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Jason Burack of Wall St for Main St had on first time guest, Professor of Economics at Pace University, Academic VP of the Mises Institute https://mises.org/ and author of Money: Sound & Unsound, Dr. Joseph Salerno https://mises.org/profile/joseph-t-sa…
During this 40+ minute discussion, Jason asks Dr. Salerno about the difference between the Austrian School of Economics, Keynesian Economics, Monetarism and Marxism.
Dr Salerno summarizes these economic schools.
Next, Jason asks Dr. Salerno, which Austrian School of Economics books beginners who are curious should start with?
Jason then asks Joseph about Keynes and Keynesian Economics and why Keynesian Economics is largely to blame for the global economic problems we are experiencing.
Jason then asks Dr. Salerno about the Austrian True Money Supply or TMS, which is something Dr. Salerno invented with Murray Rothbard to to track monetary supply growth or inflation. Despite the mainstream financial media, Wall St, the Federal Reserve and academic Keynesians should about only deflation occurring right now, the TMS shows the money supply still growing at over 8%!
There’s now monthly articles on the Mises website tracking TMS growth or monetary inflation in the US https://mises.org/blog/true-money-sup…
Jason and Dr. Salerno also discuss if real deflation for a prolonged period of time will be allowed without further intervention, why Austrians are able to see asset bubbles and credit bubbles coming years in advance with an inevitable bust after a boom, and why capitalism and free markets will still be blamed for problems in the economy despite the fact there’s no free markets.
Many more exciting things are discussed in this excellent interview! If you love Austrian School of Economics or are curious about learning more about this school of thought and perspective, this is a great interview for that.