Mises Media

On the latest episode of Minor Issues, Mark Thornton discusses the recent whiplash in precious metals: historic run-ups, sharp pullbacks, and renewed claims of manipulation. He also explains how, as war and liquidity pressures evolve, markets pivot back to credit stress, rising interest rates, and ballooning government debt. What will central banks do next?

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Foreign policy scholar Brandan Buck join Ryan McMaken to talk about whether or not a US tactical victory in Iran can lead to a strategic victory as well. And what does victory for the Iranian state look like? Are there any prospects for a lasting peace? 

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Bob untangles two arguments that even Austrian economists sometimes conflate: Mises' calculation problem and Hayek's knowledge problem. Then, he explains why the distinction matters, especially in light of recent claims that AI and modern computing could finally make central planning viable.

Related:

• Bob's Article, "Socialism: The Calculation Problem Is Not the Knowledge Problem": Mises.org/HAP543a

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Drawing on Rothbard's writings on money and central banking, Murray Sabrin makes the case that inflation is a hidden tax, the Federal Reserve is neither independent nor beneficial, and that ending central banking is the unfinished business of the American Revolution.

Part of the faculty panel entitled "What Rothbard Can Teach the Informed Layperson About Economics". 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Drawing on Rothbard's essay on inequality and the division of labor, Dr. Lucas Engelhardt argues that human diversity is the very foundation of comparative advantage and prosperity, and that billionaires arise either by serving large numbers of people through the market or by extracting wealth through political connections.

Part of the faculty panel entitled "What Rothbard Can Teach the Informed Layperson About Economics". 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Dr. Tate Fegley uses Rothbard's theory of demonstrated preference to dismantle the mainstream public goods framework, showing that claims of market failure and welfare improvement by the state have no scientific basis because they contradict what individuals actually reveal through their choices.

Part of the faculty panel entitled "What Rothbard Can Teach the Informed Layperson About Economics". 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Dr. Per Bylund unpacks Rothbard's concept of the capitalist entrepreneur as the economy's true mover and shaker: the figure who not only forecasts future consumer demand but puts real capital behind those forecasts, bearing uncertainty and driving the structure of production.

Part of the faculty panel entitled "What Rothbard Can Teach the Informed Layperson About Economics". 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

Drawing on Man, Economy, and State, Dr. Jonathan Newman walks through Rothbard's theory of price formation and competition, showing that prices reflect subjective preferences, not seller greed, and that the only consumer-harming monopolies are those created by the state.

Part of the faculty panel entitled "What Rothbard Can Teach the Informed Layperson About Economics". 

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition.

The TSA stories, especially at Atlanta, are illustrations of interventionist non-intervention: non-delivery of promised, paid-for, and monopolized service.

Original article: https://mises.org/mises-wire/atlanta-tsa-and-test-case-interventionist-non-intervention

On this episode of Power and Market, Ryan, Tho, and Connor talk about the historic waits thanks to DC's monopoly on airport security, and Joe Kent's resignation over the Iran War.