Just some thoughts about liberty messaging. It’s widely available and usually free. You can find pro-liberty commenters across the whole spectrum, from hardcore anarchists to relatively soft and cuddly pro-freedom voices.
Yet less than one person in a hundred actually is convinced.
Why?
Trying something a little new for this video–I’ve got a lavalier microphone and my phone set up in my office instead of in front of my PC. The audio quality is a bit worse, but the background is nicer. Is that an improvement?
Aaaaaanyway…
Today we’re covering the first half of Chapter 3. We’ll be looking at Rothbard’s arguments against Overproduction Theory, Underconsumption Theory, and the Acceleration Principle (which is actually a variation of Underconsumption Theory).
Check out my notes here.
Unfortunately, I was unable to find a convenient way to access W.H. Hutt’s “Coordination and the Price System.”
The best I could find were listings from a few university libraries: https://search.worldcat.org/title/28785415
However, the Phillips/McManus/Nelson book Banking and the Business Cycle is available free at the Mises Institute.
This video is available on Odysee and BitChute as usual.
Now, also available on YouTube!
I was inspired by part of a Lew Rockwell speech that was posted at the Mises Institute website last week!
Today, I’m talking about the dangers of positivism in economics. Basically, in complex systems like the economy, you need a logical, causal framework to evaluate ideas. A purely positivist (i.e., each idea must be tested empirically) approach can be disastrous.
Why? Because empirical testing of uncontrolled systems can lead to counterintuitive and non-generalizable results!
The temptation to fiddle endlessly becomes a source of wealth for the fiddler and a source of poverty for everybody else.
Not only are there unlimited legions of bad ideas to “test,” there are an equally unlimited number of statistical tests to apply to the subsequent data, and a finite confidence interval means some of those statistical tests will give you false positives!
Anyway, check out the video up top, and the show notes here.
This video covers chapter two, including an in-depth explanation of Figure 1 on page 48, with additional visual elements to help make it easier to understand.
I’ve been reading a bit about Modern Monetary Theory lately, and one argument I’ve seen a few times is that inflation and taxation are merely methods to transfer goods from the “private sphere” to the “public sphere.”