Podcasts about austrian economics overview

In this episode, Mark Thornton discusses The Triumph of Economic Freedom: Debunking the Seven Great Myths of American Capitalism, the new book by Senator Phil Gramm and Professor Donald J. Boudreaux.Mark reflects on the persistent misconceptions about capitalism in America and offers up a "Marxist interpretation" of our dilemma. He explores how entrenched ideologies shape the way information is presented, the influence of state actors on education and media, and the ways in which these forces skew perceptions of economic history. Ultimately, Mark argues for a more critical and evidence-based approach to understanding capitalism.Additional Resources"Your Kids Are Already Communists, and College Will Make It Worse" (Minor Issues, Episode 89): Mises.org/MI_89"Political Bias in Academia" (Minor Issues, Episode 95): Mises.org/MI_95Be sure to follow Minor Issues at Mises.org/MinorIssues

Dr. Jonathan Newman returns to the Human Action Podcast to discuss the relaunch of the Mises Academy—including his new course based on Bob's Lessons for the Young Economist textbook. But this conversation goes much deeper than curriculum. Bob and Jonathan unpack the fundamental question: What is economics, really? They explore how Austrian economics differs from psychology, history, and the natural sciences, why economics is more about understanding than prediction, and how praxeology reveals the logical structure of human choice.The New Mises Academy: Mises.org/HAP498aBob's Lessons for the Young Economist Textbook: Mises.org/HAP498bBob's Lessons for the Young Economist Teacher's Manual: Mises.org/HAP498cThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Dr. Jonathan Newman returns to the Human Action Podcast to discuss the relaunch of the Mises Academy—including his new course based on Bob's Lessons for the Young Economist textbook. But this conversation goes much deeper than curriculum. Bob and Jonathan unpack the fundamental question: What is economics, really? They explore how Austrian economics differs from psychology, history, and the natural sciences, why economics is more about understanding than prediction, and how praxeology reveals the logical structure of human choice.The New Mises Academy: Mises.org/HAP498aBob's Lessons for the Young Economist Textbook: Mises.org/HAP498bBob's Lessons for the Young Economist Teacher's Manual: Mises.org/HAP498cThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Grove City College has recently digitized its collection of post-war materials—including photos, correspondence, and manuscripts—from the great Austrian economist, Ludwig von Mises. Mises' biographer, Guido Hülsmann, joins Bob to discuss some of the treasures that have been made available online.Explore the Grove City College's Digital Mises Archive: Mises.org/HAP489aDr. Hülsmann's Biography of Mises, The Last Knight of Liberalism: Mises.org/HAP489bMurray's 99th birthday is March 2. Please share pictures of yourself (hashtag #happybirthdayrothbard) reading a Rothbard book or wearing a Rothbard t-shirt. The Mises Institute is celebrating with its Murray99 campaign: Everyone who donates $26 or more using the mises.org/murray99 link will receive a copy of Economic Depressions: Their Cause and Cure, originally published in 1969, and Nations by Consent, originally published in 1994. The first 26 donors will also receive the Rothbard lapel pin. All donations will fund student scholarships.Join the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25

Grove City College has recently digitized its collection of post-war materials—including photos, correspondence, and manuscripts—from the great Austrian economist, Ludwig von Mises. Mises' biographer, Guido Hülsmann, joins Bob to discuss some of the treasures that have been made available online.Explore the Grove City College's Digital Mises Archive: Mises.org/HAP489aDr. Hülsmann's Biography of Mises, The Last Knight of Liberalism: Mises.org/HAP489bMurray's 99th birthday is March 2. Please share pictures of yourself (hashtag #happybirthdayrothbard) reading a Rothbard book or wearing a Rothbard t-shirt. The Mises Institute is celebrating with its Murray99 campaign: Everyone who donates $26 or more using the mises.org/murray99 link will receive a copy of Economic Depressions: Their Cause and Cure, originally published in 1969, and Nations by Consent, originally published in 1994. The first 26 donors will also receive the Rothbard lapel pin. All donations will fund student scholarships.Join the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25

The Austrian school recognizes that economic analysis is timeless and the ancient story of “The Poor Man of Nippur” provides an excellent example. From time preference to the structure of production, many of the lessons are contained in this story.Original article: The Poor Man of Nippur and Austrian Economic Principles

The Austrian school recognizes that economic analysis is timeless and the ancient story of “The Poor Man of Nippur” provides an excellent example. From time preference to the structure of production, many of the lessons are contained in this story.Original article: The Poor Man of Nippur and Austrian Economic Principles

Murphy recently squared off against Nathan Tankus in a ZeroHedge debate focusing on Austrian economics vs. Modern Monetary Theory (MMT). Jonathan Newman watched the debate and selected three clips highlighting key areas of dispute. Jonathan and Bob elaborate on the issues and anticipate possible MMT replies.Bob's ZeroHedge Debate with Nathan Tankus: Mises.org/HAP484aBob and Jonathan's Tag-Team Mises University Lecture on MMT: Mises.org/HAP484bBob's Quarterly Journal of Austrian Economics Paper on The Deficit Myth: Mises.org/HAP483cWilliam Hutt's The Theory of Idle Resources: Mises.org/HAP484dUse code Action25 to get 10% off your ticket to Educating for Liberty Mises Circle in Tampa on February 22: Mises.org/Tampa25The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Murphy recently squared off against Nathan Tankus in a ZeroHedge debate focusing on Austrian economics vs. Modern Monetary Theory (MMT). Jonathan Newman watched the debate and selected three clips highlighting key areas of dispute. Jonathan and Bob elaborate on the issues and anticipate possible MMT replies.Bob's ZeroHedge Debate with Nathan Tankus: Mises.org/HAP484aBob and Jonathan's Tag-Team Mises University Lecture on MMT: Mises.org/HAP484bBob's Quarterly Journal of Austrian Economics Paper on The Deficit Myth: Mises.org/HAP483cWilliam Hutt's The Theory of Idle Resources: Mises.org/HAP484dUse code Action25 to get 10% off your ticket to Educating for Liberty Mises Circle in Tampa on February 22: Mises.org/Tampa25The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

One important difference between the Austrian and other schools of thought is the emphasis Austrians place upon purposeful human behavior. Consumption by individuals is not random, but rather purposeful action driven by subjective individual preferences.Original article: Subjective Valuation Versus Arbitrary Valuation

The challenge facing economic science is to counter the reactionary counterrevolution by states and governments that smother voluntary cooperation and free human interaction based on liberty. The chains must be thrown off in favor of the libertarian ideal of an anarchocapitalist system.This audio essay is a narration of the keynote lecture by Jesús Huerta de Soto presented at the 8th Conference on Austrian Economics in Madrid on August 2, 2024.

It should be clear from the articles in this book that the Austrian School is thriving. Per Bylund has rendered a great service in bringing the scholarship in A Modern Guide to Austrian Economics to our attention.Original article: New Austrian Insights

Modern academic economics is based upon the methodologies used to study the natural sciences. However, such methodologies are inappropriate to study economics, which must be based upon causal-realism.Original article: The Relevance of the Natural Sciences Methods in Economics

Modern academic economics is based upon the methodologies used to study the natural sciences. However, such methodologies are inappropriate to study economics, which must be based upon causal-realism.Original article: The Relevance of the Natural Sciences Methods in Economics

Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good economics must reflect human action.Original article: Assumptions in Economics and in the Real World

Austrian economics today needs critics. It doesn‘t need the critics (like Paul Krugman) who cannot give valid and accurate criticisms, but rather people who actually understand the concepts upon which Austrian thinking is built provide a real challenge.Original article: Wanted: Critics of Austrian Economics

Mainstream economists often base their analysis upon assumptions that do not square with reality. Austrian economics, on the other hand, is built upon realistic assumptions and the acknowledgement that good economics must reflect human action.Original article: Assumptions in Economics and in the Real World

Austrian economics today needs critics. It doesn‘t need the critics (like Paul Krugman) who cannot give valid and accurate criticisms, but rather people who actually understand the concepts upon which Austrian thinking is built provide a real challenge.Original article: Wanted: Critics of Austrian Economics

Originally published in the Mises Institute's Studies in Classical Liberalism series in 1999.The text of this essay is available at https://mises.org/essays-political-economy/cultural-background-ludwig-von-mises

Contrary to anti-freedom myths, "greedy" business owners don't decide what prices will be for goods and services. Original article: Why Austrian Business Cycle Theory Is Better than Keynesianism

Contrary to anti-freedom myths, "greedy" business owners don't decide what prices will be for goods and services. Original article: Why Austrian Business Cycle Theory Is Better than Keynesianism

In 1997, Bryan Caplan wrote an essay explaining why he was no longer a self-described Austrian. Recently, a reader asked him to comment on that essay. Bob reacts to Bryan's current views, arguing that the history of economic thought is indeed important, and the Misesian approach to praxeology is crucial.Bryan Caplan's Recent Article: Mises.org/HAP476aBryan Caplan's "Why I Am Not an Austrian Economist": Mises.org/HAP476bHoppe's Economic Science and the Austrian Method: Mises.org/HAP476cBob's Cambridge University Press Article on Böhm-Bawerk's Critiques: Mises.org/HAP476dA Modern Guide to Austrian Economics: Mises.org/HAP476eBob and David Freidman, "The Chicago Vs. Austrian School Debate": Mises.org/HAP476fThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

In 1997, Bryan Caplan wrote an essay explaining why he was no longer a self-described Austrian. Recently, a reader asked him to comment on that essay. Bob reacts to Bryan's current views, arguing that the history of economic thought is indeed important, and the Misesian approach to praxeology is crucial.Bryan Caplan's Recent Article: Mises.org/HAP476aBryan Caplan's "Why I Am Not an Austrian Economist": Mises.org/HAP476bHoppe's Economic Science and the Austrian Method: Mises.org/HAP476cBob's Cambridge University Press Article on Böhm-Bawerk's Critiques: Mises.org/HAP476dA Modern Guide to Austrian Economics: Mises.org/HAP476eBob and David Freidman, "The Chicago Vs. Austrian School Debate": Mises.org/HAP476fThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

The iconic Hermès Birkin bag helps illustrate Carl Menger's “Theory of the Good,” and Ludwig von Mises's explanation of human action.Original article: The Secret Economic Theory Behind the $100,000 Birkin Bag

The iconic Hermès Birkin bag helps illustrate Carl Menger's “Theory of the Good,” and Ludwig von Mises's explanation of human action.Original article: The Secret Economic Theory Behind the $100,000 Birkin Bag

There are numerous critics of the Austrian School of economics, but when their disparagements are closely examined, the so-called experts themselves are wrong. Austrians can do a better job of setting the record straight.Original article: Answering the Confused Critics of Austrian Economics

There are numerous critics of the Austrian School of economics, but when their disparagements are closely examined, the so-called experts themselves are wrong. Austrians can do a better job of setting the record straight.Original article: Answering the Confused Critics of Austrian Economics

On October 23, 2024, Jonathan Newman appeared on Kerry Lutz's Financial Survival Network to discuss the Mises Institute's commitment to promoting Austrian economics and individual liberty, the historical role of government in monetary control, and the concept of competing currencies as alternatives to government-managed money.The original episode is available at FinancialSurvivalNetwork.com.

Critics of Austrian economics often claim that real economic events are too complex to be dealt with via free markets. However, because Austrian economics is based upon understanding human action, it better explains why economic intervention routinely fails.Original article: Simple Counters to Simplistic Critiques of Austrian Economics

Central to the paradigm of Austrian Economics is the action axiom. People act, and they act purposefully. That knowledge alone permits us to construct an entire set of theories that explains economic life.Original article: Understanding the Action Axiom: How It Shapes the Structure of Society

On October 17, 2024, Jonathan Newman appeared on Wake-Up Call with Bill Lundun to discuss Austrian economics, Donald Trump, and mainstream economists.The original episode is available at News Radio 1120 KPNW.Bill Lundun (BL): News Radio 1120 KPNW, thanks for being with us this morning. We have like two different things that we keep hearing when it comes to this particular election period. And it is that Americans overall trust Trump more on the economy. And that's we're talking about voters, whereas the so-called experts don't. Who to believe to discuss it this morning? It is Dr. Jonathan Newman. He is a fellow at the Mises Institute, which is a nonprofit that promotes the teaching and research in the Austrian School of Economics. And it's in the tradition of Ludwig von Mises and Murray Rothbard. And welcome to the show. We appreciate you being here with us. Thank you, Jonathan.Jonathan Newman (JN): Hey, thanks for having me.BL: Yeah. Talk a little bit about Ludwig von Mises and kind of what he stood for in his branch of, if you will, economic research.JN: Sure, Ludwig von Mises is sort of the godfather of Austrian economics, which is a school of economic thought that's very free market. We don't do a lot of mathematical modeling. We consider the individual as having subjective value, and through people's subjective values, they interact in markets, creating market prices, and those market prices are fundamental for developing an economy, for understanding how resources should be allocated. We should be using the profit and loss test to determine how to most efficiently produce things. And so many of the conclusions of the Austrian school are very free market. And of course, Ludwig von Mises was one of the you know the main figures in Austrian economics. He started his career, obviously in Austria, that's why the name of the school's called Austrian economics. But he had to flee the Nazis. So he was he was under pressure from the Nazis, because he was saying things that were critical of government. Obviously he had to flee that area, and he came over to the United States in New York. And had a very famous seminar where many American economists and others were listening to him, and he sort of sparked the Austrian movement in the United States. And so it's grown and flourished since then, and we have the Mises Institute in Auburn, Alabama, that champions his ideas, champions Austrian economics, and is trying to educate everybody about the best way to think about the economy, the best way to analyze policy proposals from politicians and bureaucrats, and promote free markets along the way.BL: If he were to see the markets today and the way that things are, if you will, manipulated in a number of ways, the way the government policy attempts to manipulate things, what would be his takeaway, do you think?JN: I think Mises would be most disturbed by the fiat money system that we have in place today. So in the United States, we have the Federal Reserve, which is our central bank. They are the ones who are controlling the supply of money. They're manipulating interest rates. And Mises would pin the blame on this monetary policy by the Federal Reserve for creating booms and busts, for creating these artificial booms where employment goes up, stock prices go up, everything seems to be going well, and then all of a sudden it crashes. And so one of the crown jewels of Austrian economics is Austrian business cycle theory, which explains how it's actually government manipulation in credit markets that causes these booms and busts, that causes the business cycle. So he would definitely not like that, but he also, just in terms of the general effects of inflation, he would say that the fact that savings rates are way down, nobody's really saving for the future, is because people's money is losing value. And so it doesn't really make any sense to save money for retirement if that money is going to be losing its purchasing power over time. And so that forces people to save for retirement, for example, by investing in the volatile stock markets. So he would obviously, he would disagree with the monetary policy, he would disagree with the size and scope of government as it exists today, and he would champion a more free market approach, where markets are the ones that are and regulating themselves, where consumers are the ones that are deciding which companies are producing things that we like, and use the profit and loss test of the market to rationally and efficiently allocate factors of production, so that we have a growing progressing economy.BL: Alright. To the very basic question. In polling, there's been a lot of polling in regards to this, and that Americans actually trust Trump on the economy, and yet we have these experts, call them so-called or call them actual experts, that don't and the question is so who to believeJN: Well, I definitely wouldn't put much faith in the so-called experts. The so-called experts have been wrong about so many things in the past. And so I think that the reason why people think that Trump and the Republican Party represents more of a... would represent a turn towards a stronger economy is because they're really the only ones that are talking about decreasing, or at least limiting, the increases in the size and scope of government. So if you look at the rhetoric and the proposals from Democrats, there's this problem in the United States and we can solve it with more government intervention and more government spending. There's this other problem that we can solve with more government intervention and more government spending. And yet only on the Trump side, you have at least some rhetoric about how we need more efficiency in government, we need to decrease the size and scope of government. And so people realize that a lot of the problems that the Democrats are pointing out are ones that are caused or exacerbated by government spending and government intervention. And so it makes sense that Americans are sort of doubtful that the Democrats have any sort of a good plan regarding a stronger economy.BL: What about the criticism that has been made because, you know, Trump has once again talked about tariffs, in particular regarding China, and a lot of the, as we've talked about them, the experts are like, "Oh my God, it's going to do these horrible things to the economy. It's going to cause prices to spike again." What's your take on that?JN: I think it's a valid criticism. I think it's good to be distrustful of tariffs because, I mean, in the end a tariff is a tax. And so I'm not going to be the one that says, you know, everything that Trump has ever proposed is a free market and it's going to be good for the economy. But, of course, what Trump is seeing and what the people in the Republican party are seeing is, you know, hollowed out manufacturing in the United States. They see, you know, loss of jobs. So they see these sorts of the things happening, and so they think the tariffs would be a good way to address it. I think that economic theory going all the way back to the 1700s, I mean, you can go back to Richard Cantillon, to Adam Smith, to those guys. And I think that they very compellingly showed that tariffs and protectionism is not a good way to address those sorts of problems. But, in terms of the grand scheme of things, if we're arguing over should we have, you know, this tariff rate versus that marginally different tariff rate, then that's sort of a side issue. Really, the main thing that I think people are focused on is inflation. It's all of the regulations that are imposed on the economy by the government. It's those sorts of things. So, yes, I do have some quibbles with the with the tariff idea, but I still think that it makes sense that Americans are trusting the Trump side and really the distrust of the establishment and the distrust of the so-called experts.BL: Right. You know, one of the things that you hear from the public individuals is, you know, "I just want to see prices come down," and you look at it and I don't remember any time that prices, maybe a little bit here and there, where once you have a period of inflation, with maybe the exception of gas prices, where prices fall and come down. Unless we're talking about a major case of deflation, which is a whole other you know a whole a whole other can of worms that can be actually worse than inflation. Talk a little bit about that whole idea of prices coming down.JN: I think people are worried about deflation for the wrong reasons. And I think the reason that they're worried about is because they associate it with what happened during the Great Depression, where we had a huge increase in unemployment, where output shrank, and we also had price deflation happening at the same time. And so people sort of associate those things. They think deflation is associated with recessions. But it's worth pointing out that there are quite a few things that could result in deflation. And one of the healthiest periods of, you know, economic growth in the United States happened when we were under a gold standard, where output was increasing but the money supply was not increasing by the same amount. And so we had, you know, steady deflation. And we didn't have – it was a long-term steady deflation that promoted savings that allowed – made it easy – for businesses and for consumers and households to make decisions over the long term. It made it easy for people to save with money as opposed to investing in the stock market. And so if your money is gaining value over time, then you can imagine how that would totally restructure the way that the whole economy is allocating resources. So, if money is gaining value over time, then people have an incentive to save. If people are saving, then we have more capital accumulation. If we have more capital accumulation, then our economy can grow in a sustainable sort of way as opposed to the booms and busts that we have now. So, I think the fear of deflation, or deflation-phobia as some people call it, is just based on that one episode in economic history in the United States where I think we should be more comfortable with the idea of our money gaining purchasing power over time, and it could be a very healthy sort of thing.BL: How is that going to happen though? Because you mentioned and you started off by qualifying it with, "While we were under the gold standard." It's a completely different valuation of the way that the dollar is factored right now. Can that could that happen again on a federal reserve system like we have?JN: Oh, absolutely not. Going back to that sort of system of sound money, and I'm not saying that it has to be a gold standard, but going back to a system where, you know, government is not intervening in money and banking, would require a huge shift. It would require a shift in people's thinking and the way that they vote. It would have to require, you know, ending the Federal Reserve, or at least severely limiting its power. And so you're absolutely right that, you know, going back to a system like that, it would require a big change. But the really the first thing that people think about when somebody proposes ending the Federal Reserve or auditing the Federal Reserve or limiting its power is, they think, "Well, what about deflation?" or "What about booms and busts?" And really what Austrian economists are saying is that, if we did get rid of the Fed, then we would actually have a smoother economic growth. We would have stable deflation where people's money is growing in purchasing power. We wouldn't have all the booms and busts, because Austrian economists point out that it's manipulated interest rates that result in those artificial booms and the painful busts that follow. So, you're absolutely right. It would require a big shift. If people are interested in how we would actually reach that stage where we could go back to sound money as opposed to political money, fiat money, then I recommend that listeners check out the writings by Murray Rothbard. If they go to Mises.org/MyMoney, then they'll receive a free reading from Rothbard, a PDF, where they can get it mailed to them. And so there's great plans offered by Rothbard, a great Austrian economist, that would explain how we get there.BL: All right. Appreciate you joining us on the Wake Up Call. Dr. Jonathan Newman here on KPNW. Thanks again.JN: Thanks for having me.

On October 18, 2024, Jonathan Newman appeared on The Lakey Effect with Jimmy Lakey to discuss whether or not voters should trust Trump on the economy. Or, should voters trust the experts who say that Donald Trump is going to ruin the economy?The original episode is available at The Lakey Effect (Newstalk 600 KCOL) on iHeartRadio.com.

Central to the paradigm of Austrian Economics is the action axiom. People act, and they act purposefully. That knowledge alone permits us to construct an entire set of theories that explains economic life.Original article: Understanding the Action Axiom: How It Shapes the Structure of Society

Critics of Austrian economics often claim that real economic events are too complex to be dealt with via free markets. However, because Austrian economics is based upon understanding human action, it better explains why economic intervention routinely fails.Original article: Simple Counters to Simplistic Critiques of Austrian Economics

When people speak of “old school economics,” they generally mean the application of economic thinking that involves what we might call “common sense.” That would include permitting a price system to work, protecting private property, and so on. But there is more.Original article: What is Old School Economics?

When people speak of “old school economics,” they generally mean the application of economic thinking that involves what we might call “common sense.” That would include permitting a price system to work, protecting private property, and so on. But there is more.Original article: What is Old School Economics?

Keynesians are known for using obscure and jumbled jargon to explain their fallacious ideas. The hope being that, the more confusing the language, the greater the perceived scholarship. Good economics can and should be clearly logically explained.Original article: Conceptual Clarity in Dismantling Economic Jargon

Keynesians are known for using obscure and jumbled jargon to explain their fallacious ideas. The hope being that, the more confusing the language, the greater the perceived scholarship. Good economics can and should be clearly logically explained.Original article: Conceptual Clarity in Dismantling Economic Jargon

The phrase, old school economics, is often used positively or approvingly by many, but it's rarely explained. What is this school and where is it located? You can be sure that it is not what is taught in most college classrooms today. It's definitely not Keynesian or Marxist economics. But what is it?Order a free paperback copy of Per Bylund's How to Think About the Economy at Mises.org/IssuesFree.Follow Minor Issues at Mises.org/MinorIssues.

"Even those who look upon the inequality of wealth and incomes as a deplorable thing, cannot deny that it makes for progressing capital accumulation. And it is additional capital accumulation alone that brings about technological improvement, rising wage rates, and a higher standard of living." —Ludwig von Mises, Human ActionRecorded at the Mises Institute in Auburn, Alabama, on August 2, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

The application of Austrian economics to the study of games, video games, and virtual worlds.Recorded at the Mises Institute in Auburn, Alabama, on August 1, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

Every game has a structure that involves three elements: you have players, you have strategies, and you have the outcomes.Recorded at the Mises Institute in Auburn, Alabama, on August 1, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

Recorded at the Mises Institute in Auburn, Alabama, on July 31, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

Comparative institutional analysis of both policing provided by government bureaucracies and by private enterprises that can engage in economic calculation.Recorded at the Mises Institute in Auburn, Alabama, on July 31, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

"The market process is cumulative. It builds off of what is. So, if you abolish the regulations, that's going to be better."Recorded at the Mises Institute in Auburn, Alabama, on July 31, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

The task of the economic historian that views government regulation through the lens of cronyism is to uncover the actual motivations—not the stated motivations—behind legislation and reveal who really benefited.Recorded at the Mises Institute in Auburn, Alabama, on July 31, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

Austrian business cycle theory is the defining feature of Austrian economics.Recorded at the Mises Institute in Auburn, Alabama, on July 30, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

The minimum wage is harmful, racist, sexist, and completely unnecessary.Recorded at the Mises Institute in Auburn, Alabama, on July 30, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

Austrian economists understand how we can apply economic laws and concepts to what we see in the real world.Recorded at the Mises Institute in Auburn, Alabama, on July 30, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

"The implication of incorporating into our theory of price, the valuations that we engage in as human beings with respect to time."Recorded at the Mises Institute in Auburn, Alabama, on July 30, 2024.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.