The Tom Woods Show, episode 1347.

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

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

Folks, by far one of the most dangerous economic misconceptions of the 20th century

is that the financial crisis of 2008 was caused by deregulation.

Unregulated capitalism led us here.

It's dangerous because the next time this happens, they're going to come up with even worse solutions.

So, we've got to get this one right, and you can, if you read my free e-book, The Deregulation Boogieman.

Pick it up at Regulation Myths.com.

Hi, everybody. Tom Woods here. I mentioned the other day that in light of the three fairly

lengthy episodes I've done so far this week and not wanting to clog up people's podcast listening schedules. I decided that the

remaining couple of episodes this week would be on the shorter side. So this one will be a

little bit on the shorter side. Sometimes I say that and then it just goes on and on and on forever,

but I think I'm right about this one. And I thought I would just say a little bit,

not the definitive word for all time, but a little bit about the billionaires issue. And I'm

going to link on the show notes page to a couple of articles on this subject that have come out

recently that I like. Show notes page, of course, Tom Woods.com slash 1347. When you talk about this subject, of course, with libertarians, they're going to say, but look, a lot of billionaires came to their wealth in disreputable ways, or they got their wealth because of the state or the Federal Reserve helped them in one way or another. And I know that.

I know that that can be the case. But I think that's a cop-out because it's quite possible for somebody

to become a billionaire simply on his own merits and simply by offering something to society

that benefits a lot of people.

I think that is possible.

And just to try to curry favor with the other side by saying, look, we also are suspicious of

...