20th Century American Economic History 8. The Future of Libertarianism Lecture by Murray N. Rothbard Rothbard explains why he is optimistic. The norm of civilization has been despotism and statism. The quantum quality change in history has been the Industrial Revolution from mid-18th Century to mid-19th. Only the free market, libertarian society can expand this viable and moral industrialism. A society without a ruling class results. Peace and a classless society are classical liberal goals. Som...
May 01, 2017•1 hr 24 min
20th Century American Economic History 7. The New Deal and the Post War International Monetary System Lecture by Murray N. Rothbard The World Economic Conference of 1933 in London met to deal with America's Great Depression, but, without consulting anyone, FDR declared that the U.S. would not agree to the proposal because he wanted to take the U.S. off the gold standard in order to inflate the dollar. The gold-supporting British and French were horrified; Nazi Germany was delighted. Hitler loved...
Apr 23, 2017•1 hr 25 min
20th Century American Economic History 6. The Inflationary Boom of the 1920s (continued) Lecture by Murray N. Rothbard Republican policy has always been high tariffs, keeping foreign goods out. But, then the US would lend those countries money to be able to pay for our higher-priced exports. This peculiar foreign-lending scheme included farm goods. Until 1928 there was an enormous foreign lending boom. The stock market collapsed in October 1929. The Federal Reserve Act of 1913 was for inflationa...
Apr 17, 2017•1 hr 4 min
20th Century American Economic History 5 . The Inflationary Boom of the 1920s Lecture by Murray N. Rothbard The Industrial Revolution and the development of the modern banking system were the two big things that happened in the Eighteenth Century in Britain. Why does the boom-bust cycle emerge? Is the cycle just a natural part of industry, or is it caused by the banking system? The Austrian explanation of expanded bank credit not based upon private pools of savings is sound, unlike the Keynesian...
Apr 09, 2017•1 hr 7 min
20th Century American Economic History 4. The Progressive Era Triple Alliance: Government as Cartelizer continued Lecture by Murray N. Rothbard The state must invest in human beings the same way you invest in cattle on a farm. This progressive corporatist view was behind the creation of the Rockefeller Foundation. Industrial solutions were to be strictly scientific, e.g. minimum wage laws, public works, and government concentration camps (CCC). The Federal Reserve system followed the national ba...
Apr 03, 2017•1 hr 6 min
20th Century American Economic History 3. The Progressive Era Triple Alliance: Government as Cartelizer Lecture by Murray N. Rothbard The progressive period birthed the cancerous growth of the welfare/warfare state, fake capitalism, the middle way, neomercantilism, and the corporate state. Morgan and Rockefeller men warred with each other over many issues and many generations. Effective competition was attacked as government attempted to cartellize business. 3 of 8 from Murray Rothbard's 20th Ce...
Mar 27, 2017•1 hr 28 min
20th Century American Economic History 2. The Rise of Big Business: The Failure of Trusts and Cartels continued Lecture by Murray N. Rothbard Despite the drive for monopoly, only oil, sugar and corn products ended up dominated by a particular company. Bigger was not better. Biggest was not best. Smaller and more mobile was more competitive. Major inventions are still coming from small firms. 2 of 8 from Murray Rothbard's 20th Century American Economic History lecture series. Sourced from: https:...
Mar 20, 2017•51 min
20th Century American Economic History 1. The Rise of Big Business: The Failure of Trusts and Cartels Lecture by Murray N. Rothbard In the 19th Century and the beginning of the 20th, the rise of big business on the free market could not create monopolies and cartels. Only government could do that. Government tried. Government failed. 1 of 8 from Murray Rothbard's 20th Century American Economic History lecture series. Sourced from: https://mises.org/library/20th-century-american-economic-history ...
Mar 13, 2017•57 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 13. Politics and the Power Elite Lecture by Murray N. Rothbard With WWII, Morgans get their war in Europe; Rockefellers get their war in Asia. Both sides are happy. Rockefellers take over foreign relations and create the Trilateral Commission, while electing Carter President in 1977. Coolidge had an entire Morgan cabinet. More Morgan men under Roosevelt. Central banks were set up in each country. Deliberate inflation prevent...
Feb 18, 2017•52 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 12. The Great Cooperation Lecture by Murray N. Rothbard Public housing, planned cities, government power plants, and coerced unionism were all part of the great cooperation between corporations and government through WWI and WWII. Milton Friedman proposed the withholding tax in WWII. Statistics came into being. Cartels were created to manage many industries, e.g. railroads and food. Unions were pro-war forces. Fascism was co...
Feb 16, 2017•1 hr 29 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 11. Woodrow Wilson and World War I Lecture by Murray N. Rothbard Where did Benjamin Strong - head of the Fed - come from? Rothbard continues to reveal the individuals who shaped our world and wars. Morgan's empire brought us the irrational and useless WWI. Foreign policy today rests upon this Morgan outlook. The Versailles Treaty was a harsh thoughtless division of lands and economies. Many powerful politicians get their sta...
Feb 14, 2017•1 hr 28 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 10. Cartelization of Banking: The Fed Lecture by Murray N. Rothbard Bernard Baruch ran WWI as an absolute collectivist controller. The Federal Reserve was created in 1913 by Morgan men to cartelize the banking system and limit competition. Production and prices were regulated via the corporate state. Morgan men wrote the FTC- Federal Trade Commission Act. Progressive means statist and corporatist. The New Republic, a proto f...
Feb 11, 2017•1 hr 28 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 9. The Progressive Era? Lecture by Murray N. Rothbard Progressive movement came in in 1900 to eliminate political parties. Technocrats and bureaucrats take over political power. Rural versus urban. Eliminate mayors, eliminate voting altogether, have appointed bureaucrats only. Nationalize public school system so costs could be socialized, like getting the public schools to teach Spanish. Children can all be part of a collect...
Feb 09, 2017•1 hr 28 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 8. Regulation and Public Utilities Lecture by Murray N. Rothbard State dominated cartels used intellectuals as apologists for the government. Big unionism was to transmit orders to the working class. Public utilities were government monopolies for fifty year terms, run without any checks by the public. It is the function of government to run everything. Regulation was rampant, e.g. prohibition. Social workers wanted to aboli...
Feb 07, 2017•2 hr 1 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 7. Theodore Roosevelt: Master Reformer Lecture by Murray N. Rothbard Assassinations in American are only by lone nuts. No one who benefits is ever suspected, like Lyndon Johnson. The progressive period saw a re-alliance of church and state - secularized extreme Pietism (Protestant sects) with government as savior by intervening in markets. Meat packing regulations and the Sugar Trust under Teddy Roosevelt, passed in June 190...
Feb 04, 2017•1 hr 3 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 6. Tariffs, Inflation, Anti-Trust and Cartels Lecture by Murray N. Rothbard The Sherman Act outlawed restraint of trade. The Clayton Act added to that. Anti-Trust hysteria came in the 1940-50s. Whatever you did would be considered monopolistic. The charges didn't come from consumers, they came from whining competitors. It was government-enforced blackmail. The US leather industry was put out of business. The corn starch indu...
Feb 02, 2017•1 hr 48 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 5. Pietism and the Power Brokers Lecture by Murray N. Rothbard When pietists shift to the Republican party, they form the progressive movement of 1900-1920. Rockefeller- McKinley forms alliances with power brokers like Kuhn, Loeb & Co., and Harriman (versus the Morgans). Teddy Roosevelt (Oyster Bay wing of the family) was financially in with the Morgans. The Panama Canal caper included a fake revolution in Panama in orde...
Jan 31, 2017•2 hr 13 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 4. The Rise and Fall of Monopolies Lecture by Murray N. Rothbard Petroleum entered the industrial scene in 1859 with John D. Rockefeller's hard work. As the first manufacturing corporation, Standard Oil created a monopoly in kerosene refining by buying others out. A huge drop in the price of fuel followed, benefiting consumers, due to production efficiencies. Rothbard, then, discusses pietists, prohibitionists and the big po...
Jan 28, 2017•2 hr 4 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 3. The Decline of Laissez-Faire Lecture by Murray N. Rothbard Economics is a constant fight between the market and the government. The railroad cartel did not work against the free market even with ideal conditions. Airlines were tightly regulated until the small airlines began to compete in quality. Deregulation followed. Cleveland deviated from laissez-faire because of Morgan interests. After the Civil War, manufacturing t...
Jan 26, 2017•2 hr 4 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 2. The Railroading of the American People Lecture by Murray N. Rothbard The railroads experienced both enormous growth and enormous government intervention. Land was closed off from settlement, causing farmers to oppose the privileged railroads. Markets were skewed. Waste and inefficiencies were high. Graft and corruption were rampant. Only the Great Northern by James Hill was built with private monies. It became the of the ...
Jan 24, 2017•1 hr 33 min
The American Economy and the End of Laissez-Faire: 1870 to World War II 1. The Civil War and Its Legacy Lecture by Murray N. Rothbard How does government intervene in the economy? What are the consequences? What are the motivations behind passing these interventions? The lives of the people involved explain why they do these things. Rothbard delves into the religious views of the leaders in American history to understand motivations. Schools, drink, and Sabbath laws were the focus of Yankees in ...
Jan 21, 2017•1 hr 55 min
Murray Rothbard died before he could write the third volume of his famous History of Economic Thought, which would cover the birth and development of the Austrian School, through the Keynesian Revolution and Chicago School. With this six-lecture course, however, the History of Economic Thought is complete. 6. Hayek and His Lamentable Contemporaries The Nobel award to F.A. Hayek in 1974 went directly against the tradition of that prize to go only to mathematical forecasters, left-liberals, and go...
Jan 19, 2017•1 hr 8 min
Murray Rothbard died before he could write the third volume of his famous History of Economic Thought, which would cover the birth and development of the Austrian School, through the Keynesian Revolution and Chicago School. With this six-lecture course, however, the History of Economic Thought is complete. 5. Mises and Austrian Economics The essence of Austrian economics is based on the analysis of individual action. In other words, it is about individuals doing things, having purposes and goals...
Jan 17, 2017•57 min
Murray Rothbard died before he could write the third volume of his famous History of Economic Thought, which would cover the birth and development of the Austrian School, through the Keynesian Revolution and Chicago School. With this six-lecture course, however, the History of Economic Thought is complete. 4. Menger and Böhm-Bawerk Carl Menger, 1840-1921, founded Austrian economics. Eugen von Bohm-Bawerk was the most important student. Weiser was his brother-in-law, but was fairly pre-Keynesian....
Jan 14, 2017•1 hr 12 min
Murray Rothbard died before he could write the third volume of his famous History of Economic Thought, which would cover the birth and development of the Austrian School, through the Keynesian Revolution and Chicago School. With this six-lecture course, however, the History of Economic Thought is complete. 3. The Pre Austrians Richard Cantillon was quite Misesian before Mises. He wrote of utility theory and the entrepreneur’s uncertainty in the 1970s. Cantillon was a great money practitioner. He...
Jan 12, 2017•1 hr 12 min
Murray Rothbard died before he could write the third volume of his famous History of Economic Thought, which would cover the birth and development of the Austrian School, through the Keynesian Revolution and Chicago School. With this six-lecture course, however, the History of Economic Thought is complete. 2. The Emergence of Communism The roots of Marxism were in messianic communism. Marx’s devotion to communism was his crucial point. Violent, worldwide revolution, in Marx’s version made by the...
Jan 10, 2017•1 hr 12 min
Murray Rothbard died before he could write the third volume of his famous History of Economic Thought, which would cover the birth and development of the Austrian School, through the Keynesian Revolution and Chicago School. With this six-lecture course, however, the History of Economic Thought is complete. 1. Ideology and Theories of History History is not an inevitable march upward, as concluded in the 1830s. That determinist view put the stamp of approval on everything past and present. It per...
Jan 07, 2017•1 hr 7 min
INTRODUCTION TO MICROECONOMICS Presented by Murray N. Rothbard in 1986 at New York Polytechnic University. Recorded by Hans-Hermann Hoppe. 14. Intro to Micro: Interest Rates and Course Review The time market determines the pure rate of interest. Price per unit of time may be wages or rent. The interest income will be earned by the capitalist who has assumed the task of advancing present money. The capitalist then waits for five years until the product matures before recouping his money. Part 14 ...
Jan 05, 2017•1 hr 2 min
INTRODUCTION TO MICROECONOMICS Presented by Murray N. Rothbard in 1986 at New York Polytechnic University. Recorded by Hans-Hermann Hoppe. 13. Intro to Micro: The Labor Market Economists can say little about population and its size, despite the gloomy views of Malthus. More people are a good thing because of the division of labor. Living standards are higher when populations are higher. Living standards are higher when populations are denser. When people voluntarily reduce births, average popula...
Jan 04, 2017•34 min
INTRODUCTION TO MICROECONOMICS Presented by Murray N. Rothbard in 1986 at New York Polytechnic University. Recorded by Hans-Hermann Hoppe. (*Note - This episode was previously posted as: Episode 16 - Economics 101 - 5 of 8 - Labor and Unions - Murray N Rothbard) 12. Intro to Micro: Labor and Unions In order for anyone to make ethical judgments, he must know the consequences of his various actions. In questions of union actions displacement or unemployment for oneself or others will be considered...
Dec 29, 2016•1 hr 28 min
