The Human Action Podcast

The Human Action Podcast features in-depth interviews on current topics in economics through an Austro libertarian lens.

Robert P. Murphy
Bob revisits capital and interest theory to show why the textbook result “interest = MPK” only holds in a one-good world, and why in actual markets the interest rate emerges from time, prices, and capital valuation—not raw productivity.
Robert P. Murphy
Prompted by an online debate about whether economics belongs with the hard sciences, Bob reviews common defenses of mainstream practice and explains why they don’t settle the scientific status of the field.
Bob Murphy and Jonathan Newman walk through his claim that real‑world exchanges clear markets—even with supposedly “sticky” prices—and what that implies for money, contracts, inventories, and unemployment statistics.
Robert P. Murphy
Is paying down the federal debt a recession trigger? Bob takes on the MMT claim and checks the record, citing US debt payoffs, Canada’s 1990s reforms, and ECB case studies.
Alex Pollock joins the Human Action Podcast to explain his recent Congressional testimony on how Congress should reform the Federal Reserve’s mandates.
Robert P. Murphy
Bob explains Lerner’s Symmetry Theorem and shows how tariffs ripple through exchange rates, exports, and trade balances—then tests those predictions against today’s Trump-era tariff shocks.
Robert P. Murphy
Bob breaks down the fears about AI-driven unemployment and shows why economic reasoning still favors human prosperity in a high-tech world.
Jonathan Newman joins Bob to unpack Eliezer Yudkowsky’s viral bubble theory and contrasts it with the Austrian view of boom-bust cycles.
Professor Georgy Ganev joins Bob to explain that, contrary to the claims of David Graeber and the MMTers, the barter origin of money has not been refuted.
Robert P. Murphy
Bob explains why blaming private equity for America’s housing woes misses the deeper economic forces at play, from speculation to Federal Reserve intervention.
Robert P. Murphy
Jeff Degner joins Bob Murphy to explain how inflation reshapes marriage, fertility, and family life, linking Austrian monetary theory to today’s cultural hurdles.
Robert P. Murphy
Bob analyzes the myth of Federal Reserve independence, exposing its political nature and long history of serving power.
Peter Klein joins to discuss the Mises Institute's new book, Hayek for the 21st Century—exploring knowledge, competition, money, and why freedom beats central planning every time.
Robert P. Murphy
Rothbard argued that the Fed stripped away the natural checks of free banking, paving the way for endless credit expansion and inflationary cycles.
Robert P. Murphy
Bob breaks down the mechanics behind how commercial banks create money out of thin air—and why that power fuels economic booms and busts.
Robert P. Murphy
Bob Murphy critiques New York Assemblyman Zohran Mamdani’s proposal for a government-run grocery store, dissecting its economic flaws and highlighting why such policies fail in practice.
Bob Murphy and Jonathan Newman offer a comprehensive Austrian response to Richard Werner’s claims on the Tucker Carlson Show about banks, money creation, and credit theory.
Robert P. Murphy
Bob Murphy and Jason Priddle discuss the GENIUS Act, stablecoins, and what the future holds for cryptocurrency regulation and monetary freedom.
Robert P. Murphy
Bob provides a detailed, realistic plan for abolishing the Federal Reserve and returning to a stable, gold-backed monetary system.
Robert P. Murphy
Bob dismantles the arguments supporting the Federal Reserve and presents a clear strategy for its abolition and replacement.