8. Mises in One Lesson
8. Mises in One Lesson
Austrian economics has nothing to do with the economics of Austria. Austrian Economics (AE) began with Carl Menger in 18... Read more
1 Mar 2004
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1. Demand and Supply, Consumer Goods, Prices and Exchange
1. Demand and Supply, Consumer Goods, Prices and Exchange
Micro economics starts with the basic fact that each person has short term and long term goals, like buying a ham sandwi... Read more
1 Mar 2004
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2. Money and Prices
2. Money and Prices
Many believe that if governments would just issue greater quantities of money then all problems would be solved. In trut... Read more
1 Mar 2004
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7. Banking and the Business Cycle
7. Banking and the Business Cycle
One of the most difficult things to understand about banking is how money is created out of thin air. Current commercia... Read more
1 Mar 2004
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3. Capital, Interest, and Profit
3. Capital, Interest, and Profit
Profit is total revenue minus total costs. Ours is not just a profit system, it is a profit and loss system. Losses are ... Read more
1 Mar 2004
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6. Conservation and Property Rights
6. Conservation and Property Rights
Free markets shift resources from where they are less valued to where they are most valued, benefiting consumers. When p... Read more
1 Mar 2004
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4. Labor
4. Labor
Minimum wage laws force unemployment up. All of those with few skills looking for an entry position will be denied becau... Read more
1 Mar 2004
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5. Labor and Unions
5. Labor and Unions
Rothbard covers the principles of demand and supply curves. Prices are at the seat of the whole system. Use the logic of... Read more
1 Mar 2004
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