Austrian Economics Overview

Presented by Rothbard at New York Polytechnic University in 1972.

Presented by Rothbard at New York Polytechnic University in 1972.

Presented by Rothbard at New York Polytechnic University in 1972.

Presented by Rothbard at New York Polytechnic University in 1972.

Presented by Rothbard at New York Polytechnic University in 1972.

In this lecture in 1972, supply and demand concepts included: preferences of consumers, prices, quantity, quality, elasticity, equilibrium, marginal utility, present goods, and production processes.

Advertising has always had bad press with economists, but consumers discover that a product either works and works well, or it doesn't. Consumer wants are not artificially created by business itself.

Price controls — triangular interventions — occur when an intervener (generally government) either compels a pair of people to make an exchange or prohibits them from making an exchange.

Recorded on 31 January 1981 at the University of Colorado, Boulder.

In order for anyone to make ethical judgments, he must know the consequences of his various actions. In questions of union actions displacement or unemployment for oneself or others will be considered unfortunate by most people.