The Current Crisis in the Light of The Theory of Money and Credit
Symposium on the Centennial of ‘The Theory of Money and Credit’.
Symposium on the Centennial of ‘The Theory of Money and Credit’.
Originally published in Playboy in March 1969, this essay is narrated by Jeff Riggenbach. Music by Kevin MacLeod.
Presented to the Auburn University Economics Club; Auburn, Alabama, on 6 March 2012.
Sponsored by Furman Conservative Students for a Better Tomorrow, 25 February 2012 at Furman University; Greenville, SC.
Sponsored by Furman Conservative Students for a Better Tomorrow, 25 February 2012 at Furman University; Greenville, SC.
Entrepreneurs are the driving force behind the markets and prices that provide goods and services to consumers. Human action looks to the future. Entrepreneurs shoulder risks and, if they guess right, collect profits as rewards. If wrong, they lose.
Private property is the only foundational institution that society needs to build a civilization. The 99% had rotten lives until there was a revolution in ideas in the 1700s. Laissez-faire ideas changed the ideas of the 99%. The industrial revolution flowered.
Mainstream economics is fixated on market failure. The solution for mainstream economists is always heavy regulation. Capitalism permits global scale enterprises to thrive despite bureaucratic red tape.
Introduction to Bourbon for Breakfast: Living Outside the Statist Quo by Jeffrey A. Tucker. Narrated by Steven Ng.