Austrian Economics Overview
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7. Pricing of the Factors of Production
Presented by Rothbard at New York Polytechnic University in 1972.
2. Supply and Demand
In this lecture in 1972, supply and demand concepts included: preferences of consumers, prices, quantity, quality, elasticity, equilibrium, marginal utility, present goods, and production processes.
3. Advertising
Advertising has always had bad press with economists, but consumers discover that a product either works and works well, or it doesn't. Consumer wants are not artificially created by business itself.
4. Price Controls
Price controls — triangular interventions — occur when an intervener (generally government) either compels a pair of people to make an exchange or prohibits them from making an exchange.
