Ep. 2675 Murray Sabrin on Navigating a Rigged Financial System

Murray Rothbard's "The Panic of 1819" offers a detailed analysis of the financial crisis of 1819, examining its causes, consequences, and the policy responses of the time. Rothbard applies Austrian economic principles to understand the role of credit expansion, land speculation, and government intervention in triggering the crisis. The book provides a historical case study to illustrate the boom-bust cycle and the dangers of unsound monetary policies. It's a valuable resource for understanding the cyclical nature of economic crises and the importance of sound money. Rothbard's work remains influential in shaping the Austrian school's perspective on economic fluctuations.

The Great Deformation is a detailed critique of the corruption of capitalism in America. David Stockman argues that the country's economic policies have been hijacked by crony capitalist forces, leading to fiscal cliffs, speculative finance, and the enrichment of a few at the expense of the many. The book traces the historical roots of these issues, from Franklin Roosevelt's New Deal to the policies of recent administrations, including those of George W. Bush and Barack Obama. Stockman also highlights the role of the Federal Reserve and key figures like Alan Greenspan and Ben Bernanke in fostering bubble finance and debt addiction. The book contrasts these with statesmen who championed sound fiscal policies and free market discipline.