:41 Devil's Advocate: Colonialism is for your Own Good
28:51 Ukranian Independence
33:23 Preventing Widespread Oppression
44:54 Nuclear Weapons and Secession
"The Costs of the Progressives" is a historical series that focuses on great leaps in Washington's consolidation of power on a variety of issues that affect our day-to-day lives, and the costs we pay with our taxes and our liberty: https://Mises.org/Progressivism
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Discussed on the Show
"American Policies Only Make Haiti Worse" by Marcel Gautreau https://Mises.org/RR_178_A
"How State Intervention Fueled Haiti's Descent into Chaos" by Connor O'Keeffe: https://Mises.org/RR_178_B
"Now's a Great Time to Stop Meddling in Haiti" by Ryan McMaken: https://Mises.org/RR_178_C
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Ryan McMaken (mises.org/McMaken) is executive editor at the Mises Institute. He is a cohost of the Radio Rothbard podcast (mises.org/RothPod) and the War, Economy, and State podcast (mises.org/WES), and is the author of *Breaking Away: The Case of Secession, Radical Decentralization, and Smaller Polities* and *Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre*.
The Free Enterprise Society (FES) is sponsored by the Institute for the Study of Free Enterprise at Oklahoma State University: https://fe.okstate.edu/fes
Ryan McMaken (mises.org/McMaken) is executive editor at the Mises Institute. He is a cohost of the Radio Rothbard podcast (mises.org/RothPod) and the War, Economy, and State podcast (mises.org/WES), and is the author of *Breaking Away: The Case of Secession, Radical Decentralization, and Smaller Polities* and *Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre*.
The Free Enterprise Society (FES) is sponsored by the Institute for the Study of Free Enterprise at Oklahoma State University: https://fe.okstate.edu/fes
Be sure to follow Minor Issues at https://Mises.org/MinorIssues.
Get your free copy of Dr. Guido Hülsmann's How Inflation Destroys Civilization at https://Mises.org/IssuesFree.
Dr. Sandströmm's book, Moonshots and the New Industrial Policy: https://Mises.org/HAP439a
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics, at https://Mises.org.
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Chapters
00:00 Free Book!
00:28 Introduction
03:25 What is a Moonshot Project?
10:16 Keynesianism in the USA vs Austerity in Europe
12:47 Contributions to Entrepreneurship Theory in the Book
20:11 Human Action Conference Raffle
20:52 Empirical Cases in the Book
26:39 Are Economists in the USA More Market-Oriented?
33:33 The Public Choice Perspective
39:04 Changing Paths Through Education
Discussed on the Show
"Covid Showed Us Who Really Rules America" by Ryan McMaken: https://Mises.org/RR_177_A
"Modern Medicine’s Great Controversy" by Peter McCullough, MD: https://Mises.org/RR_177_B
"The New Abnormal: The Rise of the Biomedical Security State" by Aaron Kheriaty, MD: https://Mises.org/RR_177_C
Claim your free book: https://Mises.org/RothPodFree
Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard.
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Once he was back behind bars, authorities began searching Potts’s forty-acre property on Alabama’s Garrett Mountain. Local rumors had long circulated that there were bodies buried around the property, and they were finally confirmed with the discovery of the remains of a nineteen-year-old man who had gone missing in 1989. The rough mountain terrain impeded their search for more bodies, but authorities believed Potts had committed as many as fifteen murders since his release from prison.
Given that the parole report warned that Pott’s was high-risk, why was he freed?
The Anti-Drug Abuse Act, passed in 1986, dramatically expanded mandatory minimum sentences for drug offences, including marijuana possession. The act was a gift to violent criminals and sex offenders, who were often granted early release to make room for convicted drug users. Frank Potts was one such beneficiary, allowing him to enjoy a six-year killing spree.
From education to nutrition and healthcare, this series has looked at how individuals are better positioned to make decisions regarding their well-being than bureaucrats and politicians, but this doesn’t mean that people never make poor choices. Substance abuse certainly reflects poor personal choices, and many people look to the State to prevent it. But even policies meant to save people from their own reckless decisions, such as the War on Drugs, often cause more harm than they prevent.
The fentanyl crisis reveals another way that prohibitionist policies have exacerbated the problems they were designed to prevent. Economist Mark Thornton has shown that one unintended consequence of drug prohibition is an increase in potency, by creating an incentive for smugglers to maximize the street value of their product while minimizing its size. This phenomenon, known as the Iron Law of Prohibition, played out during alcohol prohibition, as rumrunners found it more cost effective to smuggle moonshine than beer.
Fentanyl, a synthetic opioid, is only the most recent—and most deadly—manifestation of the Iron Law of Prohibition. Fentanyl is now linked to nearly all overdose deaths, as drug dealers mix it with black market heroin, cocaine, and amphetamines. By contrast, legal intoxicants, such as alcohol and tobacco—though still dangerous—remain fentanyl free.
We all want our loved ones to make good choices, but when they don’t, we hope they can recover and learn from their mistakes. The War on Drugs has failed in its efforts to protect people from making bad decisions, but it has made those mistakes far deadlier, and it has allowed innocent bystanders to become collateral damage along the way.
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