Show Notes
Freedom Frequency, an AI-powered podcast by Daily Dominance. tinyurl.com/dougsnewbook Today's episode: Mises' "Human Action" - The Foundation That Destroys All Statist Economics Ludwig von Mises wrote the most important economics book ever - "Human Action." This 900-page masterpiece provides the unshakeable foundation for anarcho-capitalist economics and destroys every statist argument. Mises created praxeology - the logic of human action. This makes economics a deductive science, not the statistical guesswork that mainstream economists peddle. Human action is purposeful behavior. People act to improve their situation. That's it. Everything else flows from this simple truth. Subjective value theory demolishes Marx's labor theory of value. Value doesn't come from labor or materials - it comes from individual human preferences. A diamond is valuable because people want it, not because it's hard to mine. This destroys the entire foundation of socialist economics. The economic calculation problem proves socialism always fails. Without market prices, you can't rationally allocate resources. Central planners are flying blind. They have no way to know what people actually want or what resources cost. This is why every socialist economy collapses. Methodological individualism means only individuals act. "Society" doesn't act. "The government" doesn't act. Only individual humans make choices. Collectivist thinking is a dangerous abstraction that leads to tyranny. Time preference explains interest rates. People prefer present goods to future goods. That's natural human psychology. Interest is the price of time. Government manipulation of interest rates distorts this natural process and creates boom-bust cycles. Mises proved central planning is impossible. Bureaucrats can never replace markets because they lack the price signals that coordinate economic activity. Every government intervention makes things worse by disrupting the natural order of voluntary exchange. Sound money principles show why inflation is theft. Money should be a stable store of value, not a tool for government manipulation. Gold worked for thousands of years because governments couldn't print it. Fiat currency is legalized counterfeiting. The Austrian business cycle theory explains recessions. Government creates artificial booms through credit expansion, then reality crashes in. The market is trying to correct government distortions, but politicians blame "market failure" and intervene more. Mises understood that economics is about human choice, not mathematical models. Humans aren't predictable machines. They're creative, purposeful actors pursuing their own goals. This makes central planning not just inefficient, but impossible. Every government program violates economic law. Price controls create shortages. Minimum wages create unemployment. Rent control creates housing shortages. These aren't accidents - they're inevitable consequences of interfering with market prices. The market process coordinates billions of individual decisions without any central authority. No planner could possibly process this information. The price system does it automatically through voluntary exchange. Mises proved that capitalism isn't just more efficient than socialism - socialism is literally impossible. Without market prices, rational economic calculation cannot exist. This destroys the intellectual foundation of every statist ideology. Human Action gives you the intellectual ammunition to destroy every economic fallacy. When someone claims markets fail, you know they don't understand how markets work. When they propose government solutions, you know they're ignoring economic law. This book is the foundation. Everything else in Austrian economics builds on Mises' insights. Read it, study it, use it. Because understanding human action is the key to understanding why anarcho-capitalism is the only rational economic system. If you enjoyed this episode, search for LLD Daily podcast on all major platforms for daily Liberland Dollar market analysis and blockchain nation updates. Freedom Frequency delivers daily doses of pure anarcho-capitalist truth. Subscribe for philosophical foundations that build voluntary society and expose the economic impossibility of statism.
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