Mises Fellow Kristoffer Hansen joins Bob to discuss Mises' perspective on fractional reserve banking and free banking. Earlier this month, Larry White referenced Hansen’s work on fractional reserve banking, asserting that Hansen indicated Mises acknowledged the benefits of FRB. Kristoffer clarifies his paper and examines what Mises wrote in Human Action on the topic.

Additionally, Bob and Kristoffer delve into the influence of the Currency School on banking and economic instability, as well as how commodity-backed money might impact the business cycle.

• Kristoffer's Article in the QJAE, "Sound Money without Free Banking": Mises.org/HAP472a
• Kristoffer and Jonathan Newman's Article in the QJAE Clarifying Rothbard's Definition of Inflation: Mises.org/HAP472b
• Human Action Podcast Episode 470 on the Debate Over Fractional Reserve Banking: Mises.org/HAP472c

The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Has economics fallen to politics? Court economists like Paul Krugman–we might call them "regime economists"–represent a profession in big trouble. Jeff and Bob discuss.

In response to Murphy's recent article on comparative advantage, economist Jorge Morales Meoqui objected that Murphy was continuing the same erroneous story about Adam Smith vs. David Ricardo. In this episode, Murphy clarifies what is right and wrong in Meoqui's own paper on the topic.

• Jorge Morales Meoqui's Article on Comparative Advantage: Mises.org/HAP471a
• The Bob Murphy Show, Episode 352 on Comparative Advantage: Mises.org/HAP471b
• Bob's Article, "The Beauty and Importance of Comparative Advantage": Mises.org/HAP471c

The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree