Larry White - What Is Free Banking?

Alex speaks with Neera Badhwar about her forthcoming paper, “There are Divinities in Liberal Market Societies Too,” exploring how liberal societies enable prosperity, intellectual virtue, and moral growth. Neera discusses key concepts like happiness and flourishing, critiques thinkers like Gerry Cohen, and reflects on the role of free markets and limited government in fostering human well-being. References "There are Divinities in Liberal Market Societies Too" by Neera Badhwar (forthcoming in Social Philosophy and Policy, 2025) https://www.cambridge.org/core/journals/social-philosophy-and-policy "The Theory of Moral Sentiments" by Adam Smith https://www.amazon.ca/Theory-Moral-Sentiments-Adam-Smith/dp/0865970122 "If You're an Egalitarian, How Come You're So Rich?" by Gerry Cohen https://a.co/d/6NyLaC2 "The Case Against Education: Why the Education System Is a Waste of Time and Money" by Bryan Caplan https://www.amazon.ca/Case-Against-Education-System-Money/dp/0691174652 World Values Survey https://www.worldvaluessurvey.org/ World Happiness Report https://worldhappiness.report/ Human Progress Newsletter https://humanprogress.org/ Thanks to our patrons, including Kris Rondolo, Amy Willis, and Christopher McDonald. To support the podcast, visit https://patreon.com/curioustask.

Today, we're revisiting this special Christmas episode of The Curious Task from 2019. ---  Alex Aragona chats with Alex Tabarrok on this very special Christmas episode of The Curious Task as he explores whether gift giving is inefficient, and if there are better ways to give to others. References from Episode 21 with Alex Tabbarok You can watch a video of Alex Tabbarok and Tyler Cowen discuss gift giving here Giving to my Wild Self article can be found here

Alex speaks with Sabine El-Chidiac about the Liquor Control Board of Ontario (LCBO), exploring its historical context, operational inefficiencies, and the potential for reforming its structure. Sabine draws on her co-authored report to outline economic benefits and practical reforms, while also critiquing the LCBO's moral and historical failings. The conversation highlights broader themes of government overreach, consumer choice, and economic modernization. References Sabine's article in the Spec entitled "The LCBO is an archaic system with an ugly history": https://www.thespec.com/opinion/contributors/the-lcbo-is-an-archaic-system-with-an-ugly-history/article_4d18e1c1-2080-5c7d-be29-7ff72e3bba60.html?utm_medium=social&utm_source=copy-link&utm_campaign=user-share  "Modernizing Ontario’s Alcohol Retail System" by Sabine El-Chidiac and David Clement https://consumerchoicecenter.org/wp-content/uploads/2024/10/Modernize_Ontario_Report.pdf "Alcohol: No Ordinary Commodity" by Thomas Babor et al. https://global.oup.com/academic/product/alcohol-no-ordinary-commodity-9780199551149 LCBO Historical Documents https://www.archives.gov.on.ca/en/index.aspx "Alcohol: Science, Policy and Public Health" by Peter Boyle et al. https://a.co/d/eoBTcI9 Ontario Cannabis Store (OCS) Wholesale Model https://ocs.ca/ "Free to Choose: A Personal Statement" by Milton Friedman and Rose Friedman https://www.amazon.ca/Free-Choose-Personal-Statement-Milton/dp/0156334607  Alberta Gaming, Liquor, and Cannabis (AGLC) Model https://aglc.ca/ Thanks to our patrons, including Kris Rondolo, Amy Willis, and Christopher McDonald. To support the podcast, visit patreon.com/curioustask.

Alex speaks with Danny Leroy about inflation in Canada, with a focus on the rising price of groceries. Danny explains how monetary expansion and government policies have driven up grocery prices and other costs, emphasizing the role of the Bank of Canada in creating money and the cascading effects this has on different sectors of the economy. Danny and Alex then discuss potential policy changes to address rising costs and improve the purchasing power of Canadians. References Danny Leroy's Publications Link: https://scholar.ulethbridge.ca/dannyleroy/publications  "The Constitution of Liberty" by Friedrich Hayek Link: https://www.amazon.ca/Constitution-Liberty-Friedrich-Hayek/dp/0226320847  Milton Friedman on Greed (Donahue Show, 1979) Link: https://www.youtube.com/watch?v=RWsx1X8PV_A Statistics Canada Data on Grocery Prices Link: https://www.statcan.gc.ca/en/topics-start/food-price  "Prices and Production" by Friedrich Hayek Link: https://a.co/d/igCpqFX  Austrian Economics and the Boom-Bust Cycle Link: https://yipinstitute.org/article/boom-or-bust-the-austrian-theory-of-the-business-cycle  "The Road to Serfdom" by Friedrich Hayek Link: https://www.amazon.ca/Road-Serfdom-Friedrich-Hayek/dp/0226320553 Thanks to our patrons including: Amy Willis, Kris Rondolo, and Christopher McDonald. To become a patron, go to patreon.com/curioustask

Matt speaks with Brian Albrecht about how policymakers can think more like economists by emphasizing the role of prices, trade-offs, and unintended consequences in shaping effective policies. Brian and Matt discuss tax policies, antitrust laws, and some very silly tariffs to illustrate the importance of applying economic reasoning to address societal challenges while minimizing inefficiencies. References Brian Albrecht's Substack, Economic Forces Link: https://substack.com/@briancalbrecht  "Rebellion, Rascals, and Revenue: Tax Follies and Wisdom Through the Ages" by Michael Keen and Joel Slemrod Link: https://a.co/d/94DlEoq  "The Constitution of Liberty" by Friedrich Hayek Link: https://www.amazon.ca/Constitution-Liberty-Friedrich-Hayek/dp/0226320847 "The Theory of Moral Sentiments" by Adam Smith Link: https://www.amazon.ca/Theory-Moral-Sentiments-Adam-Smith/dp/0143105922 "Basic Economics: A Common Sense Guide to the Economy" by Thomas Sowell Link: https://www.amazon.ca/Basic-Economics-Common-Sense-Guide/dp/0465060730  "Antitrust Paradox: A Policy at War with Itself" by Robert H. Bork Link: https://www.amazon.ca/Antitrust-Paradox-Policy-Consumer-Welfare/dp/0029044561  

Alex speaks with Matt Zwolinski about whether a truly "free market" exists, delving into concepts of freedom, coercion, and property rights. They examine critiques of markets from left-leaning thinkers, such as Robert Hale, as well as conservative perspectives, while discussing libertarian approaches to balancing coercion and freedom in market societies. Zwolinski also references his own Substack essays and reflects on ideas for minimizing coercion without dismissing critiques. References Matt Zwolinski's Substack, Bleeding Heart Libertarian Link: https://bleedingheartlibertarian.substack.com/ "Coercion and Distribution in a Supposedly Non-Coercive State" by Robert Hale (1923) Link:https://www.jstor.org/stable/2142367 "The Constitution of Liberty" by Friedrich Hayek Link: https://www.amazon.ca/Constitution-Liberty-Friedrich-Hayek/dp/0226320847 "23 Things They Don’t Tell You About Capitalism" by Ha-Joon Chang Link: https://www.amazon.ca/23-Things-Dont-Tell-Capitalism/dp/1608191664 "The Myth of Ownership: Taxes and Justice" by Liam Murphy and Thomas Nagel Link: https://www.amazon.ca/Myth-Ownership-Taxes-Justice/dp/0195150163  "Tyranny, Inc." by Sohrab Ahmari Link: https://www.amazon.ca/Tyranny-Inc-Private-American-Liberty/dp/0593443462  "The Individualists: Radicals, Reactionaries, and the Struggle for the Soul of Libertarianism" by Matt Zwolinski and John Tomasi Link: https://a.co/d/5lCZvGS  Thanks to our patrons including: Amy Willis, Kris Rondolo, and Christopher McDonald. To become a patron, go to patreon.com/curioustask

Alex speaks with Nimish Adhia about the practice of tipping, exploring its cultural and economic implications, as well as its persistence despite widespread criticism from various stakeholders. Adhia discusses the historical origins of tipping, its impact on workers and customers, and coordination problems that prevent its abolition, referencing his own case study on the topic. References “The Theory of Moral Sentiments” by Adam Smith Link: https://www.amazon.ca/Theory-Moral-Sentiments-Adam-Smith/dp/0143105922  “The Strategy of Conflict” With a New Preface by the Author” by Thomas Schellin Link: https://www.amazon.ca/Strategy-Conflict-Thomas-C-Schelling/dp/0674840313  “Governing the Commons: The Evolution of Institutions for Collective Action” by Elinor Ostrom Link: https://www.amazon.ca/Governing-Commons-Evolution-Institutions-Collective/dp/1107569788  “The Tipping Point: How Little Things Can Make a Big Difference” by Malcolm Gladwell Link: https://www.amazon.ca/Tipping-Point-Little-Things-Difference/dp/0316346624  “The Rise of Decline of Nations” by Mancur Olson Link: https://www.amazon.ca/Rise-Decline-Nations-Stagflation-Rigidities/dp/0300030797 Thanks to our patrons including: Amy Willis, Kris Rondolo, and Christopher McDonald. To become a patron, go to patreon.com/curioustask

Alex speaks with Erwin Dekker about the economics and public policy perspectives on art, examining various theories on how art derives its value in communities. Dekker explores the idea of the separation between art and state, discusses cultural significance and individual perception in determining the worth of art, and how art's intangible qualities challenge traditional economic valuation. References "Realizing the Values of Art: Making Space for Cultural Civil Society" by Erwin Dekker and Valeria Morea Link: https://www.amazon.ca/Realizing-Values-Art-Cultural-Society/dp/3031245970  Erwin Dekker's Website Link: https://www.erwindekker.com/  “Two approaches to study the value of art and culture, and the emergence of a third” by Erwin Dekker Link: https://link.springer.com/article/10.1007/s10824-014-9237-y  "The Value of Culture: On the Relationship between Economics and Arts" by Arjo Klamer Link: https://www.amazon.ca/Value-Culture-Relationship-between-Economics/dp/9053562184  "Arts and Economics: Analysis and Cultural Policy" by Bruno S. Frey Link: https://www.amazon.com/Arts-Economics-Analysis-Cultural-Policy/dp/3540002731  "Art and the Market: Roger Fry on Commerce in Art" by Crauford D. Goodwin Link: https://www.amazon.ca/Art-Market-Commerce-Selected-Interpretation/dp/0472109022  "Creative Destruction: How Globalization is Changing the World’s Cultures" by Tyler Cowen Link: https://www.amazon.ca/Creative-Destruction-Globalization-Changing-Cultures/dp/0691117837  "What Price Fame?" by Tyler Cowen Link: https://www.amazon.ca/What-Price-Fame-Tyler-Cowen/dp/0674001559  Thanks to our patrons including: Amy Willis, Kris Rondolo, and Christopher McDonald. To become a patron, go to patreon.com/curioustask

Matt speaks with Lauren Hall about "radical moderation," a framework that encourages moving beyond binary thinking in social and political issues. Hall explains her framework, which helps individuals navigate complex situations by fostering curiosity, empathy, and creative thinking. They also discuss the roles of community, parenting, and social psychology in moderating polarized views. Episode Notes:  “Radical Moderation” by Lauren Hall Find more at: https://radicalmoderatesguide.substack.com  “The Way Out: How to Overcome Toxic Polarization” by Peter T. Coleman Link: https://www.amazon.ca/Way-Out-Overcome-Toxic-Polarization/dp/0231197403  “High Conflict: Why We Get Trapped and How We Get Out” by Amanda Ripley Link: https://www.amazon.ca/High-Conflict-Why-Get-Trapped/dp/1982128569  “Elements of Justice” by David Schmidtz Link: https://www.amazon.ca/Elements-Justice-David-Schmidtz/dp/0521539366  “The Polarization Detox Challenge” by Starts With Us Explore more at: https://startswith.us/pdc/#:~:text=Coleman%2C%20Ph.,and%20solving%20problems%20across%20differences  “Family and the Politics of Moderation: Private Life, Public Goods, and the Rebirth of Social Individualism” by Lauren Hall Link: https://www.amazon.ca/Science-Family-Politics-Moderation-Policies/dp/0367523267 Thanks to our patrons including: Amy Willis, Kris Rondolo, and Christopher McDonald. To become a patron, go to patreon.com/curioustask

Alex speaks with Elias Khalil about the influential ideas of Ibn Khaldun, delving into Khaldun's theories on the rise and fall of civilizations, the nature of political communities, and the importance of solidarity (Asabiyya). Khalil connects these insights to classical liberal thought and the works of Adam Smith, emphasizing Khaldun’s impact on understanding political order as a product of social dynamics rather than divine intervention. References 1. "The Muqaddimah: An Introduction to History" by Ibn Khaldun, translated by Franz Rosenthal Link: https://www.amazon.ca/Muqaddimah-Introduction-History-Ibn-Khaldun/dp/0691166285 2. “Ibn Khaldoun and Adam Smith—Two Heroes of the Modern Age.” https://www.adamsmithworks.org/documents/ibn-khaldoun-and-adam-smith  3. “Ibn Khaldûn on Property Rights, The Muqaddimah: An Introduction to History.” Journal of Institutional Economics, August 2007, 3:2, pp. 227-238. (It includes a long excerpt (pp. 233-238) from Ibn Khaldûn’s The Muqaddimah: An Introduction to History.) http://dx.doi.org/10.1017/S1744137407000677 4. "The Theory of Moral Sentiments" by Adam Smith Link: https://a.co/d/j7XuEp4 5. "The Wealth of Nations" by Adam Smith Link: https://www.amazon.ca/Wealth-Nations-Adam-Smith/dp/1505577128