Austrian economics is economics without government bribes. We Need This NOW

Concise overview of Austrian economics. Must watch. 3 mins. (see first clip below)

I’ve gotten requests about Austrian economics, which is the model I use to understand the world. Since Austrian isn’t well known, I thought I’d sketch how it differs from mainstream economics. In short, Austrian economics is economics without government bribes. And it turns out once you take government bribes out, economics gives a very different model of the economy, one that puts liberty front and center. See clip below. Plus much more below on Austrian economics

I’ve gotten requests about Austrian economics, which is the model I use to understand the world.

Since Austrian isn’t well known, I thought I’d sketch how it differs from mainstream economics.

In short, Austrian economics is economics without government bribes. And it turns out… pic.twitter.com/fz5I7lOVtc

— Peter St Onge, Ph.D. (@profstonge) November 11, 2023

I talked to @saifedean about his new book, Principles of Economics, the best introduction to Austrian economics that I’ve read.

We discussed the idea of scarcity, the only real restriction to production being human time, the reason why human action is so important and the… pic.twitter.com/TOwKUtgGPa

— Jimmy Song (송재준) (@jimmysong) November 9, 2023

Companion to Today’s Video: What is Austrian Economics? “Starting in the 1800’s the field of economics was co-opted by governments — starting with Prussia. They saw economics as a useful propagandist who could help take over the economy and turn out fantastic profits to bankers, industrialists, and anybody else with a nice lobbying budget.” “Economists became what Murray Rothbard called the “intellectual bodyguard” of the regime. Or, as James Buchanan put it, “camp following whores.” – Peter St. Onge
I talked to @saifedean about his new book, Principles of Economics, the best introduction to Austrian economics that I’ve read. We discussed the idea of scarcity, the only real restriction to production being human time, the reason why human action is so important and the ridiculousness of simplifying human beings so they are assumed to act the same. We also talked about the reason why energy is such an important part of economic life and how unemployment is really a fiat phenomenon. (Video is above)
How Austrian Economics Impacted the Life of Joseph Salerno Professor Joseph T. Salerno tells his personal story of how he discovered Austrian economics and how he has become one of its leading proponents – Mises (See vid below)
So just as studying physics makes you believe in gravity, studying Austrian economics makes you believe in liberty.’ – Roy Martin

Professor Joseph T. Salerno tells his personal story of how he discovered Austrian economics and how he has become one of the its leading proponents. Joe is Academic Vice President of The Mises Institute and editor of The Quarterly Journal of Austrian Economics. The lecture was part of FFF’s Fall 2023 online conference “How Austrian Economics Impacted My Life.”

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