Austrian Economics Overview

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.

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 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.

We want to train and motivate the leaders of the future.

Progressive, proportional and regressive taxes. Rothbard is relentlessly not in favor of taxes. The state robs both rich and poor.

The uniqueness of the Austrian approach to taxation is to first cover Public Policy, then Antimarket Ethics and finally Taxation. It is a praxeological development approach. Robbery and counterfeiting are the revenues to the state. You can't look at taxation alone, you must look at expenditures, too.

Price controls, product controls, compulsory cartels, licenses, standards, tariffs, child labor laws, conscription, minimum wage laws, subsidies, penalties, anti-trust, conservation laws, patents, public utilities, eminent domain, and bribery are among the many triangular interventions by government that distort markets and reduce benefits to con