Introduction to Economics: A Private Seminar with Murray N. Rothbard
by Murray N. Rothbard · 7 episodes
This informal seminar with Murray N. Rothbard was recorded in Toronto, Ontario, on 4 September 1983. Special thanks to Don Morrison for making these recordings available.Download the complete audio of this event (ZIP) here.
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Introduction to Economics: Part 1
Starting with Crusoe economics, Rothbard builds the economic concepts which can be developed by this analogy. These concepts are the axiom of human action. Among them are: man acts…
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Introduction to Economics: Part 2
Rothbard continues the Crusoe analogy. He covers subjectivity of value, and the concept of marginal utility.Part two of seven from Introduction to Economics: A Private Seminar with…
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Introduction to Economics: Part 3
Rothbard considers how prices are determined by supply and demand on the free market. All long shortages are caused by government interventions. Forecasting is not possible. Econom…
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Introduction to Economics: Part 4
Costs are always ex ante. There are no such things as social costs or social benefits. Costs are determined by how much entrepreneurs think consumers will pay. Costs are not determ…
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Introduction to Economics: Part 5
The entrepreneur is the major risk bearer. Business return on capital is long run profits or losses. Real rate of interest is determined by time preferences. Government contracts a…
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Introduction to Economics: Part 6
What causes business cycles? Keynesians say the cycles happen because the free market economy does not spend enough. Thus, pump spending in. Additionally, Keynesians say that anima…
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Introduction to Economics: Part 7
Deficits are equal to expenditures minus taxes. Reagan spoke of cutting government spending, but meant only cutting the rate of growth of government spending. Stagflation appeared…