Posts Tagged ‘Walter Block’

English: Cover of the 2011 edition of The Aust...

The impression given by the 501(c)(3) tax-exempt Ludwig von Mises Institute that claims to hate government so much is that the Austrian School of economics has all the answers for what ails us, economically.

But what do we find with a little digging into what prominent Austrian School economists and devotees themselves say?

From the February 21, 2010 Daily Bell interview with Lew Rockwell (emphasis mine):

Daily Bell: Is the logical outcome of Austrian economics the disappearance of the state?

Rockwell: Mises didn’t think so; neither did Hazlitt. Sudha Shenoy argues that of all the people who entertained the possibility of society without a state in that generation, Hayek comes closest to embodying the anarchistic temperament. In any case, the man who made the real difference in the Austrian School in this regard is Rothbard. It was he who pushed the theoretical apparatus “over the edge,” so to speak. Hardly any modern Austrian today is not an anarchist. This is also thanks to Rothbardians such as Walter Block, Hans-Hermann Hoppe, and David Gordon, of course. At one time Rothbard was denounced for his views, for having allegedly marginalized the School. Now, of course, his anarchism is probably the largest part of the legacy he left for the world. It is very appealing to young people, unlike the statism of regime economists.

Rockwell: Rothbard condemned patents but not copyrights. Mises and Machlup saw patents as government grants of monopoly, but neither condemned them outright. Hayek was against copyrights and patents, but didn’t write about them much. It is digital media that have brought the issue into focus. The key thinker here is Stephan Kinsella. He and Jeffrey Tucker have done the heavy lifting and convinced most all of us that intellectual property is an artifice that has no place in a market economy.

What an interesting admission, that Mises apparently didn’t hate the state enough — compared to Murray Rothbard — in not actually condemning particular government grants of monopoly.

For more on disagreements and misunderstandings among Austrian School economists and devotees, see my articles:

1) Austrian School economist George A. Selgin pointed out a flaw in von Mises’ case for a gold standard

2) Gary North, before correcting Ellen Brown’s mistakes, correct your own

3) Dr. Walter Block calls Gary North out on yet more mistakes!

4) Mises devotees don’t know that Mises said inflation isn’t a tax

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Subsequent to my interview of financial analyst Joseph Meyer of Straight Money Analysis on the August 26, 2012 episode of Exposing Faux Capitalism with Jason Erb, I helped to arrange an interview for him on Radio Liberty with Dr. Stan Monteith, August 31, 2012 at 6 PM Eastern.

Previously, I helped to arrange interviews for Dennis Marker, author of Fifteen Steps to Corporate Feudalism, Dr. Walter Block, author of Ron Paul for President in 2012, and Dr. Peter Duesberg, author of Inventing the AIDS Virus.

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Stefan Molyneux

English: Stefan Molyneux speaking at Drexel University. (Photo credit: Wikipedia)

Stefan Molyneux, philosopher and host of Free Domain Radio, was interviewed by Jan Irvin, host of Gnostic Media, and the interview was posted on March 31, 2012.

Starting at 57 minutes in, they get into what becomes a heated discussion on gold as currency.

Molyneux states at the top that his definition of fiat currency is “a monopoly currency backed by nothing.”

Molyneux’s body language changes dramatically as the discussion progresses, and that was as interesting to me as any words that were said, as Irvin passionately interrupted him many times.

Molyneux was focused on gold only being an issue when there is a government monopoly over it, while Irvin was concerned with the historical manipulation of gold by banksters, and how they can subvert free choice in the marketplace, specifically using gold.

Irvin mentions the late David Astle’s book, The Babylonian Woe, and recounts information that I had heard from George Whitehurst-Berry earlier this year, which is how the Spartans specifically used non-commodity money, and were prosperous until their money was subverted, specifically with gold.

I plan to say more about this revealing interview later, but for now, check it out for yourself.

For more on Stefan Molyneux, see my articles:

Stefan Molyneux does hate the state, and Walter Block of the Mises Institute, doesn’t.

The most free societies sow the seeds of their own destruction?

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The Fifteen Steps to Corporate FeudalismI arranged the July 31, 2012 interview with Dennis Marker, author of Fifteen Steps to Corporate Feudalism, on Dr. Stan Monteith’s Radio Liberty (available for a limited time).

Dr. Stan differed with Marker on several points, as I do, including his use of the word democracy instead of republic, and his support for federal government spending beyond its originalist constitutional boundaries.

Overall, Dr. Stan agreed with most of Marker’s points, as I do.

For my July 15, 2012 interview with Marker, see here.

I previously arranged interviews for Dr. Walter Block and Dr. Peter Duesberg.

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On the July 15, 2012 episode of Exposing Faux Capitalism with Jason Erb, I covered the following articles:

1) Dennis Marker, author of Fifteen Steps to Corporate Feudalism scheduled to be on Exposing Faux Capitalism, July 15, 2012.

2) Charlie Rose’s pro-Big Pharma panel on Multiple Sclerosis

3) Austrian School economist Dr. Walter Block admits the Austrian definition of inflation is inadequate

And in the second hour, I interviewed Dennis Marker on his book.

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Gary North speaking at the Mises Institute aft...On June 8, 2012, I wrote the article, Gary North, before correcting Ellen Brown’s mistakes, correct your own, about mistakes that fellow Austrian School economist, Dr. Walter Block, had noted about Gary North.

On June 27, Dr. Walter Block noted yet more mistakes by Gary North.

Here are some select quotations:

But this is an error. As it happens, in a previous blog, I pointed out this very mistake of his:

However, Dr. North either did not read this, or ignored it if he did, and is still repeating his misinterpretation of Rothbardian anarchism.

Now this is just plain silly. Did Dr. North not ever hear of private defense agencies that Murray Rothbard wrote about again and again?

So Professor Jesus Huerta de Soto is entirely correct on this particular dispute between them, and Dr. North is in error.

Credit goes to Lew Rockwell for publishing dissent among fellow Austrian economists, and to Walter Block for calling out Gary North on his mistakes and outlandish claims, as I have many times in the past.

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English: This image is of economist Walter Blo...

In his June 4, 2012 interview with Dr. Stan Monteith of Radio Liberty, which I helped to arrange, Dr. Walter Block stated (at 26:28):

Well, there are two definitions of inflation — one is an increase in the money supply, and the other is higher prices. The Austrians go for the first one, the more mainstream economists go for the second. I guess I go for both.

I always thought the definition of inflation as simply an increase in the money supply to be a facile definition, since despite an increase in the money supply leading to an increase in general prices in the long-run, it fails to address things that are more relevant to one’s particular daily circumstances, such as being underwater in your home mortgage because of rapidly falling prices.

As it turns out, Austrian economist Dr. Walter Block also agrees that the Austrian School definition is inadequate.

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