Sometimes duty calls and you’re forced to go to The Bahamas and discuss the problems with financial sector “rescues” by the Fed and Treasury. When I was a guest of The Nassau Institute last summer, they arranged for me to be a guest on a popular TV show. The YouTubes are finally ready; Part 1 is here and if you scroll down on the Related Videos you can find the subsequent parts. Incidentally, The Nassau Institute is very pro-Austrian; they have posters of Menger and other greats hanging on the walls.
Source link: http://archive.mises.org/11321/murphy-defends-free-markets-in-the-bahamas/
Murphy Defends Free Markets in The Bahamas
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Great discussion. While listening, it occurred to me, that they always seem to bring up the same arguments. Basically you could generate a card game, with one argument on each card and some of them can be played against each other.
For example you have the argument that there should be a central bank to set interest rates, otherwise there would be “free for all and usury in the banking system”. Of course you can argue against that “you don’t want the government setting the price of bread etc. why would you want it to set interest rates, the free market is perfectly capable of setting reasonable interest rates”.
Maybe a card game isn’t the appropriate format, my point is, that this entire debate might have been automated.
Kudos to Bob for being able to sit through this. Listening to these two clueless fellows.
I would have probably walked off the set 15 minutes in and looked for the nearest bar.
I concur Dixie, and hope that these two interviewers are not an accurate representation of Bahamas. Arguments such as “banks are paying back” etc. are just hilarious.
I spoke too soon. Last 10 minutes of it were just awful, poor Bob.
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