Perhaps John Maynard Keynes' best con job was convincing people that a growing economy needs inflation, lots of inflation. As David Gordon points out, however, Ludwig von Mises eloquently explained why inflation undermines the free market economy.
No macroeconomics or monetary theory course is complete without introduction of the Equation of Exchange, or MV = PQ. However, this equation explains nothing, praxeologically speaking. Instead, it clouds our understanding of how money fits into our economy.
The Trump team plans to tinker with government spending, but this does nothing to address the real problem which is the current inflationist monetary experiment.
Today on the Gist we go back to 2020 where Mike talked to New School Professor and MSNBC contributor, Maya Wiley. She is also the former chair of the NYC Civilian Complaint Review Board - an independent oversight agency of the NYPD. She and Mike talk about how civilians and police officers hold the force accountable, how they’ve failed and the level of complaints they take seriously. Finally, we play a spiel from earlier in the week.
The principles of investing are fairly simple to understand. Application requires some intensity.
William Green is the author Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life. Green also hosts a podcast with the same title. Robert Brokamp caught up with him for a conversation about:
- What successful investing comes down to.
- The personality traits of market beaters.
- Investing lessons from Charlie Munger, Howard Marks, and John Templeton.
Federal judges temporarily block several Trump Administration moves aimed at reshaping the government. One order halts efforts to dramatically reduce the personnel of the U.S. Agency for International Development, but USAID is at a standstill. The Kansas City Chiefs take on the Philadelphia Eagles at the Super Bowl on Sunday.
Quickie With Bob: Using Nukes to Deflect Asteroids; News Items: Near Earth Asteroid Threat, Does the Internet Affect Our Memory, Growing City Rat Problem, Do Apes Have a Theory of Mind, NASA Astronauts Harassed by Aliens; Who's That Noisy; Science or Fiction
We meet a volunteer vet who helps animals in need around the world. He says it's taught him to love life, and accept people. Also: an 88 year old foster dad; the joy of rare baby frogs; and why a pub gave away 300 pints.
Ian Maksin is one musician with a cello, but he can sound like an entire band. The cellist has toured the world, performing on his instruments and singing in nearly 40 languages. He has perfected bringing a fuller sound to audiences even when he’s playing solo. Reset sits down with Maksin ahead of a slew of shows in the Chicago area.
For a full archive of Reset interviews, head over to wbez.org/reset.