Mises Fellow, Mateusz "Matt" Machaj joins Bob to discuss his new booklet from Routledge, which explains how mainstream economists have responded to the recent bout of price inflation.

Progressives are claiming that corporate profits are one of the causes of inflation. However, if inflation increases consumer prices, it also causes production costs to rise. That is not a recipe for profitability.

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While Mises was a utilitarian, he believed people acted to improve their lot because of a felt uneasiness that could be rectified through free markets.

While Mises was a utilitarian, he believed people acted to improve their lot because of a felt uneasiness that could be rectified through free markets.

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Mises is a person who can set us right.

Despite statements from Biden and other progressives, profits in a market economy are not a form of plunder. Instead, they represent entrepreneurial gains that mostly benefit consumers.

Many people are selling their gold to make ends meet. Others are buying gold as insurance against mounting price inflation.