podcast by Tom Woods, with his splendid guest Shawn Ritenour, on capital formation, the division of labour, and why the 'Keynesian Revolution' and foreign aid failed to bring countries out of poverty (except for the kleptocrats running those countries). They also discuss the crucial importance of institutions such as private property and sound money, and how these help the equally crucial entrepreneurial process, which most orthodox economists simply miss out of their analyses, before these Keynesians recommend yet more foreign aid to be pumped into the Swiss bank accounts of yet more kleptocrats.
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