Adam Haman returns to further discuss US monetary and economic history, with an emphasis on understanding the designs of the "American System" (propounded by Hamilton and later Clay).

Mentioned in the Episode and Other Links of Interest:

• The YouTube version of this episode.
• The previous BMS ep. 507 on this topic. The Phoenician League archives.
• This episode’s sponsor, the free Plan-B guide from ExPatMoney.
• Bob's Understanding Money Mechanics. Bob's aggressive plan for US fiscal reform. Bob's case for Texas secession.
• The HamanNature substack.
• Help support the Bob Murphy Show.

GMU economics professor Bryan Caplan discusses his recent substack series going through Rothbard's classic, For a New Liberty, chapter by chapter.

Mentioned in the Episode and Other Links of Interest:

• The YouTube version of this episode.
• The cited chapter summaries from Bryan Caplan's review of Rothbard: nine, twelve, thirteen, fourteen, and fifteen.
• This episode’s sponsor, the free Plan-B guide from ExPatMoney.
• Help support the Bob Murphy Show.

Adam Haman helps Bob dissect a recent episode of the Coleman Hughes show, where he interviewed Iman Virjee on his new book on asset bubbles. Bob clarifies the description, and then pushes back on Virjee's analysis of the Great Depression.

Mentioned in the Episode and Other Links of Interest:

• The YouTube version of this episode.
• Coleman Hughes' interview of Aman Virjee.
• This episode’s sponsor, the free Plan-B guide from ExPatMoney.
• Bob's article on the Depression of 1920-1921. Bob's book on the Great Depression. Bob's presentation on theories of the Depression.
• The HamanNature substack.
• Help support the Bob Murphy Show.

Relying on his Journal of Libertarian Studies review essay of Kevin Carson' book on mutualism, Bob first explains--and then critiques--the labor (and cost) theory of economic value. This was not exclusively a Marxist idea; it was held by Adam Smith and other classical economists.

Mentioned in the Episode and Other Links of Interest:

• Bob's paper in the JLS critiquing the labor theory of value.
• This episode’s sponsor, the free Plan-B guide from ExPatMoney.
• Help support the Bob Murphy Show.

Adam Haman returns for another literary episode, this one reviewing Larry McMurtry's classic Western, "Lonesome Dove." He and Bob praise not just the story, but the novel's writing too.

Mentioned in the Episode and Other Links of Interest:

• The YouTube version of this episode.
• This episode’s sponsor, the free Plan-B guide from ExPatMoney.
• The HamanNature substack.
• Help support the Bob Murphy Show.

Economist Brian Albrecht explains his discovery of a surprising--but critical--missing link in a popular argument against market power. Specifically, Brian shows that the standard work in this literature doesn't even allow consumer harm as a possibility of firms merging.

Mentioned in the Episode and Other Links of Interest:

• The YouTube version of this episode.
• Albrecht's paper on the weakness in the waterbed argument. His substack (with Josh Hendrickson).
• Bob's past discussion with Brian. Bob's interview of Eric Weinstein.
• This episode’s sponsor, the free Plan-B guide from ExPatMoney.
• Help support the Bob Murphy Show.

Adam Haman returns to help Bob offer praise and criticism for Jeremy Kauffman's recent speech at the Libertarian Party's national convention, as well as his appearance on the Tom Woods Show.

Mentioned in the Episode and Other Links of Interest:

• The YouTube version of this episode.
• Jeremy Kauffman's appearance on the Tom Woods Show. His address to the LP national convention.
• Jeremy's interview on BMS ep. 368.
• This episode's sponsor, the free Plan-B guide from ExPatMoney.
• The "Universal Principles of Liberty."
• The HamanNature substack.
• Help support the Bob Murphy Show.

Drawing on the work of British idealist philosopher Bernard Bosanquet, Callahan argues that standard depictions of an "anarcho-capitalist" society, whether practical or not, would constitute a "State."

Mentioned in the Episode and Other Links of Interest:

• The YouTube version of this episode.
• Gene Callahan's article on anarchism.
• Bob's pamphlet, Chaos Theory.
• Help support the Bob Murphy Show.

Adam Haman joins Bob to critique an article making an Austrian case for Alexander Hamilton's "American System." Specifically, the plan favored national banking, protective tariffs, assumption of state debts, a preference for "productive" credit, and infrastructure projects. Bob pushes back.

Mentioned in the Episode and Other Links of Interest:

• The YouTube version of this episode.
• The article praising Hamilton's American System.
• Burt Folsom's wonderful The Myth of the Robber Barons.
• This episode’s sponsor, The Scott Horton Academy.
• The HamanNature substack.
• Help support the Bob Murphy Show.

With co-author Chris Coyne, Abby Hall has a new book serving as an introduction to the Austrian School. As she and Bob discuss, the book fills a niche in the existing options of this genre.

Mentioned in the Episode and Other Links of Interest:

• The YouTube version of this episode.
• Abby Hall's new book (co-authored with Chris Coyne), Austrian Economics: An Introduction.
• The prior BMS interview of Abby (on Latin American military intervention).
• Help support the Bob Murphy Show.