6. Materialism
From Theory and History, Part Two, “Determination and Materialism”. Narrated by John Pruden.
From Theory and History, Part Two, “Determination and Materialism”. Narrated by John Pruden.
The economist who knows no history understands far less than his opposite number in the historical profession; but his claims are far greater. Therefore, he is much wider off the mark.
Preface to Theory and History by Ludwig von Mises.
Narrated by John Pruden.
Money and wealth are distinct, and we should not assume that a fall in the stock indices necessarily means that "that money" has now been transferred someplace else.
People rebel against the insight that the malinvestment and overconsumption of the boom period are the cause of the bust.