Podcasts about austrian theory

Paul Cwik revisits the podcast to explain his new book, which aims to simplify ABCT for economics students and professors, especially those teaching at the principles level. Dr. Cwik critiques mainstream economic theories for oversimplifying business cycles, arguing that the Austrian theory better explains systemic errors and the boom-bust cycle driven by distorted interest rates.Dr. Cwik's New Book, Austrian Business Cycle Theory: An Introduction: Mises.org/HAP468aRoger Garrison's Famous Lecture, "The Austrian Theory of the Business Cycle": Mises.org/HAP468bRichard Ebeling's Monograph, The Austrian Theory of the Trade Cycle: Mises.org/HAP468cCarilli and Dempster, "Expectations in Austrian Business Cycle Theory: An Application of the Prisoner's Dilemma": Mises.org/HAP468dThe 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

Paul Cwik revisits the podcast to explain his new book, which aims to simplify ABCT for economics students and professors, especially those teaching at the principles level. Dr. Cwik critiques mainstream economic theories for oversimplifying business cycles, arguing that the Austrian theory better explains systemic errors and the boom-bust cycle driven by distorted interest rates.Dr. Cwik's New Book, Austrian Business Cycle Theory: An Introduction: Mises.org/HAP468aRoger Garrison's Famous Lecture, "The Austrian Theory of the Business Cycle": Mises.org/HAP468bRichard Ebeling's Monograph, The Austrian Theory of the Trade Cycle: Mises.org/HAP468cCarilli and Dempster, "Expectations in Austrian Business Cycle Theory: An Application of the Prisoner's Dilemma": Mises.org/HAP468dThe 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

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.

Entrepreneurship can be learned via philosophy and principles: cultivating an entrepreneurial mindset, fostering adaptability, and problem-solving skills, and embracing dynamic market processes.Mark Packard, Professor Of Business And Entrepreneurship at Florida Atlantic University and Director of the Madden Center for Value Creation, contrasts entrepreneurial business education with traditional business paradigms. An entrepreneurial curriculum focuses on dynamic market processes and the pivotal role of the entrepreneur in the capitalist market system. Mark proposes experiential learning, where students engage with real-world challenges, fostering adaptability and problem-solving abilities crucial in today's rapidly changing business landscape.Mark emphasizes the broader impact of entrepreneurial thinking, spanning industries such as healthcare, where innovative models like direct primary care challenge established norms. By integrating philosophical insights and subjectivism, entrepreneurial education can cultivate a mindset of continuous learning and value creation. Mark underscores the importance of introspection and experimentation in breaking free from conventional thinking patterns. Ultimately, the conversation highlights the transformative potential of entrepreneurial education in fostering innovation, adaptability, and societal change across all sectors.Resources: Connect with Hunter Hastings on LinkedIn: Connect with Mark Packard on LinkedIn: Check out The Value Creators Online Course by clicking here. FREE PDF: 26 Ways To Think Better about Business.Mark Packard: Entrepreneurial Valuation: An Entrepreneur's Guide To Getting Into the Mind of CustomersShow Notes: 0:00 | Intro0:18 | The Next Management: Reinventing Management for the Digital Age6:33 | Subjectivist Thinking: Shifting Mindset for Business Innovation7:46 | Prioritize Customer Experiences over Finances9:59 | Reverse Engineering 12:01 | Systems Thinking Approach: Business Role in the Customer's Lives 15:14 | Applying Austrian Economics in Business Education18:47 | Austrian Theory was Always Focused on Complexity20:21 | Marsha's Degree in Business22:19 | Learning Experience24:14 Can AI Simulations Foster Dynamic Entrepreneurship?26:25 | Transforming Company Culture Through Entrepreneurial Hires31:32 | Core Principles: Understanding Value, Empathy, Creativity34:14 | Full Use Cycle35:53 | Empowering Diverse Skill Sets for Business Impact35:54 | History/Philosophy Grads Excel with a Value Creation Mindset40:05 | Revolutionizing Healthcare Through Value-Driven Practices41:37 | Wrap-Up

In this week's episode, Mark looks at the implications of famed investor Jim Chanos shutting down his hedge fund which specialized in shorting stocks. The closure comes as stock markets in the US hit all time record highs. Mark frames these two events in light of the Austrian Theory of the Business Cycle. Be sure to follow Minor Issues at Mises.org/MinorIssues. Get your free copy of Murray Rothbard's Anatomy of the State at Mises.org/IssuesFree. Additional Resources "The Social Function of Stock Speculators" by Robert P. Murphy: Mises.org/Minor46_A "Short Sellers Keep the Market Honest" (Wall Street Journal) by Jim Thanos: Mises.org/Minor46_B "Jim Chanos, Short Seller Who Took on Enron and Tesla, to Close Hedge Funds" (Wall Street Journal) by Gregory Zuckerman Follow and Peter Rudegeair: Mises.org/Minor46_C

In this week's episode, Mark looks at the implications of famed investor Jim Chanos shutting down his hedge fund which specialized in shorting stocks. The closure comes as stock markets in the US hit all time record highs. Mark frames these two events in light of the Austrian Theory of the Business Cycle. Be sure to follow Minor Issues at https://Mises.org/MinorIssues Get your free copy of Murray Rothbard's book Anatomy of the State at Mises.org/IssuesFree Additional Resources "The Social Function of Stock Speculators" by Robert P. Murphy: https://Mises.org/Minor46_A "Short Sellers Keep the Market Honest" (Wall Street Journal) by Jim Thanos: https://Mises.org/Minor46_B "Jim Chanos, Short Seller Who Took on Enron and Tesla, to Close Hedge Funds" (Wall Street Journal) by Gregory Zuckerman Follow and Peter Rudegeair: https://Mises.org/Minor46_C

In this week's episode, Mark looks at the implications of famed investor Jim Chanos shutting down his hedge fund which specialized in shorting stocks. The closure comes as stock markets in the US hit all time record highs. Mark frames these two events in light of the Austrian Theory of the Business Cycle. Be sure to follow Minor Issues at Mises.org/MinorIssues. Get your free copy of Murray Rothbard's Anatomy of the State at Mises.org/IssuesFree. Additional Resources "The Social Function of Stock Speculators" by Robert P. Murphy: Mises.org/Minor46_A "Short Sellers Keep the Market Honest" (Wall Street Journal) by Jim Thanos: Mises.org/Minor46_B "Jim Chanos, Short Seller Who Took on Enron and Tesla, to Close Hedge Funds" (Wall Street Journal) by Gregory Zuckerman Follow and Peter Rudegeair: Mises.org/Minor46_C

In this week's episode, Mark looks at the implications of famed investor Jim Chanos shutting down his hedge fund which specialized in shorting stocks. The closure comes as stock markets in the US hit all time record highs. Mark frames these two events in light of the Austrian Theory of the Business Cycle. Be sure to follow Minor Issues at Mises.org/MinorIssues. Get your free copy of Murray Rothbard's Anatomy of the State at Mises.org/IssuesFree. Additional Resources "The Social Function of Stock Speculators" by Robert P. Murphy: Mises.org/Minor46_A "Short Sellers Keep the Market Honest" (Wall Street Journal) by Jim Thanos: Mises.org/Minor46_B "Jim Chanos, Short Seller Who Took on Enron and Tesla, to Close Hedge Funds" (Wall Street Journal) by Gregory Zuckerman Follow and Peter Rudegeair: Mises.org/Minor46_C

What is a business cycle? Download lectures slides at Mises.org/MU23_PPT_14. Recorded at the Mises Institute in Auburn, Alabama, on 25 July 2023.

What is a business cycle? Download lectures slides at Mises.org/MU23_PPT_14. Recorded at the Mises Institute in Auburn, Alabama, on 25 July 2023.

For a chapter in Per Bylund's new collection, Bob explained the pure time preference theory (PTPT) of interest, and then offered suggestions for future work on an Austrian theory of interest. He summarizes his chapter in this episode.Mentioned in the Episode and Other Links of Interest:Per Bylund's 2022 edited collection.Part 1 and Part 2 and Part 3 in the series on Capital & Interest in the Austrian tradition (BMS ep. 26 and 28 and 31).Bob's doctoral dissertation, in which the second and third essays elaborate on the main elements of this episode.The Bob Murphy Show interview with Jeff Herbener.Bob's mises.org article summarizing Bohm-Bawerk's critique of the exploitation theory of interest (and in the article the are links early on to two other BB critiques).Help support the Bob Murphy Show.The audio production for this episode was provided by Podsworth Media.

Download the slides from this lecture at Mises.org/MU22_PPT_14. Recorded at the Mises Institute in Auburn, Alabama, on 26 July 2022.

Yaron Brook joins me for a discussion on Ayn Rand's philosophy of Objectivism where we discover how Reason has created progress, freedom, and the pursuit to a good life. This series will loosely follow Ayn Rand's written work "The Virtue of Selfishness."Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/ GUESTYaron's Twitter: https://twitter.com/yaronbrookYaron's Show: https://yaronbrookshow.com/The Virtue of Selfishness: http://ikesharpless.pbworks.com/f/AynRand-TheVirtueofSelfishness.pdf PODCASTPodcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1RSS Feed: https://feeds.simplecast.com/MLdpYXYITranscript: OUTLINE00:00:00 “What is Money?” Intro00:00:08 The Differences Between Intrinsic, Objective, and Subjective Values00:07:22 Objectivism and Similarities with Austrian Theory of Economics00:13:08 Distinguishing Humans as Conceptual From Perceptual00:17:13 Language and Time are Products of Conceptual Thinking00:22:10 Go Beyond Staying Alive to Living as Human Beings00:29:48 NYDIG00:30:56 Does Rand Accept Pursuing Self-Interest by Exploiting Another?00:35:44 Governments Should Have Limited Roles; Focus on Eliminating Violence00:41:14 How Do You Express Vigilance on Governments?00:44:19 The Free Market of Currency Without Centralized Intervention00:49:58 Good and Evil Exist Because Humans Have Reason and Can Ignore Reason00:57:50 Learning to Philosophize, Think, and Create01:05:20 Consider Philosophy: “Bitcoin Can't Win Unless it Has the Right Ideas”01:12:40 “What is Money?” OutroSOCIALBreedlove Twitter: https://twitter.com/Breedlove22WiM? Twitter: https://twitter.com/WhatisMoneyShowLinkedIn: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/TikTok: https://www.tiktok.com/@breedlove22?lang=enAll My Current Work: https://linktr.ee/breedlove22 WRITTEN WORKMedium: https://breedlove22.medium.com/Substack: https://breedlove22.substack.com/ WAYS TO CONTRIBUTEBitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Sats via Strike: https://strike.me/breedlove22Sats via Tippin.me: https://tippin.me/@Breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://venmo.com/code?user_id=1784359925317632528The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true RECOMMENDED BUSINESSESWorldclass Bitcoin Financial Services: https://nydig.com/Join Me At Bitcoin 2023, pre-order your tickets now: https://b.tc/conference/2023Automatic Recurring Bitcoin Buying: https://www.swanbitcoin.com/breedlove/Buy Bitcoin in a Tax-Advantaged Account: https://www.daim.io/robert-breedlove/Buy Your Dream Home without Selling Your Bitcoin with Ledn: https://ledn.io/en/?utm_source=breedlove&utm_medium=email+&utm_campaign=substack

Per and Joshua sit down to talk Austrian Theory, Entrepreneurship, and Oklahoma cuisine. Check Per out at https://perbylund.com and on Twitter at @PerBylund Join the patreon at https://patreon.com/breakthecyclejs Join Subscribestar at https://Subscribestar.com/breakthecyclejs Tips at https://paypal.me/JoshuaSmithChair2020 available on all of your favorite podcast apps. https://toplobsta.com for dope gear. https://lorenzotti.coffee for delicious Italian coffee thank you to Whiskey Grenade for the great jams. Support the stream: https://streamlabs.com/fightthedespots --- Support this podcast: https://anchor.fm/BreakTheCycle/support

Download the slides from this lecture at Mises.org/MU21_PPT_16. Recorded at the Mises Institute in Auburn, Alabama, on 20 July 2021.

Download the slides from this lecture at Mises.org/MU21_PPT_16. Recorded at the Mises Institute in Auburn, Alabama, on 20 July 2021.

David Howden is Chair of the Department of Business and Economics at Saint Louis University's Madrid campus. He earned his PhD under Jesus Huerta de Soto. Bob asks David about his experiences as a next generation Austrian economist, and in particular his work on financial markets. Mentioned in the Episode and Other Links of Interest: David Howden's https://www.slu.edu/madrid/academics/faculty/david-howden.php (academic page). Jesus Huerta de Soto's https://mises.org/library/money-bank-credit-and-economic-cycles (book on business cycles). Bob's https://mises.org/library/bursting-eugene-famas-bubble (critique of Fama on bubbles). Bob https://consultingbyrpm.com/blog/2013/01/learning-from-brad-delong-and-paul-krugman.html (explains his botched inflation prediction). Mark Spitznagel's the https://www.amazon.com/gp/product/B00D7P2K1W/ref=as_li_qf_asin_il_tl?ie=UTF8&tag=consultingbyr-20&creative=9325&linkCode=as2&creativeASIN=B00D7P2K1W&linkId=7aa9146e4524d75e441185c579caabed (Dao of Capital). Nassim Taleb's https://www.amazon.com/gp/product/081297381X/ref=as_li_qf_asin_il_tl?ie=UTF8&tag=consultingbyr-20&creative=9325&linkCode=as2&creativeASIN=081297381X&linkId=c119254698003e5bd5e0ce0693d0a845 (The Black Swan). #Commissions Earned (As an Amazon Associate I earn from qualifying purchases.) Bob's article on https://mises.org/library/social-function-call-and-put-options (social function of call and put options). Tyler Cowen https://conversationswithtyler.com/episodes/john-cochrane/ (interview of John Cochrane). http://bobmurphyshow.com/contribute (Help support) the Bob Murphy Show. The audio production for this episode was provided by http://podsworth.com/ (Podsworth Media).

In this episode we discuss the main ideas as well as the usefulness of Austrian economic theory and monetarism in understanding financial crises. Our guest is liberal economist, writer and member of The Mont Pellerin Society, Lars Peder Nordbakken, Hosted on Acast. See acast.com/privacy for more information.

Download the slides from this lecture at Mises.org/MU20_PPT_13. Recorded at the Mises Institute in Auburn, Alabama, on 14 July 2020.

Recorded at the Mises Institute in Auburn, Alabama, on 16 July 2019.

Recorded at the Mises Institute in Auburn, Alabama, on July 18, 2018.

Recorded at the Mises Institute in Auburn, Alabama, on 26 July 2017.ResourcesMurray Rothbard: Law, Property Rights, and Air PollutionRoy Cordato: Efficiency and Externalities in an Open-Ended Universe Roy Cordato: Toward an Austrian Theory of Environmental Economics (QJAE)Art Carden: What Should Austrian Economists Do? (QJAE)Edwin Dolan: The Austrian Paradigm in Environmental Economics: Theory and Practice (QJAE)Walter Block: Comment on Dolan on Austrian Economics and Environmentalism (QJAE)Walter Block: Free Market Environmentalism Bob Murphy: Economics of the Paris Agreement on Climate Change

Recorded at the Mises Institute in Auburn, Alabama, on 26 July 2017.

ECONOMICS 101 Murray Rothbard's Economics 101 series 7. Banking and the Business Cycle One of the most difficult things to understand about banking is how money is created out of thin air. Current commercial bank liabilities are immediate. The banks do not have the reserves to redeem all demand notes. Thus, banks are inherently insolvent. But, government has eliminated runs on banks. Banks are not allowed to fail when they are mismanaged. Central banks are sold to the public as restraining inflation, but central banking was created to allow inflation. The inflationary process generates the boom and bust business cycle. The Bank of England was a great racket. The public accepted new money that was created out of thin air. The King had given the Bank a monopoly on money creation. President Jackson tried to get rid of the US central banks. Banks created the Federal Reserve System in 1913. The Fed banks now have a monopoly on all paper money. By legal tender law, one must accept Federal Reserve Notes. The Federal Reserve manipulates the money supply by manipulating the Federal reserves. The Central Bank is a lender of last resort. Every bank will be bailed out. Economists were mainly concerned about the crashes, not the booms, of business cycles. Mises understood that the banks were inherently inflationary. He understood that the expanded money supply was going to commercial banks to loan to longer-term production projects like construction. This credit expansion was not based upon consumers having saved anything. The boom was a bad distortion. It promoted malinvestment. The crash was inevitable and a good thing. Austrians would stop inflating. Austrians during the crash would keep government hands off. 1920 was a great example of this Austrian Theory of the Business Cycle at work. The seventh of eight sessions from Murray Rothbard's Economics 101 series. A collection of eight speeches and lectures by Murray N. Rothbard, spanning from the 1970s to the early 1990s. He is speaking in a small classroom setting, explaining economics from the ground up, and systematically in the manner of a classic 101 course on the topic—but with a revolutionary approach. This lecture on YouTube: https://youtu.be/DnJRnJU9WNU Sourced from: https://mises.org/library/economics-101 We are not endorsed or affiliated with the above. https://creativecommons.org/licenses/by-nc-nd/3.0/legalcode Presented by Read Rothbard: Read Rothbard is comprised of a small group of voluntaryists who are fans of Murray N. Rothbard. We curate content on the www.ReadRothbard.com site including books, lectures, articles, speeches, and we make a weekly podcast based on his free-market approach to economics. Our focus is on education and how advancement in technology improves the living standards of the average person. The Read Rothbard Podcast is all about Maximum Freedom. We look at movies and current events from a Rothbardian Anarchist perspective. If it's voluntary, we're cool with it. If it's not, then it violated the Non-Aggression Principle and Property Rights - the core tenants of Libertarian Theory - and hence - human freedom. Website: http://www.ReadRothbard.com iTunes: https://itunes.apple.com/us/podcast/the-read-rothbard-podcast/id1166745868 Google Play Music: https://play.google.com/music/m/Ii45fhytlsiwkw6cbgzbxi6ahmi?t=The_Read_Rothbard_Podcast Facebook: http://www.facebook.com/readrothbardclub Flickr: https://www.flickr.com/gp/145447582@N05/xB4583 Patreon: https://www.patreon.com/ReadRothbard Murray Rothbard, Murray N Rothbard, Read Rothbard, Anarchy, Anarchism, Free-Market, Anarcho-Capitalism, News and Events, Podcast, Laissez-Faire, Voluntaryist, Voluntaryism, Non-Aggression Principle, NAP, Libertarian, Libertarianism, Economics, Austrian Economics, Austrian Economics Overview, Capital and Interest Theory, Prices, Value and Exchange, Economics 101, Microeconomics, Supply and Demand,

Recorded at the Mises Institute in Auburn, Alabama, on 27 July 2016.

Mercatus Center Academic & Student Programs recently hosted the 2016 Advanced Austrian Seminar at which Dr. Israel M. Kirzner, Professor Emeritus of Economics at New York University, delivered the keynote lecture, “The History and Importance of the Austrian Theory of the Market Process.” In this talk, Professor Kirzner examines the history of thought in Austrian economics, specifically focusing on the developments in the 20th century, to develop a link between the Austrian theory of the market process and the notion of subjectivism as the central idea in Austrian economics.

Jason Burack of Wall St for Main St had on returning guest Austrian School Economist and author, Robert Murphy http://consultingbyrpm.com/blogRobert's bio and his Mises articles can be found here: https://mises.org/profile/robert-p-mu...Robert hosts the popular Contra Krugman podcast with Tom Woods that debunks each of Paul Krugman of the NY Times' articles: http://contrakrugman.com/Robert's many popular Austrian School of Economics books can be found here: http://www.amazon.com/Robert-P.-Murph...During this 35+ minute interview, Jason starts by asking Robert about the long term consequences to the interventionist policy of the Keynesian central planners. Robert talks about the Austrian Theory of the Business Cycle and how while the bust has been delayed, it has also been made much larger. Jason and Robert discuss Keynesian Economics and why Keynesian Economics won't die. Robert thinks the people in power love it because it gives them the justification to do what they already wanted to do. Next, Jason asks Robert if he sees parallels to the US now and prior to the 1929 stock market crash and ensuing Great Depression since he wrote a book about the Great Depression of 1929 and the New Deal. Robert says the 2008 crash resembled the 1929 crash and the roaring 20s were similar to the housing bubble of the 2000s prior to the 2008 crash. Robert then talks about how the history books have Herbert Hoover incorrect labeled as a proponent of the free market when in fact he was a massive interventionist. To wrap up the interview, Jason and Robert talk about how Wall St and Keynesians don't count asset price inflation as inflation while Austrians do and why Keynesians hate saving and deflation so much.

TAGS Austrian Economics OverviewThe Austrian Theory in PerspectiveJULY 15, 2008Roger W. GarrisonThis audio essay, narrated by Gennady Stolyarov II, is the Introduction to The Austrian Theory of the Trade Cycle and Other Essays (pp. 7-24) edited by Richard M. Ebeling.READ MORETAGS Austrian Economics OverviewBusiness CyclesThe "Austrian" Theory of the Trade CycleJULY 15, 2008Ludwig von MisesThe monetary explanation of the trade cycle is not entirely new. "The 'Austrian' Theory of the Trade Cycle," by Ludwig von Mises, is narrated by Gennady Stolyarov II...READ MORETAGS Austrian Economics OverviewBusiness CyclesMoney and BankingMoney and the Business CycleJULY 15, 2008Gottfried HaberlerThis audio essay, read by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp. 37-64) edited by Richard M. Ebeling.READ MORETAGS Austrian Economics OverviewBusiness CyclesInterventionismEconomic Depressions: Their Cause and CureJULY 17, 2008Murray N. RothbardMurray Rothbard was the master of reducing complicated theories to their very essence while retaining theoretical rigor, and this essay on Austrian business cycle theory is a case in point. Its continued relevance speaks to an aspect of the Austrian theory that other theories can't boast. It is...READ MORETAGS Austrian Economics OverviewInterventionismMonetary TheoryCan We Still Avoid Inflation?JULY 18, 2008Friedrich A. HayekThis audio essay, narrated by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp. 93-110) edited by Richard M. Ebeling.READ MORETAGS Austrian Economics OverviewBusiness CyclesThe Austrian Theory: A SummaryJULY 18, 2008Roger W. GarrisonThis audio essay, narrated by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp. 111-120) edited by Richard M. Ebeling.READ MORE Download audio file

TAGS Austrian Economics OverviewThe Austrian Theory in PerspectiveJULY 15, 2008Roger W. GarrisonThis audio essay, narrated by Gennady Stolyarov II, is the Introduction to The Austrian Theory of the Trade Cycle and Other Essays (pp. 7-24) edited by Richard M. Ebeling.READ MORETAGS Austrian Economics OverviewBusiness CyclesThe "Austrian" Theory of the Trade CycleJULY 15, 2008Ludwig von MisesThe monetary explanation of the trade cycle is not entirely new. "The 'Austrian' Theory of the Trade Cycle," by Ludwig von Mises, is narrated by Gennady Stolyarov II...READ MORETAGS Austrian Economics OverviewBusiness CyclesMoney and BankingMoney and the Business CycleJULY 15, 2008Gottfried HaberlerThis audio essay, read by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp. 37-64) edited by Richard M. Ebeling.READ MORETAGS Austrian Economics OverviewBusiness CyclesInterventionismEconomic Depressions: Their Cause and CureJULY 17, 2008Murray N. RothbardMurray Rothbard was the master of reducing complicated theories to their very essence while retaining theoretical rigor, and this essay on Austrian business cycle theory is a case in point. Its continued relevance speaks to an aspect of the Austrian theory that other theories can't boast. It is...READ MORETAGS Austrian Economics OverviewInterventionismMonetary TheoryCan We Still Avoid Inflation?JULY 18, 2008Friedrich A. HayekThis audio essay, narrated by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp. 93-110) edited by Richard M. Ebeling.READ MORETAGS Austrian Economics OverviewBusiness CyclesThe Austrian Theory: A SummaryJULY 18, 2008Roger W. GarrisonThis audio essay, narrated by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp. 111-120) edited by Richard M. Ebeling.READ MORE Download audio file

Jonathan Newman covers "What Is a Business Cycle?", the Structure of Production, the Austrian Theory of the Business Cycle, and Depression. Suggested Reading: Murray Rothbard, 'America’s Great Depression', chap. 1, “The Positive Theory of the Cycle.” https://mises.org/library/americas-great-depression Mises Boot Camp is a one-day seminar for those seeking to learn the fundamentals of the Austrian school, whether you haven’t taken a single economics class or just want to fill gaps in your current knowledge. To download the Syllabus, visit http://mises.org/BC Recorded at the Mises Institute in Auburn, Alabama, on 25 July 2015.

Jonathan Newman covers "What Is a Business Cycle?", the Structure of Production, the Austrian Theory of the Business Cycle, and Depression. Suggested Reading: Murray Rothbard, 'America’s Great Depression', chap. 1, “The Positive Theory of the Cycle.” https://mises.org/library/americas-great-depression Mises Boot Camp is a one-day seminar for those seeking to learn the fundamentals of the Austrian school, whether you haven’t taken a single economics class or just want to fill gaps in your current knowledge. To download the Syllabus, visit http://mises.org/BC Recorded at the Mises Institute in Auburn, Alabama, on 25 July 2015.

Recorded at the Mises Institute in Auburn, Alabama, on 22 July 2015.

Noah Smith is Assistant Professor of Finance at Stony Brook University, New York where he is also a member of the Center for Behavioral Finance research team. Noah’s research Interests include Experimental Finance, Behavioral Finance and Macroeconomics. Noah was panel discussant for the Institute for New Economic Thinking Task Force and has received numerous research awards and fellowships. Noah is a regular contributor to Bloomberg View where he writes extensively on economics and finance related topics. He also writes at his fantastic economics blog Noahpinion. Noah received his PhD in economics from the University of Michigan, graduating in 2012. His dissertation examined expectation formation in financial markets.    Noah majored in physics as an undergraduate at Stanford University, and spent three years working in Japan, where he still returns from time to time to do research. Find out: whether economists suffer from ‘Physics Envy’. if we should remove mathematics from economics. how math took over economics. if there is a connection between economics and physics. how economics is becoming a more data-driven field. about the micro foundations to macro theory and why these models don’t work. why theory and math-focused economics papers are waning in the academic publishing field. how to approach teaching micro and macro when the theoretical models may not explain much. about whether Economics is moving away from the orthodox method of teaching toward a heterodox method. about the difference between Heterodox and Orthodox Teaching in Economics. why Noah considers Austrian Economics to be a bad joke. where Noah falls within the economic spectrum. why Noah believes that heterodox economics is not the future. Noah’s recommended economics blogs to follow. why the Efficient Market Hypothesis is a good starting model for finance students to understand. and much, much more. Check out the shownotes page and all the links, books and blogs mentioned in this episode at www.economicrockstar.com/noahsmith

Andrew Heaton is a comedian, writer and political satirist. He is the presenter of the witty and entertaining economics podcast, EconPop and has a Masters degree in International Politics. Andrew has been featured in a Bollywood movie, plays a lead role in the sitcom Cap South and has been voted best new comedian of 2013 in New York. Andrew hails from Oklahoma, is an Officer to a Prince and plays the Ukelele to enhance the mood of his friends’ amorous endeavors.     In this interview, Andrew mentions and discusses: wheat quotas, comparative advantage, protectionism, relative and actual growth, free markets and limited government, Austrian Theory of Monetary Creation, supply and demand, signalling, subjective value, negative externalities, tariffs and import duty, protectionism, corporation tax, scarce resources, population, abundance of resources, the Great Depression, US deficit, unintended consequences, behavioral economics and risk aversion.   Find Out: how Andrew became interested in economics while studying abroad in Scotland. what parallels Andrew draws between politics, economics and comedy. what economists and school of thought Andrew draws inspiration from to carve out his own views. where and from whom Andrew gets his inspiration for his anecdotal writings on economics concepts. how economic concepts is in abundance in life and can be found in the many movies we may have watched. what qualities Andrew believes makes a successful person. about Andrew being an Officer to Prince Leonard of Hutt River. what comparative advantage is and how Andrew explains it in an unusual but light-hearted way.   why Andrew believes we will never run out of resources and why we should not worry about scarcity. For more information on this podcast episode and others, please visit www.economicrockstar.com

Recorded at the Mises Institute in Auburn, Alabama, on 23 July 2014.

Archived from the live Mises.tv broadcast, this lecture was presented by Roger Garrison at the 2013 Mises University, hosted by the Mises Institute in Auburn, Alabama, on 24 July 2013.

From the session on "Macroeconomics: Theory, Policy, and Pedagogy," presented at the Austrian Economics Research Conference. Recorded 23 March 2013 at the Ludwig von Mises Institute in Auburn, Alabama.

From the session on "Austrian Theory and Method," presented at the Austrian Economics Research Conference. Recorded 23 March 2013 at the Ludwig von Mises Institute in Auburn, Alabama. Full title: "Catallactic Functions and Real Persons in 'Man, Economy, and State' and 'Human Action'. (Further) Elements for an Austrian Theory of the Firm"

From the session on "Austrian Theory and Method," presented at the Austrian Economics Research Conference. Recorded 23 March 2013 at the Ludwig von Mises Institute in Auburn, Alabama.

From the session on "Austrian Theory and Method," presented at the Austrian Economics Research Conference. Recorded 23 March 2013 at the Ludwig von Mises Institute in Auburn, Alabama.

Recorded at Mises University 2011. Includes an introduction by Mark Thornton.

Narrated by Paul Strikwerda. [8:59]

Recorded at Mises University 2010. Includes an introduction by Mark Thornton.

Recorded at Mises University 2009.

Simon Bilo presents A Note on the Austrian Theory of Foreign Exchange Rates. From the 2009 ASC Panel: Security and Foreign Policy.

This audio essay, narrated by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp. 93-110) edited by Richard M. Ebeling.

This audio essay, narrated by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp. 111-120) edited by Richard M. Ebeling.

Murray Rothbard was the master of reducing complicated theories to their very essence while retaining theoretical rigor, and this essay on Austrian business cycle theory is a case in point. Its continued relevance speaks to an aspect of the Austrian theory that other theories can't boast. It is a real theory that applies across time and place, and its persuasive power is not contingent on the particulars of any individual boom bust cycle. This audio essay, read by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp. 65-91) edited by Richard M. Ebeling.

This audio essay, read by Gennady Stolyarov II, is found in The Austrian Theory of the Trade Cycle and Other Essays (pp. 37-64) edited by Richard M. Ebeling.

This audio essay, narrated by Gennady Stolyarov II, is the Introduction to The Austrian Theory of the Trade Cycle and Other Essays (pp. 7-24) edited by Richard M. Ebeling.

The monetary explanation of the trade cycle is not entirely new. "The 'Austrian' Theory of the Trade Cycle," by Ludwig von Mises, is narrated by Gennady Stolyarov II, and is chapter 1 in The Austrian Theory of the Trade Cycle and Other Essays (pp. 25–35) edited by Richard M. Ebeling.

Recorded at Mises University 2007.

Recorded at Mises University 2005.

Recorded at Mises University 2004.

The 1920s had difficulties, but the depth of the Great Depression was in 1931. Any theory of boom-bust events must ask why so many entrepreneurs made terrible errors in a cluster. Why do busts hit capital goods industries harder than they do consumer goods industries? The explanatory factor that accounts for both of these empirical facts is this: higher order production is more sensitive to interest rates. Whether the rate is lowered by voluntary actions of private savings or whether it is lowered artificially by the Federal Reserve, businesses see rates coming down and they borrow more. The artificial, fed-generated boom misleads investors into directing resources into higher order goods. We can have more investment in the future by having less consumption in the present. But, the artificial signal encourages both more investment in the future and more consumption in the present, without any additional resources being made available. Furthermore, people's time preferences have not changed. Thus, resources are malinvested when the boom is based on artificial credit stimulation rather than on real private savings. This is the crux of the Austrian Theory of the Business Cycle. Hoover's policies and actions assured the deepening of the depression and were the platforms for most of FDR's New Deal disasters. Measures to prop up wages prevented any clearing of malinvestments. Subsidies and other special programs to farmers precluded normal market forces from shifting some resources out of agriculture, as should have happened. FDR was ignorant of economics. The National Industrial Recovery Act was seen as a “holy thing”. It was found to be unconstitutional. Lecture 5 of 10 from Thomas Woods' The Truth About American History: An Austro-Jeffersonian Perspective.

Recorded at the Mises Institute on 15 June 2005.

One of the most difficult things to understand about banking is how money is created out of thin air. Current commercial bank liabilities are immediate. The banks do not have the reserves to redeem all demand notes. Thus, banks are inherently insolvent. But, government has eliminated runs on banks. Banks are not allowed to fail when they are mismanaged.Central banks are sold to the public as restraining inflation, but central banking was created to allow inflation. The inflationary process generates the boom and bust business cycle.The Bank of England was a great racket. The public accepted new money that was created out of thin air. The King had given the Bank a monopoly on money creation. President Jackson tried to get rid of the US central banks. Banks created the Federal Reserve System in 1913. The Fed banks now have a monopoly on all paper money. By legal tender law, one must accept Federal Reserve Notes. The Federal Reserve manipulates the money supply by manipulating the Federal reserves. The Central Bank is a lender of last resort. Every bank will be bailed out.Economists were mainly concerned about the crashes, not the booms, of business cycles. Mises understood that the banks were inherently inflationary. He understood that the expanded money supply was going to commercial banks to loan to longer-term production projects like construction. This credit expansion was not based upon consumers having saved anything. The boom was a bad distortion. It promoted malinvestment. The crash was inevitable and a good thing. Austrians would stop inflating. Austrians during the crash would keep government hands off. 1920 was a great example of this Austrian Theory of the Business Cycle at work.The seventh of eight sessions from Murray Rothbard's Economics 101 series.

Recorded at Mises University 2005.