Posts Tagged ‘rothbard’

I recently had a great chat with Jeff Deist, President of the Ludwig Von Mises Institute in Auburn, AL. Jeff spoke to me about his experiences as Ron Paul’s Chief of Staff… and he answered a lot of fun questions on libertarianism in general. It was really insightful to get his take on the state of the movement today. Enjoy!

http://www.mises.org

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Recently Robert Wenzel of http://www.economicpolicyjournal.com spoke with Jack to give the listeners the basics of Austrian Economics.

http://www.economicpolicyjournal.com

http://www.amazon.com/The-Fed-Flunks-Federal-Reserve/dp/1312047232

What is the free market? By definition it is simply a system of voluntary exchanges, nothing more really. If you have a hat and I have ten dollars and we agree to exchange them, absent coercion we have both obtained something we prefer. I prefer the hat to the ten bucks and you prefer the cash. This simple system of voluntary exchanges has been vilified throughout our country’s history and has been blamed for everything from recessions and depressions to the business cycle, to low wages, to income inequality. We are told it is inherently flawed and predatory and a breeding ground for corruption, greed, fraud, scandal, etc. The pope recently told us the free market is evil basically… awesome! We hear this in the media. It is taught in the schools. The result of this perpetuation of the evil free market has been massive regulation, and controls placed on free exchange in an attempt to fix these perceived flaws. In a democracy, if most people believe the free market is to blame for a weak or volatile economy, they will elect those who will place more controls on the economy. Mysteriously these controls never fix the business cycle so we pass more rules, and round and round we go… at some point to gotta ask, “Is this really a free market?” (more…)