Austrian School of Economics: Revisionist History and Contemporary Theory Podcast
1) 10. The Gold Standard in Theory and Myth
The mythology of gold really grew up with Keynes and the quantity theory. Here are six of those myths: the gold standard is unable to accommodate the needs of an growing economy; the quantity of money...Show More
2) 7. The Political Economy of the Chicago School: Libertarian or Jacobin?
The founder of the Chicago School, Frank Knight, was an avowed egalitarian. Rousseau was his influence. Jacobins believed in mass democracy and politics as the only way to implement their ideas. They ...Show More
3) 9. Money and Gold in the 1920s and 1930s: Defending the Rothbardian Position
Friedman’s book, Monetary History of the United States, tried to show the depression was caused by a deflation of the money supply by the Fed. Rothbard’s America’s Great Depression w...Show More
9. Money and Gold in the 1920s and 1930s: Defending the Rothbardian Position
0:00 | Jun 10th, 2005
4) 8. The Debate on the Socialist Calculation Debate
The debate still continues. It is all about Mises’ initial article and then book on Socialism in 1922. He demonstrated the necessity of the price system and showed how subjective values were tra...Show More
5) 6. Keynes and the 'New Economics' of Fascism
Monetary inflation is the key way to bring about economic fascism. Fascism was a spending, borrowing government, militarism, imperialism, and a planned economy. Keynes’ followers came to power i...Show More
6) 5. Modern Monetary Theory: The Austrian Contribution
Monetary theory is where Austrians diverge the most from mainstream. Mises built a new taxonomy of money. He said money included any checking account deposits. The marginal utility of gold on the last...Show More
7) 4. The Theory of Monopoly Price: From Menger to Rothbard
Prior to Mises there had been nothing written on the theory of monopoly price. Mises felt there could be some limited times of monopoly on the free market, e.g. diamond mines, but Rothbard felt that t...Show More
8) 2. The Origin and Decline of the Austrian School: Menger, Böhm-Bawerk, and Wieser
Where the classical economists had gone wrong was to speak of goods as if they were abstract classes. The Austrians noted that their value theory did not talk about concrete units and could not explai...Show More
9) 2. The Origin and Decline of the Austrian School: Menger, Böhm-Bawerk, and Wieser
Where the classical economists had gone wrong was to speak of goods as if they were abstract classes. The Austrians noted that their value theory did not talk about concrete units and could not explai...Show More
10) 3. The Revival of the Austrian School: Mises and Rothbard
There were reasons for the decline of the Austrian School before its revival and rebirth by Mises and Rothbard. There was an Israel Kirzner view in the 1970s that the Keynesian avalanche had buried Au...Show More