Archive for Mark Thornton

All Videos from ‘Inflation: Causes, Consequences, and Cure’

From the April 11 Seminar: Inflation: Causes, Consequences, and Cure. A seminar for High School and College Students

(Six Videos)

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Video: ‘What is Money?’ with Mark Thornton

Presented at “Inflation: Causes, Consequences, and Cure”: a free seminar for high school and college students. Hosted at the Mises Institute in Auburn, Alabama, on 11 April 2014.

Audio: Thornton Explains the Crack-Up Boom

Interviewed by host Alan Butler, Mark Thornton explains why the Crack-Up Boom phase of a fiat money collapse is one of the scariest economic phenomena in human history.

Listen here. 

Audio: The Economy, the End of Prohibition, and the Articles of Confederation

Interviewed by host Alan Butler, Mark Thornton discusses the current economic situation, the end of Prohibition, the Articles of Confederation, and several other interesting topics.

Thornton: What’s the Deal With Dope?

(It’s a video of a video, but the audio is very clear.) Hosted by the Loyola University Society for Civic Engagement on 27 March 2014, Mark Thornton appeared as a panelist (via Skype) to discuss some of the intended and unintended consequences of legalizing marijuana.

Thornton provides an excellent summary of the early years of cannabis prohibition (hint: no one but the government seemed to want prohibition) plus a discussion of the many negative effects of prohibition.

Why We Should Sell Alcohol at College Football Games

6715Mark Thornton writes in the weekend’s Mises Daily:

This prohibition has two main effects. The first is that lots of people consume much more alcohol before they enter the stadium than they would under normal circumstances. The second is that people will sneak alcohol into the stadium, usually in a plastic flask.

What does this tell us? First, that many ticket holders are already inebriated as they enter the stadium to find their seats. So when everyone is quickly shuffling about, anxious to find their seats, get to the concession stands, and find the nearest bathroom, uncountable accidents, small and large, occur.

Second, fans resort to criminal behavior in a similar fashion to the bootlegger, the rumrunner, and the blockade runner. If caught smuggling they also face penalties and loss of their product. In order to lessen the risk of being caught, the determined fan resorts to making the product as small as possible and easy to conceal, thus the aforementioned plastic flask.

Barron on the Ricardo Effect

Mark Thornton writes:

Patrick Barron on Redmond Weissenberger’s podcast Better Red than Dead, on The Ricardo Effect.  Like Say’s Law, it’s another piece of classical economics that is under-appreciated by modern Austrians.  Barron also makes the point that I had not heard before that there is a perverse Ricardo effect put into play by government intervention.

Audio: Mark Thornton Examines the History of U.S. Central Banks

Interviewed by host Alan Butler, Mark Thornton discusses the first three central banks in the United States.

How the Drug War Failed Philip Seymour Hoffman

6694Mark Thornton writes in today’s Mises Daily:

While the drug war forces addicts and casual users to rely on unlabeled, black market (and possibly tampered-with) products for their fix, would drug users in a free market turn to such dangerous products? It’s unlikely. We do know that in the face of prohibition, many users turn to using alcohol and prescription drugs for off-label recreational uses that can cause harm that is similar or even worse than those caused by prohibited drugs.

There is simply no evidence that prohibition generates any socially desirable benefits, but there is ample evidence of its costs and destruction.

Audio: Mark Thornton On Chicago vs. Austrian Healthcare and Mises Global

Mark Thornton talks with Redmond Weissenberger about healthcare and more.