Austrian Economics Overview

Archived from the live Mises.tv broadcast, this lecture was presented by Tom Woods at the 2013 Mises University, hosted by the Mises Institute in A

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How can The Art of War help you think like an economist? Because resources are scarce we have to put the goods we do have to the best use. Sun Tzu understood that war is destruction and resources must be preserved. The only good war is one won without fighting.

Beggar thy neighbor policies are now called Quantitative Easing. Just like regular protectionism this currency war approach will lead to real wars.

Some responses to questions included: Trends in economics are dangerously negative. Keynesians are more unrealistic than ever. Mises says you only have two choices in coordinating resources: socialism or capitalism. Prohibition of drugs leads to violence and death.

May 24th, 2013 will remain in the annals of the Circle Bastiat as an infamous day of self-promotion.

The Journal of Prices & Markets, published by the Ludwig von Mises Institute of Canada, is a journal

The conclusion of Ohanian’s paper is quite—one is tempted to say “hardcore”—Rothbardian.