I’m currently reading a history of money and banking in United States by Rothbard and I’m loving it. This is an awesome discussion; nice job Saif and Patrick!
03:19 📚 Rothbard's historical research challenges mainstream narratives and offers a unique perspective on American history, particularly focusing on the Progressive Era. 05:23 📝 Rothbard's writing style is straightforward, making complex topics accessible to both scholars and laymen. 09:35 💡 Rothbard's influence extends beyond economics, impacting historical research and political philosophy. 13:28 🖋 Rothbard's meticulous historical research involved deciphering handwritten manuscripts, contributing to volumes like "Conceived in Liberty." 17:46 🏛 Rothbard argued that the U.S. Constitution aimed to centralize power and promote cronyism, contrary to the notion of limiting government. 23:45 💡 The Constitution was designed to create a stronger government than the Articles of Confederation, as seen through the actions of Federalists like Alexander Hamilton. 25:37 📜 The limited government interpretation of the Constitution emerged strategically from the resistance of Anti-Federalists and Jeffersonian Republicans. 28:20 💭 Constitutionalism faces criticism due to its reliance on interpretation, which can lead to expanding government power despite the initial intentions. 30:36 🏛 Constitutional limitations on government power, especially at the state or local level, can be more effective than a centralized approach. 32:27 💰 Rothbard emphasizes the significance of monetary regulations in government growth and intervention, particularly in early American history. 41:12 📉 Rothbard's analysis challenges the misconception that pre-central bank America was chaotic, revealing significant government intervention in banking and monetary policies. 46:29 🔄 Misconceptions persist about the stability of pre-central bank America, highlighting the importance of revisiting historical narratives and understanding the role of government interventions. 47:23 🏦 Banking system in the 19th century relied on government bonds as reserves, leading to financial instability. 48:20 💸 Acceptance of bank notes for tax payments boosted trust in them, contributing to economic problems. 49:03 📉 Usury laws restricting high-interest rates led to the issuance of risky, low-interest loans, contributing to economic crises. 49:29 💰 US government's fixed exchange rate overvalued silver, leading to silver outflow and impacting the economy. 51:35 💵 During the Civil War, the US government issued greenbacks, creating an inflationary environment. 54:20 🏦 Creation of the national banking system during the Civil War laid the foundation for a quasi-central banking system. 01:04:09 💼 The period after the Civil War saw significant economic growth and innovation, challenging the notion of it being a depression. 01:10:05 📈 Rothbard challenges the notion that falling prices mean economic decline, highlighting instances where prices fell but output increased, signaling economic growth. 01:11:28 📉 Rothbard's research on the Panic of 1873 contradicts the idea of a prolonged depression, showing growth in the following years due to minimal government intervention. 01:12:37 💼 Understanding historical economic trends like the Gilded Age aids in comprehending present-day economic issues and challenges conventional views on government intervention. 01:13:48 📉 Falling prices due to increased goods supply should be viewed positively as a feature of market economies, contrary to prevalent fears of deflation. 01:14:57 💡 The tech industry's continual innovation and falling prices demonstrate the benefits of market competition and limited government intervention. 01:17:22 📚 Rothbard distinguishes between monopolies driven by market competition and those fostered by government intervention, shedding light on the dynamics of industrial growth in the late 19th century. 01:33:43 📚 Rothbard delves into granular political history, influenced by 1970s political science, providing fascinating insights despite being tangential to his main thesis. 01:34:49 💰 The Free Silver Movement, driven by populist Democrats like William Jennings Bryan, aimed at inflationary monetary policy, leading to the 1893 banking crisis and recession. 01:36:25 🏛 The Populist movement, driven by grievances against government regulations, advocated for greenbacks and the remonetization of silver, which influenced the political landscape of the late 19th century. 01:37:36 💰 The silver issue, tied to the Crime of 1873, prompted debates over monetary policies and led to concerns about the US moving to a silver standard, affecting its standing as a debtor nation. 01:39:43 🤝 JP Morgan's influence in securing McKinley's support for the gold standard highlights the intertwining of big business interests and political decisions during the late 19th century. 01:41:19 ⛏ The analogy between the silver issue and modern-day cryptocurrency dynamics highlights the role of economic incentives and vested interests in shaping monetary policies. 01:49:06 🎩 Teddy Roosevelt's presidency marked the beginning of the Progressive Era, characterized by increased executive power and government intervention in business affairs. 01:52:58 🔄 The Progressive Era saw a shift away from laissez-faire policies towards increased regulation and government intervention, setting the stage for subsequent economic and political developments. 01:56:54 🔍 Roosevelt's interpretation of the Sherman Antitrust Act expanded government power over businesses, setting precedent for modern regulatory agencies like the Federal Trade Commission. 01:57:51 🔄 Teddy Roosevelt's ascent to the presidency, due to a series of unfortunate events including the death of McKinley's first four vice presidential choices, raised suspicions about political machinations. 02:00:19 📜 Despite Roosevelt's association with JP Morgan, their relationship was nuanced, involving both support and tension, illustrating the complexity of historical alliances and rivalries. 02:01:15 💰 McKinley's death and Roosevelt's subsequent presidency set the stage for significant events like the establishment of the Federal Reserve, shaping the course of American history.
Rothbard and others knock on the state but what solution do they have to defending many small state or non-state territories from a larger more powerful (likely centralized) state? You might say, all the small states will agree to defend each other but the obvious outcome will be the other more distant states will look for reasons to not get involved in a conflict.
How did Liechtenstein and Switzerland survive World War II? How could Finland defend itself against the Soviet Union? How did Ethiopia defend itself against the Italian invasion? How did the Taliban or the Vietnamese kick American's asses? How did Cuba defend the Bay of Bigs? How did the partisans in Montenegro defeat the Italian occupation? What happened to Imperial Japan when they tried to become a regional hegemon? What happened to Imperial Germany or Nazi Germany when they were striving for regional hegemony? It's very difficult for an aggressor to hold territory if it doesn't have popular support. In today's world even smaller countries can inflict very high costs on an aggressor. Don't you know Sun Tzu, who said "Bitcoin fixes war"?
@@chefdenker704 idk....some of these cases you state were defenses from other large centralized states. But good points and things to consider. Im skeptical of complete fre market solving all problems. Maybe in time like 100s of years. Id like to hear more steelmanning and think its more effective to come to more accurate solutions
I'm reading this now. It's fascinating to see quotes from progressives, talking about ending capitalism for a new, "scientific" economy and then listening to current progressives who blame capitalism for our current problems.
The non realistic answer to resisting oppression is for all citizens to have accurate knowledge, interpret it the same, and work together to correct problems.
Saif says a monarchy may be bettter because of long term responsibility of the king vs the short term president+congress of usa. But look at the many long term politicians and their families....they do create a long term vision. The problem is (monarchy or representative gov) that majority of citizens dont understand the systems of control nor is there a good and effective way for citizens to claim their soverignty. And if they do.....do they create an effective defense from other powerful entities
