Peter Boettke is economist of the Austrian School. He is currently an economics and philosophy professor at George Mason University; the BB&T Professor for the Study of Capitalism, Vice President for Research, and Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at GMU. His newest book is “F. A. Hayek: Economics, Political Economy and Social Philosophy (Great Thinkers in Economics).”
Peter got hooked on economics during college after being hired for his first job – digging pools. He saw taxes being taken out of his pay and personally felt the negative effects. The philosophy behind why his checks were being garnished didn’t sit well with him. Rather than be frustrated, he got fascinated with the way economics worked and quickly saw there was something obviously wrong with the way government was ran. Along with signing up for all the economics classes he could, Peter went to the library and read. He had “a-ha” moments in those reading sessions that has molded him to be the economist he is today.
Michael and Peter touch on a broad scope of topics including: What is Peter’s perspective on President Trump’s view of trade wars and tariffs? Should intellectual property be protected? What is rent seeking and how does it relate to Jeff Bezos? What separates the American entrepreneurial spirit from entrepreneurs overseas?
In this episode of Trend Following Radio:
Politics in the marketplace
Zero sum game
Jeff Bezos and rent seeking
The market for privileges
Merchant class mentality