The Tom Woods Show

Neoclassical economics insists that a separate class of goods, called "public goods," cannot, because of their peculiar characteristics, be efficiently provided by the market and must instead be financed and produced by the state. The Austrian School rejects this line of argument. Today Jakub Wisniewski, author of a new book on the subject, takes on public goods theory and addresses the two toughest cases: law and defense services on the market. Show notes for Ep. 1277

Paul Counts has been an entrepreneur since he began selling pencils at age 8. He's been making his living online for 19 years. He knows both the tech side and the marketing side inside and out -- a rare combination. (I've purchased a lot of his training programs myself.) Since I met Paul in Orlando last March, we've partnered up on several projects together. He's very successful online and (as I've discovered for myself) extremely knowledgeable, so I thought I'd give you good folks a chance to hear from him. Show notes for Ep. 1276

In this episode I delve into some myths and truths of U.S. monetary history, from the colonial period through the creation of the Federal Reserve. The second part is a treat: some audio footage, recorded on the Contra Cruise, of Bob, Tatiania Moroz, and I as contestants in the Crypto Quiz Show, hosted by Naomi Brockwell. Show notes for Ep. 1275

Lysander Spooner, the great 19th-century individualist anarchist, evidently wrote on banking and currency competition, but those works had been lost until now. Phil Magness, through some clever detective work, tracked them down and they're now available, published via the American Institute for Economic Research! (They also shed light on whether Spooner sympathized with socialism or left-libertarianism.) Show notes for Ep. 1274

Donald Trump has indicated his desire to overturn the practice of birthright citizenship, a position Ron Paul and Rand Paul alike have long held. Opponents claim the Fourteenth Amendment requires birthright citizenship. Does it? Show notes for Ep. 1273

Fresh off his Soho Forum debate victory (as measured by Oxford-style rules) against Jacobin magazine editor Bhaskar Sunkara, Gene Epstein joins me for a review of the event and the arguments that gave his opponent so much difficulty. Show notes for Ep. 1272

Why, the reason so many college professors have identical thoughts and hold the same political positions is that they are very smart and all these thoughts and positions are just the logical outcomes of sound thinking. Or that's how left-liberals interpret the situation. I, on the other hand, offer a dissenting voice. Show notes for Ep. 1271

Here's where we libertarians are most often ridiculed -- why, the monetary system we favor is for cranks, they say, and what's more, it's already been tried! Uh huh. In this episode I make the case for money the state can't control. Show notes for Ep. 1270

Ten years after the financial crisis, the standard story still dominates: "deregulation" caused it. This is not even slightly true. It's urgent that we get this right, and not let the Fed's apologists (and the simply lazy) get away with this comic-book answer that encourages all the wrong kinds of policy responses. Show notes for Ep. 1269

Mark Skousen joins me to discuss highlights and lowlights of the history of economic thought, and what we can learn from both. Show notes for Ep. 1268

The Facebook purges continue, with recent victims including the Free Thought Project (3.1 million likes), Police the Police (1.9 million likes), and V is for Voluntary (165,000 likes). I speak to the folks behind these three pages today. Show notes for Ep. 1267

Jim Epstein of Reason TV just released a mini-documentary on the effects of the coming $15 minimum wage on one particular sector of the New York economy, and it's devastating. Show notes for Ep. 1266

Last week I spoke to a small gathering in Orlando of members of the Libertarian Party of Florida. Alex Merced, vice chair of the national party, spoke before me and introduced me. He spoke about his journey to libertarianism. I in turn asked what it is about libertarianism that it typically requires a journey to reach. If I told you my answer in the notes, that would take all the fun out of it. But I'll say that I'm pretty sure you will enjoy my conclusion. Show notes for Ep. 1265

Note the difference in reaction between telling someone you're going to college (congratulations and warm wishes) and telling someone you're taking a different path (skeptical line of questioning). T.K. Coleman joins me to smack down the typical line of questioning. Show notes for Ep. 1264

Matt Welch, editor-at-large of Reason magazine, joins me to discuss his background, how his views evolved, the state of the Libertarian Party, his experiences in eastern Europe, and a lot more. Show notes for Ep. 1263

The great Eric Peters returns with further updates from the world of automobiles. You don't have to be a car aficionado to benefit from Eric's knowledge, and as always we have an entertaining and informative conversation! Show notes for Ep. 1262

Philosopher Jim Otteson and I discuss his book Actual Ethics (Cambridge University Press), which advances a vigorous moral defense of the classical liberal, or libertarian, political tradition. We also discuss the claims of Peter Singer, who claims it is morally obligatory on each of us to give substantial aid to peoples overseas. Show notes for Ep. 1261

A recent post on a libertarian Facebook page suggested that only blind ideologues would dispute that the war in Afghanistan has been a success. After all, local polling data finds satisfaction with the U.S. invasion and occupation, and conditions there have certainly improved. Scott Horton, author of Fool's Errand: Time to End the War in Afghanistan, joins me to assess these claims. Show notes for Ep. 1260

Neoconservative historian and Council on Foreign Relations fellow Max Boot recently called on Americans, Republicans in particular, to vote a straight Democrat ticket in November. He just released a book called The Corrosion of Conservatism: Why I Left the Right. He's been writing and tweeting his regrets about not perceiving his white privilege sooner. (That's not a joke.) Paul Gottfried joins me to discuss what it all means. Show notes for Ep. 1259

When it comes to sound money and fiat paper, we libertarians are nearly always dismissed as cranks. Why, don't we know that we need the government to be able to create whatever amount of money the experts think best? Don't we know this system has worked much more smoothly than the gold standard ever did? Don't we know our system will lead to "deflation"?   In today's episode I take all this on.   Show notes for Ep. 1258