Michael McKay – Life Navigation With Austrian Economics | Libertarianism.UK Podcast

Today, we spoke with Michael McKay, a Lew Rockwell blog author, about the key principles of Austrian economics and how and why they can become a life navigation tool. Along the way, we covered choice analysis, decision management, relationship management, the life and times of the late great Yuri Maltsev, how to become a better investor and entrepreneur, the rise of artificial intelligence, the rise of the global gig economy, and many other related topics.

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  • 0:00 – Intro
  • 2:01 – Who is Michael McKay?
  • 3:00 – What are the key principles of Austrian economics?
  • 11:52 – Why should people apply these principles to daily life decisions?
  • 16:17 – The road from socialism
  • 22:32 – Cognitive dissonance and transformation
  • 23:36 – Some reminiscences about Professor Yuri Maltsev
  • 27:26 – Life navigation with Austrian economics
  • 30:17 – The need to also understand Keynesianism, in the modern world of central banks and fiat currency
  • 35:25 – How can someone become a better investor using these principles?
  • 42:21 – Using the principles to guide your relationships
  • 49:09 – The rise of artificial intelligence and navigating through the upcoming ‘Gig’ economy
  • 56:19 – Further resources to learn more about Austrian economics and life navigation
  • 1:01:34 – Wrap-up

Michael McKay’s main link at the Lew Rockwell blog:

Here are links to the main articles, books, and other resources mentioned in today’s show.

Economics Is About Scarcity, Property, and Relationships:

Secrets About Money That Put You at Risk:

Austrian Economics and Anarcho-Capitalism: Peace, Prosperity and Freedom:

Faustino Ballvé and Essentials of Economics:

Murray Rothbard and What Has Government Done to Our Money?:

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