Fundamentals of Economic Analysis: A Causal-Realist Approach

1. Scarcity, Choice, and Value

오스트리안 경제학철학과 방법론가치와 교환

06/11/2007Audio/Video
The causal-realist approach began with Menger who based all of his observations upon reality that was intimately tied to the price system. Humans ceaselessly seek to remove unease. They consciously use means to attain their ends. Scarcity implies desirability and limitation.
한글 미제스와이어 전체보기

2. Exchange and Demand

오스트리안 경제학화폐이론철학과 방법론생산 이론

06/12/2007Audio/Video
All action is really exchange. What the actor prefers less is exchanged for something he prefers more, including gift giving. It is a fallacy to say that the goods exchanged have equal value.
한글 미제스와이어 전체보기

3. The Determination of Prices

오스트리안 경제학자본⦁이자 이론가격

06/12/2007Audio/Video
What determines market prices? Buyers and sellers must know of feasible trades. They can learn from their mistakes. They prefer higher profits to lower profits. They think in discreet terms. Both participants win in market exchanges.
한글 미제스와이어 전체보기

4. Price Controls: Case Studies

오스트리안 경제학간섭주의가격

06/13/2007Audio/Video
As with all government intervention, price controls do not achieve what their originators think they will. Trying to maintain a supply of milk by putting a price control on it will cause shortages, which are the very situations the price manipulators said they wanted to avoid.
한글 미제스와이어 전체보기

5. Pricing of the Factors of Production and the Labor Market

오스트리안 경제학가격생산 이론

06/13/2007Audio/Video
Factors of Production are economic goods: scarce means used to achieve an individual’s ends. They are land, labor and capital. Each is examined. Incomes are earned by factor owners as production takes place. There is no separated production and distribution.
한글 미제스와이어 전체보기

6. Profit, Loss and the Entrepreneur

기업가오스트리안 경제학기업가정신

06/14/2007Audio/Video
Causal-realist analysis allows imaginary constructs like the ERE- Evenly Rotating Economy- in order to isolate certain factors like interest. There would be no profit or loss in the ERE, because those can only exist under conditions of uncertainty.
한글 미제스와이어 전체보기

7. Capital, Interest and the Structure of Production

오스트리안 경제학자본⦁이자 이론생산 이론

06/14/2007Audio/Video
Time preference says that individuals prefer satisfaction now to later, present to future. This explains the loan market. In the structure of production, the capitalist pays wages now, despite the fact that he himself does not get paid until the final stage when the product actually comes to market.
한글 미제스와이어 전체보기

8. Competition and Monopoly

오스트리안 경제학독점과 경쟁

06/15/2007Audio/Video
Competition can mean rivalry or freedom. All firms must serve the preferences of consumers in order to exist. Monopoly has historically been an artificial privilege granted by the state.
한글 미제스와이어 전체보기

9. Money and Prices

화폐와 은행오스트리안 경제학철학과 방법론가격

06/15/2007Audio/Video
In the history of money, bartering was awkward because wants were not divisible. Direct exchange depended upon a double coincidence of wants. Demand for a medium of exchange grew until a general medium of exchange emerged, like gold and silver.
한글 미제스와이어 전체보기

10. Banking and the Business Cycle

화폐와 은행경기변동화폐와 금융

06/16/2007Audio/Video
We have today a hybrid of two forms of banking – loan banking (non-inflationary) and deposit banking (inflationary if not 100% reserve holdings). The cause of booms is the credit expansion by central banks that is not backed by pools of private savings.
한글 미제스와이어 전체보기
Shield icon audio