Tags U.S. HistoryAustrian Economics Overview
Understanding economics helps you see history better. American workers, although only lightly unionized, were more productive than others. All high standards of living are due to free markets. Governments destroy this.
The time required to work in order to earn enough to buy various goods and services has significantly declined through history. That is due to capitalism's increased productivity . There is a different story to robber barons than the false bad news. The Wild West was not. Chief Seattle's environmental speech was phony. Property rights were assigned to care for resources through incentives.
Presented by Thomas E. Woods, Jr. at the "Economics for High School Students" seminar. Recorded at the Mises Institute in Auburn, Alabama; 20 November 2009. Sponsored by Jeremy S. Davis.
Tom Woods, a senior fellow of the Mises Institute, is the author of a dozen books, most recently Real Dissent: A Libertarian Sets Fire to the Index Card of Allowable Opinion. Tom's articles have appeared in dozens of popular and scholarly periodicals, and his books have been translated into a dozen languages. Tom hosts the Tom Woods Show, a libertarian podcast that releases a new episode every weekday. With Bob Murphy, he co-hosts Contra Krugman, a weekly podcast that refutes Paul Krugman's New York Times column.
