That video link is great. But I'm not convinced you can learn Austrian economics on videos alone. If you're like me, you need at least some reading materials and books to go along with the lectures.
Check out this 52-week home study course for Austrian economics, presented by the Mises Institute. I'm in the middle of this program right now actually.
http://mises.org/store/Mises-Institu...mics-P211.aspx
Bump for updated links and additional content in the original post.
It doesn't end with this election cycle. Commit to long term change, and you won't see all the GOP state convention shenanigans as the end of the Ron Paul Revolution--but as the end of the neocon control of the GOP, (and the beginning of the Ron Paul Revolution). Hang in there for another year or so, and you'll start to see some absolutely amazing results for all of our efforts. ~Ninja Homer
I just went to this seminar. If the lecture on capital structure is posted I'd recommend you all watch it. It's a very distinguishing part of Austrian economics that I think most amateurs who claim to be Austrians do not fully understand. It's essential for understanding Austrian business cycle theory as well.
Hi,Originally Posted by jtm845
Is this the sort of lecture to which you are referring:
Capital and Its Structure by Peter Lewin. (This is the 2008 version.)
It doesn't end with this election cycle. Commit to long term change, and you won't see all the GOP state convention shenanigans as the end of the Ron Paul Revolution--but as the end of the neocon control of the GOP, (and the beginning of the Ron Paul Revolution). Hang in there for another year or so, and you'll start to see some absolutely amazing results for all of our efforts. ~Ninja Homer
Take a look at this YouTube Video it should give you the basic Austrian principals.
YouTube - How an Economy Grows and Why It Doesn't (by Irwin Schiff)
My Phone use SmartPhone Wallpaper
It might help to compare this introduction with the introduction to a resource based economic model.
http://www.ronpaulforums.com/showthr...economic-model
Is there any chance you could do, or if anyone has already done, that? I tend to plug audio lectures books and essays into my mp3 player while I work. I consider my job school time, a great deal of the time.
Last edited by ahall12; 03-23-2011 at 06:30 AM.
Have you heard any lectures about how much the $4 trillion/day currency trading market provides so much productivity within societies?
http://www.ronpaulforums.com/showthr...=1#post3173340
The Rockefella organization funded the Austrians for vested-interest reasons. 100 years ago they distorted economics by excluding unique LAND merging it into CAPITAL, creating neo-classical economics which we go by today - and results in boom & busts and crash after crash!. I have read a lot of their wild mumblings and consider they are detached from the real world. Rothbard? Wow! He has no understanding of land and its resources. Austrian economics is a recipe for disaster.
Economist Fed Harrison....
The Queen Could not be Told the Truth
When the Queen of England visited the London School of Economics (LSE). She asked a simple question about the looming economic disaster, "why did no one notice it coming?". Professor Garicano replied, "at every stage everyone was relying on someone else, and all thought they were doing the right thing". As modern economists use a collection of mangled economics the Queen could not be told the truth.
Economists 100 Years Ago Colluded to Distort Economics
A century ago a group of influential economists: John Bates Clark, Frank Knight, Francis Walker, Edward Seligan and Richard Ely, colluded to manipulate the building blocks of classical economics. They had an ideological agenda. The future they shaped is our reality. Their mission was clear to protect the vital interests of the privileged few. To do so they had to conceal the unique qualities of the classical factors of production - LAND.
A century of economic disasters followed that literally messed with our lives. Economics has been a tool for contorting our collective consciousness. The current economic crisis as an example to the pathetic state to which economics has been reduced.
Modern Economist are Confused
We handsomely reward economists to fine tune to the economy to keep it stable. When boom turns to bust they escape into mysticism. They claim, "occasional slow downs are natural and necessary features of a market economy". The people we trust to keep the economy on an even keel have no idea what makes an economy explode. Take the central bankers, they pontificated, moving interest rates up and and manipulating the money supply. They didn't know what they were doing - it was all an illusion.
The problem lies in some of the theories invented by encomists. They do not reflect the real world. They are fictions invented to explain an imaginary market economy. When the economy overheats the imaginary equations turn out to be useless.
Economists Admit Their Economic Models Do Not Work
The Daddy of all central bankers was Alan Greenspan, of the US Federal Reserve. He said, "the models do not forecast recession because the parameters are dominated by what happens in normal times when the economy is growing".
As the economy crumbled, He said to the US congress, "I discovered a flaw in the model which I perceived as a critical function structure which defines how the world works, I was shocked". Greenspan's victims are more than shocked, they are traumatised losing their homes and jobs.
In failing to raise the warning flags, Greenspan was not alone, economists at the Bank of England also failed to forecast the end of the business cycle. They confessed their economic models break down when the going gets tough. Rachel Lomax, deputy governor of the Bank of England confessed, "When it comes to quantifying the changes in credit conditions, our workhorse economic models still cannot help us very much".
If you were caught by surprise when the bottom fell out of the credit market, don't worry, you were in good company. Leading economist at places like the LSE were also shocked. Professor Sir Charles Woodhart, served on the Bank of England monetary policy committee, he now admits that standard forecast economic models are "effectively pretty useless".
Here is an example of the nonsense that can be produced by economic theory. According to the British governments Property Valuation office in Jan 2008, land values will continue to rise until 2013. Six months later the economy had broken down. The graph has been erased from their web site.
Land Speculators Are the Biggest Gainers
Who gains from this intellectual mess? One groups of people reap spectacular rewards, property developers, land speculators all reap windfall gains from one asset that sustains us all, LAND.
In the good times when people go mad buying and selling properties, we lionise these developers. Yet all they doing is cashing in the on the land values others create. Take the case of a cluster of flats adjacent to a prime brownfields site. Their presence gives value to the adjacent site, yet the thousands of residents of the flats will not share in the increased values they help create.
Banks Fuelled The Property/Land Bubble
Bankers around the world played their part in the economic crisis pumping up credit to fuel the property bubble. As land values rose bankers even created more money. This was a self inflated bubble of hot air. It had to burst.
Economists Who Know The Answers Are Supressed
For the past century economist have messed with our minds. All is not lost. A few economists have been stewards of the precious knowledge of how the economy works. The Nobel prize winning economist Bill Vickry and the California professor, Mason Gaffney. All voices of reason that have been suppressed.
We Need To Force Through ChangeTo Eliminate Vested Interests
With all the global crisis's converging, mass unemployment, poverty, terrorism. It is time to make up our minds and stop playing the game that was rigged 100 years ago. If we do not challenge the vested interests that exploit people, all of us, the environment and future generations will pay the ultimate price. We have to oblige our elected leaders to deal with the realities on the ground.
In the end it is up to everyone to assume personal responsibility and restore common sense in the way we govern society.
Last edited by JohnLVT; 03-11-2012 at 10:52 AM.
I've found this webpage to be very useful and informative -
Economics in One Lesson
http://www.fee.org/library/books/eco...in-one-lesson/
Original Poster - please add this to the original post if you agree!
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