The Human Action Podcast

David Brady Jr. discusses his recent article at Mises.org, in which he argues that the newly launched "FedNOW" system isn't a CBDC. Even so, there are dangers from FedNOW, such as exacerbating bank runs. David also explains the new Mises Apprenticeship program, of which he is a member.

David's Article on Mises.org: https://Mises.org/HAP406a

George Selgin Cato Article on FedNow: https://Mises.org/HAP406b

George Gammon, host of the popular Rebel Capitalist show, warns that the Fed won't have to force the public to adopt a central bank digital currency (CBDC). Instead, the public might clamor for it, being promised safe, high-interest checking accounts at the Fed, just like Jamie Dimon.

The Rebel Capitalist show: https://Mises.org/HAP405a

Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: https://Mises.org/Nashville23

Robbie "The Fire" Bernstein is a co-host with Dave Smith of the popular podcast Part of the Problem, as well as his own podcast Run Your Mouth. He joins Bob to walk through the shocking and hilarious moves by Biden officials to downplay recent allegations of corruption.

Find More from Robbie Including His Tour Dates: https://Mises.org/HAP404a

$5.1M Payment to Biden Businesses: https://Mises.org/HAP404b

Biden Attorneys on The Hunter WhatAspp Message: https://Mises.org/HAP404c

Bob walks through a recent interview of MMT champion Warren Mosler, in which he claims that Fed rate hikes lead to larger government interest expenses and hence support economic growth and inflation. Bob presents both theoretical and empirical evidence against Mosler's claims.

Bob's Debate with Warren Mosler: https://Mises.org/HAP403a

Bob's Review of Stephanie Kelton: https://Mises.org/HAP403b

Bob's EconLib Article on Austerity: https://Mises.org/HAP403c

Technical Article on Why the Treasury Can't Overdraft: https://Mises.org/HAP403d

The Mises Institute's Executive Editor Ryan McMaken joins Bob to discuss his latest article, in which Ryan spells out the state of the M2 money supply and possible implications for consumer prices and an impending recession.

Ryan's Mises.org article on M2: https://Mises.org/HAP402a

Ryan's QJAE article on the inverted yield curve: https://Mises.org/HAP402b

Mises Institute Fellow Patrick Newman joins Bob to discuss a recent tweet from Stephanie Kelton, which argued that the government's "red ink makes our black ink possible." Patrick and Bob point out that these MMT tautologies are very misleading at best. Patrick also lays out the argument in his journal article, saying that MMT's debt monetization won't cause a boom-bust cycle, but will still reduce living standards.

University of Rochester economist Steve Landsburg joins Bob to discuss the abysmal performance of ChatGPT on his undergraduate exam. They also discuss the importance of market prices in guiding behavior and the unexpected problems with the government handing out "free" goodies.

Bob's article "Superman Needs an Agent:" https://Mises.org/HAP400a

Steven's Book The Armchair Economist: https://Mises.org/HAP400b

More Economic brainteasers: https://Mises.org/HAP400c

Jonathan Newman joins The Human Action Podcast to discuss his recent Twitter controversy over the claim that market prices can be "wrong" (i.e. in disequilibrium) if they are "sticky."

Jonathan Newman's Twitter controversy on sticky prices: https://Mises.org/HAP399a

Joe Salerno on Mises's Monetary Theory: https://Mises.org/HAP399b

Bagus and Howden on market disequilibrium and sticky prices: https://Mises.org/HAP399c

Per Bylund joins Bob to discuss his new paper at the QJAE, which points out several flaws in the MMT claim that money is valued in order to pay taxes.

Per's QJAE article: https://Mises.org/HAP398a

Bob originally invited Brian Albrecht (Chief Economist of the International Center for Law & Economics) to discuss the work of Armen Alchian, but on the day of recording, Robert Lucas happened to die.

Bob and Brian discuss rational expectations, real business cycle theory, and how Alchian cracked the military's top secrets.

Brian on Alchian's famous "Costs and Outputs" paper: https://Mises.org/HAP396a