Video

“We are not printing money” but one wonders where the $600 billion comes from.

I know nothing about the National Inflation Association, which made this video as a promotional, but this video is extremely compelling and effecti

The Gilded Age ushered in industrial leaders in capitalistic achievement. Success in the world of commerce reflected certain characteristics.

Profit and loss is the heart of business and economic change. Entrepreneurs drive the market at every level, predicting future wants and taking risks with their property. Earning profits is never guaranteed.

Deposit banking rests on the bank honoring property rights. Loan banking rests on making good loans that will pay off. But when loan banking and deposit banking merged, the temptation to loan out much more than was actually in the bank arose.

Austrian economists differ from mainstream economists mainly in this way: they do not rely on mathematical models, but on understanding what causes success or failure in the real world. Opportunity costs determine the choices people make.

Instead of each person doing all of the work creating what he needs and wants, dividing the labor amongst all of us into specialties is clearly superior by increasing the productivity of labor.

Recorded at the Mises Circle at Furman University on November 13th, 2010.

Recorded at the Mises Circle at Furman University on November 13th, 2010.

Recorded at the Mises Circle at Furman Universityon November 13th, 2010.