Austrian Economics Overview

The Mises Circle in Manhattan; 22 May 2010, New York, New York. Includes closing remarks by Llewellyn H. Rockwell, Jr.

Featuring Joseph Calandro, Kevin Duffy, Marc Faber, Robert Murphy, Thorsten Polleit, Lew Rockwell and Frederick Sheehan. Emceed by Jeff Scott.

Recorded at The Mises Circle in Manhattan, on May 22nd, 2010. PPT 

Recorded at The Mises Circle in Manhattan, on May 22nd, 2010.

Mises is one of the greatest men who ever lived for his insights into what he called "human action."

A free market is just people making voluntary exchanges. Woods makes an example out of the creation of a ham sandwich. Welfare and warfare undermine the natural economic harmony of large scale social cooperation - the free market.

Sound money even sounds heavier than unsound money. Gold and silver originated on the market and reigned as the preferred money because the metals were easily portable, homogeneous, highly divisible, highly durable, and naturally scarce. Paper has none of those attributes.

Austrian economists do have a realistic way of looking at human action. A policy of getting further into debt when you are already deeply in debt just doesn't make sense to them.

"The conference on Austrian economics was planned as a catalyst for expanding interest in the praxeological approach. To this end, the conference must be declared a resounding success."