Episode Details

This week, Bob walks through three thought experiments to show how expectations of future supply changes ripple into present prices and production decisions in ways that purely mechanical monetary frameworks like MV=PQ can't capture.

Related:

• How Can Mining Asteroids in the Future Make Us Richer Today?: Mises.org/HAP551a
• Bob's 2008 Article on Oil Prices: Mises.org/HAP551b

Celebrate Murray Rothbard's 100th birthday with a free copy of Anatomy of the State. Get yours at Mises.org/HAPodFree