Archive for Mark Thornton

Gold, Silver, and the Future of the Dollar

6822Mises Daily Weekend by Mark Thornton:

In this interview, Mark Thornton discusses the future of the US dollar as the world’s reserve currency and how both gold and silver and can be part of a return to sound money.

Mark Thornton on the Scott Horton Show

Mark Thornton discusses his article “How the Drug War Drives Child Migrants to the US Border.”

Audio file, 22 minutes.

Mark Thornton on GDP and the Present ‘Recovery’

Beginning at 2:20:00, Mark Thornton talks with Butler on Business host Alan Butler last week about current economy trends and business cycles.

Germany Reneges on Request for its Gold

7361342500_a62d22db19_zGermany has now decided that its gold is safe in the hands of the Federal Reserve after all. The budget spokesman for Angela Merkel’s Christian Democratic Union party, Norbert Barthle, said “The Americans are taking good care of our gold.” Germany initially made the request in January of 2013 after attempts to inventory the gold in 2012 were rebuffed. Juergen Hardt, also from the Christian Democratic Union party told reporters in May that there was no concern that German gold in the New York Fed has been tampered with. “It’s my view that the gold reserves should be stored wherever they might be needed in an emergency.” Of course Germany has never seen or possessed its gold. It obtained the gold in exchange for its surplus dollars in international trade prior to the breakdown of the Bretton Woods system. So I guess there really is no cause for concern.

Mises Weekends: Jeff Deist Talks With Mark Thornton About Wikipedia, Drug Prohibition, and More

Jeff Deist and Mark Thornton discuss Mark’s recent experience as an opponent of the drug war at the Oxford Union debating society, his influence on Wikipedia founder Jimmy Wales, and how Wikipedia demonstrates a kind of stateless spontaneous order, complete with private dispute resolution.

Stitcher: http://www.stitcher.com/podcast/mises-institute/mises-weekends
Mises.org: http://mises.org/media/8590/Dr-Mark-Thornton-Wikipedia-and-Spontaneous-Order

How Smugglers Made America

6778Mises Daily Thursday by Mark Thornton:

Smuggling in America has been around since colonial days and will continue into the foreseeable future. It has played a very prominent role, rather than a subsidiary one, through our history. Indeed it has often played a pivotal role in important events and episodes in American history.

 

Video: Mark Thornton Explains the Skyscraper Curse

Mark Thornton presents a one-minute primer on the “Skyscraper Curse.”

The New Skyscraper Curse

6764Mark Thornton writes in today’s Mises Daily:

The confluence of regional skyscraper signals in Europe, North America, and China along with a skyscraper alert for a world economic crisis clearly suggests the possibility of a looming world economic crisis. This pattern would be very much like previous episodes of skyscraper records including the Panic of 1907, the Great Depression, the stagflation of the 1970s, the dot-com bubble, and the housing bubble. In line with these skyscraper-based predictions, a fundamental case can be built around the notion of a looming world economic crisis. Most of the world’s major economies are facing pressing economic difficulties, including the U.S., Europe, Japan, and China. Additionally, central banks have been engaged in a world currency war on a scale that has never been experienced in human history.

Audio: Mark Thornton Explains Nazi Gun Control

Interviewed by host Alan Butler, Mark Thornton discusses gun control in the early days of Nazi Germany.

Audio: The Drug War, ZIRP, Jobs, and More

Interviewed by host Alan Butler, Mark Thornton discusses the failed War on Drugs, and the current state of the U.S. economy.

How Central Banks Are Waging War on Your Savings

6757Mark Thornton writes in today’s Mises Daily: 

He sees the problem as insufficient aggregate demand. Wolf considers the pre-2007 unsustainable credit boom a temporary fix, rather than the cause of the crisis brought about by central banks. His argument is that low interest rates and quantitative easing policy has been an insufficient policy response. His preferred solution is some type of massive public works program financed by government deficits. However, he believes that governments will refuse to borrow in order to build “productive assets.”

This is classic Keynesian logic: solve the problems of debt and monetary expansion by engaging in more debt and monetary expansion. With governments reluctant to expand spending further he concludes that we are stuck with the second-best solution of a cheap money policy consisting of ultra low interest rates and quantitative easing. Besides, he notes, the “cautious rentier no longer serves a useful purpose.”

The Fed and the 1%: Mark Thornton on the Tom Woods Show

site_headerInterviewed by host Tom Woods, Mark Thornton discusses a recent article in the Financial Times, and why its recommendations for Fed policy will benefit the wealthiest at the expense of everyone else.

Mp3, 25 minutes.

 

Mark Thornton Explains “The Consequences of Cheap Money”

Mark Thornton discusses Martin Wolf’s recent claim that “cautious savers no longer serve a useful economic purpose.”

Audio: Mark Thornton Explains Easy Money Policy

Mark Thornton discusses Martin Wolf’s support for continued easy money policy, and also the latest push by the central bankers and their friends in the media to try to convince us that rising prices are good for us.

Audio: Mark Thornton Discusses Gun Control

Mark Thornton discussed  gun control under the Nazis on Freedom Works Radio yesterday. (17 minutes.)

Another Student Remembers Gary Becker

beckerDr. Tracy Miller, an economist at Grove City College was a graduate student of Gary Becker at the University of Chicago. Dr. Miller provides a sketch of Becker’s contributions as well as some personal reminiscences of Becker as a professor:

Unlike some other professors I had in graduate school, I never recall Becker using offensive language in the classroom or in private conversation. Although he never said anything to indicate that he was a Christian, some of his students did research on the economics of religion and he appreciated their work and respected their convictions.

I had great respect for Dr. Becker as a teacher and scholar. In the classroom, he would frequently pick a student and call on him to answer a challenging question. The questions he asked often required the student to apply theory in a new way, not just recall something from the reading. His approach was intense and intimidating, but his former students appreciate the way he challenged them.

His passion for applying economics to a wide variety of contemporary issues was contagious. He influenced hundreds of graduate students at the University of Chicago and took a continuing interest in the work of his former students.

- See more at: http://www.visionandvalues.org/2014/05/remembering-gary-becker-a-great-economist/#sthash.WJuLXbSO.dpuf

Video: Mark Thornton Discusses the Unemployment Rate

Mark Thornton explains why the government’s latest unemployment numbers are a sham, and the labor market is nowhere near recovered.

Mark Thornton on ‘Butler on Business’ This Week

Mark Thornton discusses the latest data and the current state of the economy, plus what’s in store from the Fed. Dr. Thornton’s portion of the show begins at the 2-hour mark.

Mises View Video: “Inequality and Capital”

Mark Thornton critiques Thomas Piketty’s recent bestseller, and explains why capitalism is not the problem, nor are taxation and redistribution of wealth the solutions.

Our American Oligarchy

Interviewed by host Paul Molloy, Mark Thornton discusses the Constitution, the Articles of Confederation, and Ryan McMaken’s recent article: “Our Oligarchs Can Thank James Madison”