Wrestler, Actor, Politician, Economist (1967-Present)
Glenn Jacobs is best know as the WWE wrestler Kane. He’s a former WWE and World Heavyweight Champion and, along with his storyline brother The Undertaker, one half of The Brothers of Destruction. However, he is also an economist.
Jacobs graduated with an undergraduate degree in English Literature and, consequently, speaks in an incredibly articulate manner. His inquisitive nature led him to study economics, and he has become a very big proponent of the Austrian school of thought. He has even given a speech at the Ludwig von Mises Institute. If you listen to any of his lectures you will, undoubtedly, agree with much that he has to say on Austrian economics.
For instance, Jacobs asserts that: “Keynesian economics is really just models and numbers and how things would work in a laboratory, not how things work in the real world. The beauty of Austrian economics of is that it studies how things work in the real world. Economics is not a predictive science. You can’t say, ‘If we do this, this is what’s gonna happen.’ It is a descriptive science; in other words, it describes what’s going on. Austrian economics says the economy runs itself, and all that we’re trying to do is understand how the economy really works.”
Jacobs champions the free market and argues against big government because it leads to “high taxes, less personal freedom, corruption, less opportunity for people to improve their own life, and a stifling of our ability to take care of one another.”
Additionally, Jacobs argues that the Federal Reserve enables big government. “The reason the fed is so important is because it empowers big government. People don’t like to pay taxes. When taxes go up, they tend not to vote for the people who are in office. So the politicians and the central bankers figured out a way to circumnavigate that. ‘We’ll print the money, that will buy the services that people expect from the government, and then people pay for it through price inflation, but of course because the price inflation comes later because it’s hidden…we can blame that on the market, we can blame that on business people, we can blame that on greedy oil companies.”
Jacobs is a Republican and is actively involved in libertarian politics. Jacobs commented that: “the great thing about libertarianism is that it really is the American Dream. It is the ability of everybody to live their life, to build their life, according to what they want so long as you don’t hurt anybody else.”
“I absolutely think that if the American people could see what the Fed really does and who benefits from their policies, they’d realise that all this stuff about stimulating the economy, it has nothing to do with stimulating the economy … It’s about stimulating the bonuses on Wall Street.”
– Glenn Jacobs