Austrian Economics Overview

The Fed is essentially a giant counterfeiting machine. That would be criminal for you, but is legal for JPMorgan's men under the Federal Reserve Act written by the big bankers.

Honest money and private property rights are the foundation for a peaceful society. The price system is what makes this work because it reflects the real availability of each scarce product and service, especially during emergency times.

The core issue is that there is nothing to restrain money creation.

From “Choice in Currency: A Path to Sound Money”; the Mises Circle in Vancouver. Recorded 13 September 2008.

Recorded at Mises University 2008.

Recorded at Mises University 2008.

We want to train and motivate the leaders of the future.

The uniqueness of the Austrian approach to taxation is to first cover Public Policy, then Antimarket Ethics and finally Taxation. It is a praxeological development approach. Robbery and counterfeiting are the revenues to the state. You can't look at taxation alone, you must look at expenditures, too.

Praxeology - economics - provides no ultimate ethical judgments: it simply furnishes the indispensable data necessary to make such judgments. Common criticisms of the free market are refuted praxeologically in this chapter. Absolute equality is an impossible goal.

Power & Market - this second section of Rothbard's book - shows the state was to be protector of the people and property, but the government is contradictory to that task. Government both taxes and demands a monopoly of defensive services within a geographical area.