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.
- 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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