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Audio: Walter Block Explains Austrian Economics

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12/30/2013
This interview with Walter Block is a little old (May 2013), but we haven't linked to it before. Some highlights of the interview include:
  • Block contrasts Austrian economists as philosophers compared to "normative" economists which he characterizes as ethicists and empiricists.
  • He highlights praxeology, the study of human interactions, as a central tenet of the Austrian school.
  • He emphasizes that there are areas where libertarians and Austrian economists do not have overlapping thinking.
  • Block says there is inflation at present, just not in what the official statistics are measuring.  He mentions several classes of assets that have experienced (are experiencing) inflation.
  • In an extended discussion about unions, Block said there are justifiable activities for unions.  But he feels many unions (and specifically public sector unions) are "legal and ethical monstrosities".  He suggests they are "vicious, depraved and immoral" and "deny the right of free association".
(Radio Interview, approx. 35 minutes)

Peter G. Klein is Carl Menger Research Fellow of the Mises Institute and W. W. Caruth Chair and Professor of Entrepreneurship at Baylor University's Hankamer School of Business.

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