The Human Action Podcast The Intra-Austrian Debate over Milei and the Central Bank
Dec 8, 2025
The podcast dives into the heated debate over Argentina's President Milei and Hoppe's critique on his failure to swiftly close the central bank. Discussion branches into Hülsmann and Bagus's clash about dollarization vs. peso stability. Mises's classifications of money types are explored, including commodity and credit distinctions. The complexities of Argentina’s short-term central bank debt and the implications of ongoing inflation under Milei are also dissected. Ultimately, the conversation reveals the tension between immediate fiscal reforms and gradual economic adjustments.
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Shutting The Central Bank Stops Inflation
- Hans Hoppe and Guido Hülsmann argue shutting a central bank stops inflation quickly by stopping money issuance.
- Bob Murphy agrees with their stance but warns context matters for practical execution.
Milei's Case For An Ordered Peso Phase-Out
- Javier Milei argues a gradual transition is needed to redeem and remove pesos so holders are not suddenly wiped out.
- He claims peso value must go to zero eventually and a managed exchange to dollars avoids abrupt crashes.
Halt Money Issuance To Stop Price Inflation
- Do stop issuing an inflationary currency if your goal is to halt rising consumer prices.
- Do consider moving central-bank functions to other state institutions rather than assuming currency use must change instantly.
