The Tom Woods Show, episode 1363.

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

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

Folks, social media is a pit of misinformation when it comes to the subject of guns.

So what you need is my free e-book,

your Facebook friends are wrong about guns. Smashes all the myths and a lot of fun to read.

Pick it up at wrongaboutguns.com.

Hello everybody, Tom Woods here. I am all by myself today, and I want to talk about a topic that I could have sworn I covered

at one time or another on this podcast. And so I went and I looked through the episodes, and I found

one episode in which I devoted a small portion to this topic. So if you blinked, you would have

missed it. So I think this topic

does require its own episode because it does come up a lot. And it is the source of a lot of

confusion and indeed potential mischief. This is one of these cases where, as Hayek said in his

great essay, history and politics, which appears in his edited volume

capitalism and the historians, it really matters that we get history right for a number of

reasons, but one of them is when you get history wrong, you tend to get the present wrong also.

So that is to say, if I look back on the alleged age of the robber barons, and I have completely the wrong idea about that, that's going to influence the way I think about the economy today.

And likewise, if I look back at the Great Depression in World War II, and I say World War II lifted the country out of the Great Depression, but that's not correct, then today I might

well say, well, apparently a whole lot of spending, government spending, lifts countries out

of a depression or a recession. And so isn't that what seems to be called for now?

So very, very important to address this. And that's what we're going to be doing in this here episode.

Let me point out very quickly we had an issue with one of the team members over here at Tom Woods, Inc.

...