Sound Money or Soft Despotism w/ Barbara Kolm

Barbara Kolm, President of the Austrian School of Economics, joins Alex Buxeda to dismantle the myths of monetary nationalism, expose the political incentives behind inflation, and explain why trust collapses when money becomes a political tool. They explore Carl Menger’s legacy, why money is a discovery not an invention, how time and information shape economic order, and why Europe is quietly drifting toward central planning through the “law of rules”. From Bitcoin’s “don’t trust, verify,” to demographic decline, taxation traps, bureaucratic overreach, CBDCs, nudging theory, and the collapse of competitiveness in Europe, this episode is a deep dive into the institutions that shape freedom, responsibility, and prosperity.   0:00 Monetary nationalism and why debasing your currency backfires 1:54 What sound money is, and why states debase it 4:01 Menger vs. Knapp: money as discovery, not law 7:52 Time, value, and why information spreads slowly 10:01 Stability, the rule of law, and the "law of rules" 11:59 Brussels, central planning, and the lost subsidiarity principle 15:17 Europe's demographic collapse and falling productivity 17:46 Taxes on labor and why no one works more 20:03 The hidden costs in tax and social security 22:04 Capital flees to where it's best treated: Venezuela 23:31 Price tags on government: making the cost visible 27:08 Social justice, responsibility, and providing opportunity vs. redistribution 32:04 Fractional reserve, cash limits, and destroying property rights 34:35 CBDCs, self-sovereignty, and why cash is the ultimate settlement 38:11 Nudging as central planning: Spain's blackout and Germany's solar 41:52 Closing thoughts