Lew Rockwell, founder and Chairman of the Ludwig von Mises Institute, discusses how central banks print fiat money to pay for world wars that would otherwise be impossible to finance, the enormous resources at the U.S. government’s disposal to delay an economic reckoning, why WalMart is a net gain to society, the division between those who live off the state and those who support it (albeit unwillingly) and why more super-rich dynastic families are needed to compete for power with the state.
MP3 here. (43:20)
Lew Rockwell is the founder and Chairman of the Ludwig von Mises Institute in Auburn, Alabama, Vice President of the Center for Libertarian Studies in Burlingame, California, and publisher of the political Web site LewRockwell.com. He is the author of The Left, The Right and The State and served as Ron Paul’s congressional chief of staff between 1978 and 1982. Check out his podcast show here.