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The Future of Austrian Economics

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This is the famous speech by Murray Rothbard given in the days following the collapse of the Soviet empire. His exuberance is palpable has he explains the meaning of it all for the place of liberty in the history of civilization. A brilliant scholar and passionate defender of Liberty, Professor Murray Rothbard (1926-1995) was dean of the Austrian School of economics, holder of the S.J. Hall Chair at the University of Nevada, Las Vegas, and Academic Vice President of the Ludwig von Mises Institute. The author of 17 books and thousands of articles, the foremost Misesian economist, the father of modern freedom theory, and the most delightful personality in the profession, this great teacher here spellbinds an audience of students, faculty, and business leaders in the "Future of Austrian Economics," at the 1990 Mises University at Stanford. Only Austrian economics, Rothbard shows, can explain the collapse of socialism/communism and tell us what should replace it: laissez-faire capitalism. There is a lesson here as well, he shows, for dealing with the Leviathan in Washington, D.C.

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: misesmedia

Length: 49:38
Rating: 4.74
Views: 23506

Tags: anarchy  Austrian  economics  freedom  libertarian  liberty  mises  rothbard  

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Video Comments

wreagfe (November 30, 1999 at 12:00 am)
If your reasoning entails (some sort of) a contraidction, check your premises. Hint: define perfection. I do not think anyone can give both a realistic and in human action founded definition. One that does not fit these criteria is Keynes': no scarcity.
AestheticizeAnalog (November 30, 1999 at 12:00 am)
Its a tie between him and Mises...
h0tpoop (November 30, 1999 at 12:00 am)
murray rothbard: greatest jew since jesus?
blakeada999 (November 30, 1999 at 12:00 am)
"Perfection is tied to a value judgment:subjective. There is no absolute perfection, unless you carefully define what that is-u may find that the world will always BE perfect, no matter what.This is why when the gov't "runs other people's lives-to any extent"-with a minimal perspective(from relatively few people),it cannot compare w/ the infinite perspective of the market:which contains the perspective of all players:people, stars, and earth).Just b/c u can't see it, doesn't mean it's not there.
Marly61 (November 30, 1999 at 12:00 am)
blake, I think you missed the point and if I put it in qoutations it would have been clearer. Anyway, that is not the point but it is relevant.
blakeada999 (November 30, 1999 at 12:00 am)
oh yeah: I forgot central banks & national currencies
blakeada999 (November 30, 1999 at 12:00 am)
Marly61: you don't really mean this is the free market? do you? Having the government involved in any business isn't free market--that obviously includes bailouts/subsidies/special tax credits/taxes/subsidized, regulatory agencies...
Marly61 (November 30, 1999 at 12:00 am)
Free M=an example of class warfare in action implemented by the elites regarding the illegal Bailout.Equity deals negotiated with banks represent $250 billion to inject capital in exchange for equity;to address the credit crunch to get banks lending again. The architects of that legislation, said that it violates the act if the money is going to bonuses, dividends, salaries, mergers. we know its going precisely to those purposes. It is going to bonuses, shareholders, it is not going to lending.
openyourmind678 (November 30, 1999 at 12:00 am)
im with you, there is no answer to a perfect society because there is a mechanism in the human mind that responds to over population by power curruption and greed and inevitably reduces the population. If everything were perfect for humans than there would be no resources and no room to stand, let alone live.
blakeada999 (November 30, 1999 at 12:00 am)
The enforcement of contracts could be subsidized by individual communities or provided by other credible agencies who uphold contracts: perhaps they coordinate with select credibility ratings providers or insurance companies. The benefit here (as opposed to gov't granted credibility), is that corrupt agencies will become less competitive--so it's in their best interest to remain credible.




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