The "What is Money?" Show Sound Money vs the State: How Inflation Fuels Corruption w/ Tom DiLorenzo (WiM567)
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Apr 1, 2025 Tom DiLorenzo, president of the Mises Institute, is a prominent voice in Austrian economics. In this engaging discussion, he explores how inflation fuels corruption and the moral dangers intertwined with government currency monopolies. DiLorenzo critiques academia's echo chamber and the demonization of capitalism, linking historical conflicts to monetary policies. He argues that sound money, like Bitcoin, can empower individuals against political corruption while emphasizing the need for economic education in a world shaped by distorted financial narratives.
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Tom DiLorenzo's Path to Austrian Economics
- Tom DiLorenzo's economics interest began in college, sparked by free-market thinkers like Mises.
- A Chicago school professor further guided him, leading him to graduate school where he studied under Nobel laureate James Buchanan.
Academic Gatekeeping
- Academic gatekeepers, often journal editors, suppress dissenting views to protect established viewpoints and their careers.
- DiLorenzo's antitrust article challenging a Nobel laureate was rejected for this reason.
Money Printing and Corruption
- Central banking, by controlling money, enables the funding of organizations that promote inflation and its justifications.
- This creates a vicious cycle of theft and propaganda, hindering true economic understanding.