In this episode of the Human Action Podcast, Bob welcomes guest Joshua Mawhorter to discuss his recent article on the role of government in sustaining slavery. The conversation covers several key points, including slave patrols, fugitive slave laws, manumission restrictions, and constitutional subsidies. Mawhorter argues that slavery persisted largely due to government intervention rather than free-market mechanisms and highlights the inefficiencies and extensive costs associated with maintaining the institution. They also touch on modern discussions of reparations and the historical patterns of slavery's abolition in other countries.

• Josh's Mises Wire Article, "Governments Had a Major Role in Sustaining Slavery": Mises.org/HAP465a
• Mark Thornton, "Slavery, Profitability, and the Market Process": Mises.org/HAP465b
• Jeffrey Hummel, "The Political Economy of Slavery, Secession, and Emancipation": Mises.org/HAP465c
• Jeffrey Hummel, "U.S. Slavery and Economic Thought": Mises.org/HAP465d
• Alan Olmstead, "Cotton, Slavery, and the New History of Capitalism": Mises.org/HAP465e

Registration for the 2024 Mises Institute Supporters Summit is open for Mises Members: Mises.org/SS24

Bob goes solo to explain the contributions of Carl Menger and Ludwig von Mises to monetary theory. He then deals with the critique of David Graeber, who argues that the economists' story of the origin of money is bogus.

• Bob's Article, "Origin of the Specie": Mises.org/HAP464a
• R. A. Radford, "The Economic Organisation of a P.O.W": Mises.org/HAP464b
• Bob's Book, Understanding Money Mechanics: Mises.org/HAP464c

Get your ticket to Living Free in an Unfree World in Albuquerque, New Mexico: Mises.org/NM24

Dr. Jonathan Newman joins Bob to analyze Kamala Harris's proposals against price gouging, and how some mainstream economists defend Government price controls. They also address misconceptions about price gouging and the evolving mainstream narrative on inflation.

• Bob's Article on Harris's Anti-Price Gouging Proposals: Mises.org/HAP463a
• The Boston Globe Article Supporting Harris's Proposal: Mises.org/HAP463b

For the week only, get a FREE copy of Dr. Per Bylund's How to Think About the Economy: Mises.org/HAPodFree

Bob quotes from David Ricardo to show that the classical economists understood that utility was essential to explaining market value, but then he also explains why the Marginalist Revolution was a scientific advancement.

• Bob's Journal of Libertarian Studies Article on The Labor Theory of Value: Mises.org/HAP462a
• Human Action Podcast Episode 460, "What Does Say’s Law Really Say?": Mises.org/HAP462b
• David Ricardo, On the Principles of Political Economy and Taxation: Mises.org/HAP462c

For the next two weeks only, get a FREE copy of Dr. Per Bylund's How to Think About the Economy: Mises.org/HAPodFree

With recent market turbulence and new potential recession indicators emerging, Peter St. Onge joins Bob to examine whether market performance accurately reflects the true state of economic health. There is rising debt, growing entitlements, and ongoing structural issues within the US economy, Bob and Professor St. Onge analyze how these factors contribute to our current economic landscape and whether recent developments are indicative of a 1987-style crash or a 2008-style crash.

They also explain the Japanese carry trade, its impact on the dollar and Japanese markets, and the recent market fluctuations, including the significant decline in the Japanese stock exchange and the S&P 500.

• Dr. St. Onge, "Is it Black Monday or Another 2008?": Mises.org/HAP461a

The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Bob goes solo to give the historical context and true meaning behind "Say's Law," as well as the caricature presented by Keynesian critics.

• J.B. Say's A Treatise on Political Economy: Mises.org/HAP460a
• James Mill, "On the Overproduction and Underconsumption Fallacies": Mises.org/HAP460b

The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Recorded in front of a live audience at the 2024 Mises University, Bob discusses recent market turbulence with Mark Thornton. They also delve into the Skyscraper theory and the practicality of the Austrian Business Cycle Theory.

Mises University is the world’s leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream

• Dr. Thornton’s Minor Issues Episode on the Inverted Yield Curve: Mises.org/HAP459a
• The Skyscraper Curse: Mises.org/HAP459b
• Dr. Thornton's Article From 2004 on the Housing Market: Mises.org/HAP459c
• The Inverted Yield Curve from Understanding Money Mechanics: Mises.org/HAP459d
• Bob’s Econlib Article on Fiscal Austerity and Tax Rates: Mises.org/HAP459e

Join Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24

The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Prompted by a listener request, Bob gives the standard economic analysis of tariffs and other types of taxes. This is relevant because the populist Right is arguing for a hike in tariffs to fund income tax cuts.

• Bob's Article, "Carbon Taxes and the 'Tax Interaction Effect'": Mises.org/HAP458a
• Trump-Biden Tariff Tracker: Mises.org/HAP458b
• Bob and Dave Smith on Open Borders: Mises.org/HAP458c
• Frédéric Bastiat's Candlestick Makers' Petition: Mises.org/HAP458d

Join Peter Klein and Ryan McMaken in Albuquerque, New Mexico for a Mises event on strategy, economics, and decentralization of power. Register now: Mises.org/NM24

The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree