Ask An Austrian, Ep. 3—Bob Murphy

Submit your questions for the next episode at AskAnAustrian.com! Bob Murphy is the author of, among many other works, Choice: Cooperation, Enterprise, and Human Action. He his own podcast, The Bob Murphy Show, and was the co-host of the Contra Krugman podcast. Question 1 @ 0:22—GDP includes government spending. MV therefore includes what government spends. Does M include Fed infusions? Question 2 @ 4:00—What, if any, are the limits to consent under a libertarian/Austrian framework? Question 3 @ 9:49—Should there be government mask mandates to fight COVID-19?  Do Austrian economics or libertarian theory provide any perspectives on this question? Question 4 @ 13:42—In a voluntary society how could nuclear, biological, and chemical weapons be handled in a way that doesn't require a state, but also would stop deranged individuals from using them on peaceful people? Question 5 @ 17:22—Is there any moral limit on free trade? Is there any point at which another country or trading partner violates libertarian principles so egregiously that you cut off relations? Question 6 @ 21: 30—A lot of people are bullish about the current economy, including many libertarians. Are they right or are there reasons to anticipate another crash soon? Question 7 @ 24:03—Assuming it doesn't, why does protectionism not benefit the protected nation's industrial base? Question 8 @ 26:18—If there are no intellectual property laws, why would pharmaceutical companies do expensive research and development? Question 9 @ 28:33—In a truly free market economy would we see the ups and downs in the stock market, or the market in general, that we have been seeing the last 100+ years?