Austrian Economics Overview

Murray Rothbard presented this speech in 1990 as the final lecture of the Mises University, in the days following the collapse of socialism.

Profit is total revenue minus total costs. Ours is not just a profit system, it is a profit and loss system. Losses are a sign that you wasted land, labor, or capital, yet those who make profits are criticized.

Recorded at Mises University 2001.

Alexandre Padilla talks about Rothbard on Agency Problems at the 2003 Austrian Scholars Conference.

Recorded at Mises University 2003.

Economic theory is essential for understanding history. It is difficult to interpret data without economic theory. Theory cannot come from data. All states are aggressive. All wars require economic resources. More liberal states will pursue more aggressive policies. The biggest bullies will get away with murder.

Boom, Bust, and the Future (44:40) January 18-19, 2002

Recorded at Mises University 2003.

Recorded at Mises University 2003.

Recorded at Mises University 2003.