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Thomas E. Woods, Jr.



Articles by Thomas E. Woods, Jr.

The Covid Cult

November 7, 2020

This is the greatest public health fiasco in the history of the world, and the media has distorted it so badly, that much of the general public is celebrating villains and hissing at heroes. And, even — perversely enough — celebrating the destruction of their own lives and their children’s lives. Presented at the Symposium with …

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The Seen and the Unseen of Covid-19

October 28, 2020

[From the 2020 Supporters Summit, presented at the historic Jekyll Island Club Resort on Jekyll Island, Georgia, on October 9, 2020. Read and see the full lecture.]  This is the intellectual level of the conversation [around covid-19]: You just want people do die. How do you talk to somebody like that? So, in order to do that, …

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The Misplaced Fear of “Monopoly”

August 18, 2020

The political entrepreneur succeeds by using the implicit violence of government to cripple his competitors and harm consumers. The market entrepreneur, on the other hand, makes his fortune by providing consumers with products they need at prices they can afford. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original …

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The Misplaced Fear of “Monopoly”

August 11, 2020

Those of us who get drawn, often against our better judgment, into Internet debates soon discover that the case against the market economy in the popular mind boils down to a few major claims. Here I intend to dissect one of them: under the unhampered market we’d be at the mercy of vicious monopolists. This …

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Mises and Destructionism

October 28, 2019

Includes an introduction by Jeff Deist. Ludwig von Mises and his work remain incredibly prescient and relevant today. The world needs his voice more than ever, and our speakers celebrate Mises as a supremely vital thinker well-suited for today’s challenges. Recorded in Los Angeles, California, on October 26, 2019.

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The Libertarian Face of New Media

October 23, 2018

JEFF DEIST: Tom, you grew up in Boston. Your dad was a blue collar guy and also a Teamster. So, tell us a little bit about him and your childhood. TOM WOODS: He was a Teamster for 18 years, and worked as a forklift operator in a food warehouse for a grocery chain that no …

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What Austrian Economics Can Teach Historians

October 6, 2018

Volume 11, No. 3 (2008) Abstract: Austrian economics is a valuable resource for historians. Scholars informed by Austrian insights can make better sense of historical phenomena, and can provide far better insight into economics history, than those who lack this background. It is impossible to understand events such as the Great Depression with the assistance …

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When Mainstream Economics Was Wrong, Mark Thornton Was Right

September 4, 2018

Reprinted from Mises.org
[Foreword to Mark Thornton’s new book The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century (Auburn, AL: Mises Institute, 2018).]
In the wake of the financial crisis of 2008, the economics profession suffered a blow to what reputation it had. But unlike most of his colleagues, Mark Thornton was vindicated by 2008. Mark has been a voice of sanity at times when the wild interventions of the Federal Reserve have caused otherwise sensible people to lose their minds.
One rule of thumb I’ve adopted is: whenever the idea that the business cycle may have been tamed forever starts to become mainstream, the bust is around the corner.
After reading this book, you’ll see why. Mark discusses the very different records of

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When Mainstream Economics Was Wrong, Mark Thornton Was Right

August 12, 2018

[Foreword to Mark Thornton’s new book The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century (Auburn, AL: Mises Institute, 2018).] In the wake of the financial crisis of 2008, the economics profession suffered a blow to what reputation it had. But unlike most of his colleagues, Mark Thornton …

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The Free-Market Economics of the Late Scholastics

June 7, 2018

Https://mises.org/library/free-market-economics-late-scholastics
Since the mid-20th century, historians of economic thought have directed more and more attention to the contributions and influence of the Late Scholastics — Catholic theologians, often Spanish, of the 16th and 17th centuries. In his History of Economic Analysis (1954), Joseph Schumpeter paid special tribute to the importance of the Late Scholastics. “It is they,” he wrote, “who come nearer than does any other group to having been the ‘founders’ of scientific economics.”
Raymond de Roover expanded on Schumpeter’s observation, writing a series of pathbreaking articles for academic journals on the subject of these neglected figures. De Roover punctured substantial holes in the received view of late-medieval and early-modern

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How the White House Hijacked the Ability to Declare War

May 14, 2018

Originally published July 7, 2005 on ​LewRockwell.com. Reprinted from Mises.org
We are long past the point at which constitutional arguments have much hope of restraining the American political class, either at home or abroad. They are still worth making, though, since they serve to show the two major parties’ contempt for American law and tradition.
Ever since the Korean War, Article II, Section 2 of the Constitution — which refers to the president as the “Commander in Chief of the Army and Navy of the United States” — has been interpreted to mean that the president may act with an essentially free hand in foreign affairs, or at the very least that he may send men into battle without consulting Congress. But what the framers meant by that clause was that once war has been declared, it was

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The War Powers Resolution Fraud

April 11, 2018

Originally published February 4, 2006 on LewRockwell.com
In the wake of the Vietnam War Congress passed the War Powers Resolution of 1973. As the history books would have it, Congress thereby restrained presidential war powers and reasserted traditional congressional prerogatives in foreign policy as envisioned by the Constitution.
Not so. Not even close to being so.
Congress did pass the War Powers Resolution, to be sure. But if anything, the Resolution — sympathetic mythology to the contrary notwithstanding — actually emboldened the president and codified executive warmaking powers that would have astonished the framers of the Constitution.
I have explained the intentions of the framers with regard to war powers here. Suffice it to say that the framers resolutely opposed placing

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Cobden on Freedom, Peace, and Trade

January 29, 2018

Originally published in 2003 as “Cobden on Freedom, Peace, and Trade,” a prize-winning essay in the Independent Institute’s Olive W. Garvey Fellowship contest.] Reprinted from Mises.org

Every student of political economy knows that Adam Smith dealt mercantilist economic ideas a profound intellectual defeat in The Wealth of Nations (1776). The mercantilist had viewed economic interaction as a zero-sum game — that is, the benefit of one party had to come at the expense of the other. Sound economic policy, therefore, involved encouraging a favorable balance of trade (an excess of exports over imports), the acquisition of colonies, and the construction of a powerful navy to secure and maintain access to far-flung markets.
Once Adam Smith and the classical economists had overthrown the

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The Anti-Imperialist League and the Battle Against Empire

January 18, 2018

An earlier version of this essay was delivered on October 28, 2006. Reprinted from Mises.org
In April 1898 the United States went to war with Spain for the stated purpose of liberating Cuba from Spanish control. Several months later, when the war had ended, Cuba had been transformed into an American protectorate, and Puerto Rico, Guam, and the Philippines had become American possessions.
When the US government decided not to grant independence to the Philippines, Filipino rebels led by Emilio Aguinaldo determined to resist American occupying forces. The result was a brutal guerrilla war that stretched on for years. Some 200,000 Filipinos lost their lives, either directly from the fighting or as a result of a cholera epidemic traceable to the war.
That American forces were engaged in a

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Tom Woods: What I Learned from Murray Rothbard

August 11, 2017

5 hours agoThomas E. Woods, Jr.This week’s episode features Tom Woods’ opening lecture at Mises University 2017. Tom shares his experiences meeting Murray Rothbard, how Murray shaped Tom’s intellectual development, plus some valuable lessons for us all.

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Tom Woods: What I Learned from Murray Rothbard

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Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.

When commenting, please post a concise, civil, and informative comment. Full comment policy here.

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What I Learned from Murray Rothbard

July 23, 2017

4 hours agoThomas E. Woods, Jr.Watch the opening lecture of Mises University 2017 LIVE! Includes a welcome by Jeff Deist and faculty introductions by Joseph T. Salerno.Mises Insitute members can attend Virtual Mises University for free.Mises University is the world’s leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

What I Learned from Murray Rothbard | Thomas E. Woods, Jr.

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Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.

When commenting,

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Mises’s Vision of the Free Society

July 20, 2017

[Foreword to Liberalism by Ludwig von Mises] Reprinted from Mises.org

Any political philosophy must address itself to a central question: under what conditions is the initiation of violence to be considered legitimate? One philosophy may endorse such violence on behalf of the interests of a majority racial group, as with the National Socialists of Germany. Another may endorse it on behalf of a particular economic class, as with the Bolsheviks of Soviet Russia. Still another may prefer to avoid a doctrinaire position one way or another, leaving it to the good judgment of those who administer the state to decide when the common good demands the initiation of violence and when it does not. This is the stance of the social democracies.
The liberal sets a very high threshold for the

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The Jefferson Nobody Knows

April 26, 2017

The Jefferson Nobody Knows

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U.S. HistoryPolitical Theory6 hours agoThomas E. Woods, Jr.Following up on his successful and highly regarded James Madison and the Making of America (St. Martin’s, 2012), Kevin Gutzman has returned with a fresh look at Jefferson in Thomas Jefferson, Revolutionary: A Radical’s Struggle to Remake America. It could well have been called The Jefferson Nobody Knows.Jefferson, Gutzman reminds us, had such a fertile mind that he would devote himself to the study of a subject and become the leading figure of his day in that area. Architecture may be the most obvious example — at the time of the bicentennial, the American Institute of Architects declared Jefferson’s work on the University of Virginia to be America’s outstanding architectural achievement. But he was also learned in numerous other fields, including ethnography and ethnohistory, and in fact he carried out the first archaeological excavation in North America.Thankfully, Gutzman has not given us another conventional Jefferson biography, complete with soporific discussions of the man’s relationships with his family members and other antiquarian trivia. Chances are, Gutzman has said, the average person who’s curious about Jefferson is unlikely to read more than 300 pages about him over the course of a lifetime.

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The Free-Market Economics of the Late Scholastics

March 2, 2017

[This review originally appeared in the Journal of Libertarian Studies, 19.4 (Fall 2005), pp. 97–101. Reprinted from Mises.org]
Since the mid-20th century, historians of economic thought have directed more and more attention to the contributions and influence of the Late Scholastics — Catholic theologians, often Spanish, of the 16th and 17th centuries. In his History of Economic Analysis (1954), Joseph Schumpeter paid special tribute to the importance of the Late Scholastics. “It is they,” he wrote, “who come nearer than does any other group to having been the ‘founders’ of scientific economics.”
Raymond de Roover expanded on Schumpeter’s observation, writing a series of pathbreaking articles for academic journals on the subject of these neglected figures. De Roover punctured substantial holes in the received view of late-medieval and early-modern economic thought, particularly when it came to the subject of the just price. Prior to de Roover’s work, the Scholastic conception of the “just price” had been grotesquely misinterpreted; the Scholastics were said to have believed that certain objective criteria could help determine a good’s “just price.” To the contrary, de Roover showed, for the Scholastics the just price was the market price, the price arrived at by the interaction of buyers and sellers on the market.

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How I Found Freedom in an Unfree World

February 27, 2017

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Strategy4 hours agoThomas E. Woods, Jr.Recorded at the Mises Institute’s Strategies for Liberty event in San Diego, California, on 25 February 2017. Includes an introduction by Jeff Deist.

Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.When commenting, please post a concise, civil, and informative comment. Full comment policy here.

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That Male-Female Wage Gap

February 4, 2017

You’ve heard about the “gender wage gap.”
That fable goes like this: since women in the aggregate earn only 79% of what men earn in the aggregate, women “earn 79% of what men earn for doing the same work.”
You get extra points for brain-wave activity if you asked: “Wait, how did ‘for doing the same work’ get added onto that?”
I’ll get to that in a minute.
The automobile manufacturer Audi just released an ad for virtue-signaling purposes to let us all know how outraged they are that women suffer from a 21% pay gap.
Right now the ratio of thumbs down to thumbs up for the ad on YouTube is running at 12 to 1, so not everyone in the world is brain dead.
So is there anything to the “pay gap” claim?
Myths, Misunderstandings and Outright lies about owning Gold. Are

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Trump, Cabinet, Russia

December 28, 2016

Libertarian titan Lew Rockwell joins me to discuss some names in the Trump cabinet, the alleged “Russian hacking,” and the overall creepiness of the American ruling class.
Listen to the podcast
For audio of the previous debates go to TomWoods.com.
Why are the most advertised Gold and Silver coins NOT the best way to invest?
Satanic Opening Ceremony of the Goddard Tunnel in Switzerland.

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The Good News They’re Not Telling You

December 9, 2016

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The EntrepreneurFree MarketsEntrepreneurshipAs we look at things that impress us technologically we also have a certain trepidation, because we’re told that robots are going to take our jobs. “Yes, the internet is wonderful,” we may say, “but robots, I don’t want those.”I don’t mean to make light of this because robots are going to take a lot of jobs. They’re going to take a lot of blue collar jobs, and they’re going to take a lot of white collar jobs you don’t think they can take. Already there are robots that can dispense pills at pharmacies. That’s being done in California. They have not made one mistake. You can’t say that about human pharmacists, who are now free to be up front talking to you while the robot fills the prescription.Much of this is discussed by author Kevin Kelly in his new book The Inevitable, with the subtitle Understanding the 12 Technological Forces that Will Shape Our Future. It’s incredible what robots can do and what they will be able to do.Automation Really Is Taking Our JobsTo me, just the fact that one of Google’s newest computers can caption a photo perfectly — it can figure out what’s happening in the photo and give a perfect caption — is amazing. Just when you think “a machine can’t do my job,” maybe it can.What kind of world is this we’re moving into? I understand the fear about that.

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What’s Up With Trump?

November 18, 2016

Lew Rockwell returns to the show to discuss the election of Trump, the left’s reaction, early indications of where he might go, and dangers to watch out for.
Listen to the podcast
For audio of the previous debates go to TomWoods.com.

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The Best of Thomas E. Woods Jr.

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The Final Woods-Rockwell Debate Analysis

October 20, 2016

Donald Trump and Hillary Clinton faced off in the last presidential debate of this election season, and Lew Rockwell and Tom are here with the most sought-after analysis in the libertarian world!
Listen to the podcast
For audio of the previous debates go to TomWoods.com.

The Best of Thomas E. Woods Jr.

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