Austrian Economics Overview

Leading Austrian Economists discuss Henry Hazlitt's classic book Economics in One Lesson. Interview 2 of 12.

Our reflections thus yield the conclusion that an alleviation of cyclical fluctuations should be expected preeminently from a greater publicity among business enterprises, and particularly among the banks.

We offer a brief look into the topics most discussed in these times, with extended treatments of each in the sidebar.

Markets find value the best. Government intervention destroys the price signals that markets require. Government cannot create money out of thin air. Time Will Run Back is a novel that begins in a socialist world where no one knows what the economy is doing because there are no prices. Socialism is unraveled.

The Fed is essentially a giant counterfeiting machine. That would be criminal for you, but is legal for JPMorgan's men under the Federal Reserve Act written by the big bankers.

Honest money and private property rights are the foundation for a peaceful society. The price system is what makes this work because it reflects the real availability of each scarce product and service, especially during emergency times.

The core issue is that there is nothing to restrain money creation.

From “Choice in Currency: A Path to Sound Money”; the Mises Circle in Vancouver. Recorded 13 September 2008.

Recorded at Mises University 2008.

Recorded at Mises University 2008.