The Tom Woods Show, episode 1,045.

Prepare to set fire to the index card of allowable opinion.

Your daily dose of liberty education starts here, the Tom Woods Show.

Hello, everybody. Happy Thanksgiving to all my U.S. listeners.

Of course, what else would you want to talk about on Thanksgiving, if not

capital theory? Because we should give thanks for capital. Where would we be without it? In the

Stone Age, of course. So we're going to talk about the importance of capital and capital theory,

why the Austrians get it right, with our friend Matt Mahai, who's been on the show a couple of

times before. Matt teaches economics. who's been on the show a couple of times before.

Matt teaches economics. He's a professor at the University of Rotswav in Poland, and he is also

the author of a brand new book, which we're going to be talking about today, called

money, interest, and the structure of production, resolving some puzzles in the theory of capital.

And the beauty of my audience, by the way, is that they hear a title like that, and I don't have

to say to them, now wait, don't turn your dial. I know none of you are turning your dial because

you think, oh, this is going to be juicy. I love you guys. All right, because it is. It's very

important. This is what everybody gets wrong, and it's what we get right.

And Matt is one of the great young minds in this tradition, and I'm always glad to have a chance to talk to him.

Matt, welcome.

Thank you, Tom, anytime.

So let's look at your book.

I mean, obviously, it sounds rather technical, but I know you have a great skill

in explaining technical things to a mainstream audience. Now, if we want to call my audience

...