Austrian Economics Overview
Mises University 2008
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Antimarket Ethics: A Praxeological Critique
Praxeology - economics - provides no ultimate ethical judgments: it simply furnishes the indispensable data necessary to make such judgments. Common criticisms of the free market are refuted praxeologically in this chapter. Absolute equality is an impossible goal.
Monopoly and Competition
Walter Block met Rothbard in 1966. Here, Block tells a joke making the point that antitrust law is dead from the neck up. There is nothing wrong with a monopoly price. Whatever price the free market establishes will be the best price.
Money and Its Purchasing Power
This completes the study of money and of the effects of changes in monetary relations on the economic system. Like all commodities, money has its own supply and demand and price: purchasing power. Everyone deals in money.
Production: Particular Factor Prices and Productive Incomes
The pricing, supplies, and incomes of particular factor prices - labor and land - and the effects of a changing economy upon them are discussed as Rothbard viewed them. The theory of rent is a highlight of this chapter. The Mengarian causal-realist tradition is integrated here.
Fundamentals of Intervention
Power & Market - this second section of Rothbard's book - shows the state was to be protector of the people and property, but the government is contradictory to that task. Government both taxes and demands a monopoly of defensive services within a geographical area.
The Supply of Money
How are money prices determined? The stock of the money commodity responds to demand and supply of the consumers and their preferences just as with any other good.
Binary Intervention: Taxation II
Progressive, proportional and regressive taxes. Rothbard is relentlessly not in favor of taxes. The state robs both rich and poor.