…the Austrian theory of the trade cycle reveals that only the inflationary bank credit expansion that enters the market through new business loans (or through purchase of business bonds) generates the over-investment in higher-order capital goods that leads to the boom-bust cycle.
Murray N. Rothbard
Economic Controversies, p. 737
0:00 – Rothbard Quote
0:51 – What is economics?
2:14 – What makes the Austrian School of economics unique?
3:14 – What is an accurate way of measuring wealth in a given society?
4:37 – Why are some countries poor and others wealthy?
7:16 – How can we increase access to products and services to those in lower income brackets while increasing quality – healthcare and housing?
13:20 – Why do Austrians oppose regulation?
15:46 – Do Austrians assume perfect knowledge?
18:04 – What about monopolies & cartels?
23:45 – Subjective value
24:54 – Labor Theory of Value
26:45 – Centrally planning – difference between corporations and governments
29:19 – Competitive currencies – Spontaneous order
31:44 – Spontaneous order in law
33:18 – Do disastrous situations justify the existence of a state?
35:17 – A Priori reasoning vs. Empirical evidence
38:30 – Real world examples
40:50 – Wealth vs. Dignity
42:54 – Why wages rise
46:04 – The “free” mindset
49:55 – Competition – the Austrian approach as a process
52:59 – Eugen von Bohm-Bawerk contributions
53:32 – Is employment and profit exploitation?
BitChute: https://www.bitchute.com/video/5zwlCqaNanmP/
Minds: https://www.minds.com/newsfeed/1137892451260100608?referrer=KeithKnightDontTreadOnAnyone
Archive: https://archive.org/details/austrian-economics-an-introduction.-steven-horowitz-and-keith-knight
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