Business Cycle Theory (by Jörg Guido Hülsmann) - Introduction to Austrian Economics, 7of11

[lovelplants]

wow, lol. this introduction of economics explains more in theories.

[dvida001]

he killed it... plain and simple.

[tblach04]

I don't know about you, but I am writing in Ron Paul for president iand Peter Schiff for vice in 2012.

[BurnBeforeEating]

Why does this have only 1,341 views????????????

[mlndstream]

How could someone position themselves to live in a Socialist environment? any assets worth obtaining before hand, any skills worth learning etc?

[KraljevicPavle]

@mlndstream

Commit an indictable offence (you might say "felony" in the US), go to jail for a few years, and learn the differences between socialising with the guards and the prisoners, and how to do both effectively. That's basically socialism. Or at least imagine the best way of acting in jail, and that's how you should act in Communism.

[mlndstream]

@KraljevicPavle very insightful view, your probably very right. Reminds me of the movie 'Buffalo Soldiers'

[mlndstream]

@mlndstream Maybe learning to escape from prison would also be a handy set of skills to learn:)

[underdg22]

@KraljevicPavle Ever read One Day in the Life of Ivan Denisovich? The Gulag in that novel is a metaphor for socialist society at large.

[BurnBeforeEating]

@KraljevicPavle Murder rates are much higher in prison than the outside world.

[selfrealizedexile]

lol, curiously I like this guy's humor; seems like a very likable fellow with which to have a beer.

[AngeloNoel]

@selfrealizedexile hehe! me too... he's always saying something funny or just cool to break up the seriousness of his lectures. he seems be a very good professor and his book about Mises life and work it's very well written!

[mlndstream]

I believe world govt and a single world currency is coming,that will eventually become a digital'cashless'system using an RFID chip or ink technology(Nick Rockefeller told Aaron Russo this is their final goal,and is prophesied in the Bible to occur in the'end time's')put into the skin of everyone in society,and this sounds socialist to me,how would someone prepare financially for a transition to socialism?hyperinflation demands individuals obtain gold/silver,but how prepare for socialism?

[broeman]

@mlndstream The IMF already have a global currency ready, called the Special Drawing Rights. But I agree, that neo-keynesianism is based largely on a digital "printing press".

[NicosMind]

@mlndstream eah its a scary world. Truth is stanger than fiction.

But we do have hope. Austrian economics is spreading, people like Ron Paul are becoming far more popular, and we have kick ass groups like UKIP and the European for Freedom and Democracy group.

The internet is an enabler of knowledge. Spread it wide, and spread it far.

Vote Ron Paul,

Vote Peter Schiff

Vote UKIP

[Arjozof]

@NicosMind UKIP is proposing protectivist measures to "protect British jobs". I hope it is only a figure of speech to gather votes from troglodytes.

[NicosMind]

@Arjozof Although we do have people from all over the political spectrum the vast majority of them are libertarian and hold Libertarian views. In our new leadership campaign we even have people running who want to underline and highlight our libertarian views and lead the party with that. Though i doubt theyll win with Nigel Farage running for it too. Farage is a libertarian though blaming the housining booms in Spain, Ireland etc on low interest rates, plus the rest of his views ?v=STZGH9fInek

[chris3443]

Excellent lecture, thank you!

[patrikkorda]

59:05 - 59:30 Hülsmann calls the Housing Bubble, he also elaborates on it during the questions.