Haman Nature

This is a free preview of a paid episode. To hear more, visit hamannature.substack.com

We dive in to the second half of the book “Economics In Three Lessons and 100 Economic Laws” by Hunter Lewis and read through of Economic Law #8. We will present each economic law as a standalone BONUS episode for our paid subscribers only. Thank you for your support and we hope you enjoy!

On this crossover episode, Adam Haman and economist Bob Murphy take the Wayback Machine to a 2018 Soho Forum debate between Bob and economist George Selgin about whether Fractional Reserve Banking (FRB) poses a threat to the stability of market economies.Bob makes of Adam a simple request: "Tell me why I lost this debate."00:00 — Intro. The topic for this episode is bonkers!02:55 — What was this debate all about? 05:25 — Why Bob Lost Reason 1) Oxford-style voting.08:30 -- Why Bob Lost Reason 2) Dressing for success.10:40 -- Why Bob Lost Reason 3) Delivery. (Featuring Clip 1: Jimmy Stewart)20:30 — Why Bob Lost Reason 4) Selgin's argument was an easier sell.21:30 — Why Bob Lost Reason 5) An important assertion not effectively refuted. Also, Adam blames Bob for not inventing time travel.29:20 — Clip 2: Gene Epstein tees Bob up. Did Bob swing and miss? Also: chemical gas?44:15 — Clip 3: Selgin the empiricist, Scottish banking, and what would the magnitude of FRFB booms/busts be w/o a central bank and government regulations?58:30 — Clip 4: Selgin's closing statement.1:03:18 — Clip 5: Bob's closing statement.1:10:50 — Outro and final thoughts. Thank you for supporting Haman Nature!Sponsor mentioned: https://ExpatMoney.com/Murphy2018 debate mentioned:

Bob's 2019 article that sprang from this debate: https://mises.org/quarterly-journal-austrian-economics/more-quibbles-problems-theory-and-history-fractional-reserve-free-banking

Sponsor mentioned: https://ExpatMoney.com/MurphyHaman Nature Merch Store: https://shop.hamannature.comAdam on X: https://x.com/Rerazer Bob on X: https://x.com/BobMurphyEcon The Bob Murphy Show: https://www.bobmurphyshow.com/ Adam’s other show: https://naturalorderpodcast.com

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hamannature.substack.com/subscribe

Adam Haman invites Matthew Sands from the Nations of Sanity project back to the show to discuss what an anarcho-libertarian society might look like by analyzing Adam's "Alex in AnCapville" article. What would it really be like, and how do we get there?00:00 — Intro. Welcoming Matthew Sands!00:53 — Responding to a video Matt made recently (linked below). How can we implement the Nations of Sanity project?22:48 — Responding to Matt's criticisms/comments about Alex in AnCapville.30:50 — Private property, easements, covenants, and "the commons".50:25 — Are covenant communities inevitable? Will there be other arrangements? And how can we achieve freedom? What is the path? What is the mechanism?1:23:11 — Outro. Thank you for supporting Haman Nature!Article mentioned: A Day in the Life of Alex in AnCapville: https://open.substack.com/pub/hamannature/p/a-day-in-the-life-of-alex-in-ancapvilleNations of Sanity video mentioned:

Matt's website: https://nationsofsanity.com The Universal Principles of Liberty: https://theuniversalprinciplesofliberty.com/enHaman Nature Merch Store: https://shop.hamannature.comAdam on X: https://x.com/Rerazer Adam’s other show: https://naturalorderpodcast.com

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hamannature.substack.com/subscribe

This is a free preview of a paid episode. To hear more, visit hamannature.substack.com

We dive in to the second half of the book “Economics In Three Lessons and 100 Economic Laws” by Hunter Lewis and read through of Economic Law #7. We will present each economic law as a standalone BONUS episode for our paid subscribers only. Thank you for your support and we hope you enjoy!

On this crossover episode, Adam Haman and economist Bob Murphy take a second bite at critiquing/analyzing The American System, using the essays of Joe Withrow (phoenicianleague.com) as a launching off point. Does the system have any real merits? What about versus the available political alternatives? Wisdom and nuance inside!00:00 — Intro. Adam apologies for a misconstrual. Bob apologies for not being a reader.03:43 — The Crime of 1873. What happened and why? Why is it important? 15:10 — What exactly is the American System? It has changed over time.19:25 — Adam vs Bob: Steel-manning the arguments in favor of the American System.1:09:40 — Outro and final thoughts. Thank you for supporting Haman Nature!

Sponsor mentioned: https://ExPatMoney.com/MurphyHaman Nature Merch Store: https://shop.hamannature.com

Website and article series mentioned: https://phoenicianleague.com/Previous Hn episode mentioned:

Adam on X: https://x.com/Rerazer Bob on X: https://x.com/BobMurphyEcon The Bob Murphy Show: https://www.bobmurphyshow.com/ Adam’s other show: https://naturalorderpodcast.com

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hamannature.substack.com/subscribe

On this crossover episode, Adam Haman and economist Bob Murphy analyze an interesting discussion about asset bubbles, their causes and effects, the Great Depression, and the housing bubble that popped leading into the 2008 crisis. Can asset bubbles actually be a good thing? What is the truth of it? Answers inside!00:00 — Intro. God v Gremlins01:02 — Coleman Hughes recently interviewed Aman Verjee. Initial thoughts?03:28 — Clip 1: What is an asset bubble? How is it defined? 17:49 — Clip 2: Where do asset bubbles form? What elements must be present for a bubble to form? Can asset bubbles be good? Is Artificial Intelligence in 2026 a bubble?44:53 — Clip 3: What's the truth about the Great Depression?1:14:24 — What caused the Housing Bubble that lead up to the 2008 crash? 1:20:27 — Outro and final thoughts. Thank you for supporting Haman Nature!Sponsor mentioned: https://ExpatMoney.com/MurphyHaman Nature Merch Store: https://shop.hamannature.comAdam on X: https://x.com/Rerazer Bob on X: https://x.com/BobMurphyEcon The Bob Murphy Show: https://www.bobmurphyshow.com/ Adam’s other show: https://naturalorderpodcast.com

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hamannature.substack.com/subscribe

This is a free preview of a paid episode. To hear more, visit hamannature.substack.com

We dive in to the second half of the book “Economics In Three Lessons and 100 Economic Laws” by Hunter Lewis and read through of Economic Law #6. We will present each economic law as a standalone BONUS episode for our paid subscribers only. Thank you for your support and we hope you enjoy!

Adam Haman and Tyrone the Porcupine Hobo dive a little deeper into one of Adam's recent Substack articles, "A Day in the Life of Alex in AnCapville" (linked below). People who cannot be persuaded by polemics and academic treatises can often be reached through simple narratives. After all, stories are our native structure. They are literally how we think, learn, and live. 00:00 — Intro. Follow us on Substack at https://HamanNature.Substack.com!01:27 — Libertarians need to learn to "show, don't tell". Polemics don't persuade most folks.06:32 — How art can affect people in powerful ways: Star Trek edition!13:25 — Let's dive into the article! What do HOAs and insurance companies have to do with liberty? Was statism necessary for human development? And of course, who will build the roads?41:42 — Are the rules the same everywhere, or in every interaction? How are disagreements handled? 55:20 — What about crime? Is this safe? What happens to criminals in this society? Also, should we abandon the term "libertarian"? Are there better options?1:14:28 — Outro. Thank you for supporting Haman Nature!Article mentioned: A Day in the Life of Alex in AnCapville: Join the Haman Nature Substack for daily articles and bonus content! https://hamannature.substack.com Haman Nature Merch Store: https://shop.hamannature.com

Other books (a very incomplete list) on anarcho-libertarianism:For a New Liberty and The Ethics of Liberty and Anatomy of the State by Murray RothbardThe Market for Liberty by Morris and Linda TannehillChaos Theory by Robert MurphyThe Machinery of Freedom by David FriedmanDemocracy: The God that Failed by Hans-Hermann HoppeThe Problem of Political Authority by Michael HuemerThe Ethics of Anarcho-Capitalism by Kris Borer (This is also told in narrative structure!Adam on X: https://x.com/Rerazer Adam’s other show: https://naturalorderpodcast.com

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hamannature.substack.com/subscribe

Adam Haman and economist Bob Murphy are back to analyzing books and movies on this crossover episode! On tap today is the 1985 novel Lonesome Dove by Larry McMurtry. This classic Western has it all! We also play a couple clips from the TV miniseries from 1989. Enjoy!00:00 — Intro. Adam and Bob's Crossover Book and Movie Club presents: Lonesome Dove!00:52 — Let's dive in! What are the initial thoughts of the fellas about Lonesome Dove?10:45 — Clip 1: Gus and Call revisit an old watering hole.21:56 — Clip 2: Call doesn't tolerate rude behavior. Beware.37:00 — Deeper thoughts on the merits of this novel and its various themes and elements.1:14:20 — Outro. Thanks for watching Haman Nature! Sponsor mentioned: https://ExpatMoney.com/MurphyHaman Nature Merch Store: https://shop.hamannature.comAdam on X: https://x.com/Rerazer Bob on X: https://x.com/BobMurphyEcon The Bob Murphy Show: https://www.bobmurphyshow.com/ Adam’s other show: https://naturalorderpodcast.com

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hamannature.substack.com/subscribe

Adam welcomes to Haman Nature Michael Fraser, co-founder of Action/Insight and a man very familiar with both Austrian economics and the inner workings and capabilities of the Large Language Models (LLMs) we are calling Artificial Intelligence these days. Michael has a fascinating claim for us to explore. Are these LLMs more than "just" machines? Are they Misesian actors? Let's find out!00:00 — Intro. Welcoming a smart and fascinating fellow, Michael Fraser! Who is this guy and why are we listening to him about LLMs and Misesian action?09:00 — Michael lays out his thesis: LLMs (regardless of any theory of consciousness) are Misesian actors in the world. Mises's theory has broader applications than are required to understand markets.14:40 — What things are Misesian actors and what aren't? Is there a spectrum? Are there levels? Calculators? Beavers? Dogs (mine or yours?), LLMs? Politicians? What is Misesian action? How do we evaluate teleology with regard to LLMs?27:40 — Time, interaction, iteration, trajectory: how do these concepts relate to this issue? How should we think of LLMs? How many "Claudes" or "Groks" are there, could be, or have ever been?35:33 — How does math (and reality itself?) constrain how LLMs exist and act in the world? How does path dependency relate to this question?41:20 — How do we know Michael isn't just being fooled by a fancy word model and hallucinating Misesian action? How do Mises's "alter ego warrants" relate to us being fooled about "personhood"?47:19 — On a Misesian action spectrum, between calculator and humans, where should we place beavers, dogs, chess engines, LLMs, Teslas, and your cousin Ernie? Are there levels? Does qualia have anything to do with this?53:02 — How should we understand LLM "hallucinations" within Michael's framework? Are LLMs "answer machines" or "useful cauldrons"?59:02 — How should we think about the Turing Test vis-a-vis LLMs?1:04:44 — How should we think about the terms AI, AGI, ASI, etc? Are these terms meaningful?1:09:30 — Why does interaction with another matter? Surely Misesian action occurs when we act alone, right? What does the classic Robinson Crusoe economics case reveal here?1:13:09 — Do we need an "LLM rights tribunal" because of the way we treat LLMs?1:18:27 — Does Adam buy Michael's argument?1:19:58 — What does Michael think is happening inside an LLM?1:30:30 — Outro. Thanks for watching Haman Nature!Michael on X: https://x.com@zeroshotnothingMichael's paper presented at the AERC: https://austrianintelligence.orgMichael's business: https://actioninsight.aiMichael's interview with Bob Murphy on the Infineo podcast, explaining his recent paper "Artificial Action" that he presented at the Austrian Economics Research Conference:

Michael's previous appearance on the Infineo podcast:

Michael on the Bob Murphy Show:

Sponsor mentioned: https://TheSwanBrothers.com/crossoverHaman Nature Merch Store: https://shop.hamannature.comAdam on X: https://x.com/Rerazer Bob on X: https://x.com/BobMurphyEcon The Bob Murphy Show: https://www.bobmurphyshow.com/ Adam’s other show: https://naturalorderpodcast.com

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hamannature.substack.com/subscribe