In the same way, the path to economic recovery is to allow markets to channel specialized resources to their highest-valued uses, not to dump taxpayer funds on whatever firms and industries happen to be ready for them — or politically connected.
We must make them realize what they owe to the much vilified "economic freedom," the system of free enterprise and capitalism.
Time after weary time, it is the mainstream and Keynesian economists (who ridicule and ignore Austrian economics as unscientific) whose predictions are utterly refuted by the events of history.
Presented as part of the Mises Institute’s Brown Bag Seminar series on May 21, 1997 in Auburn, Alabama.
Although the dollar is no longer tied to gold, that will not stop the dollar price of gold from exploding when more investors realize that no one, not even a sharp guy like Ben Bernanke, ought to hold the fate of the world's economy in his hands.
Recorded at the Mises Circle in Houston, Sponsored by Jeremy S. Davis; Saturday, 24 January 2009.
What can be more Austrian than an investment strategy that is based entirely in the notion that the future is uncertain and accurately forecasting it is impossible?
What is required is purging the economy of various false activities that severely undermine its ability to generate real wealth.
Neoclassical economists, and specifically monetarists, have brought us here. Keynesian theory fell apart in the 1970s, and now monetarism has followed. The Austrian School is the only remaining source of credible analysis and sound economic policy.
Recorded at the Toronto Stock Exchange; September 16-17, 1999.
