The Life and Work of Ludwig von Mises | Jörg Guido Hülsmann

[SunnyDejaks564]

nun guckt mich an bin ein elch

[worldnewsbbc1]

The shooter in Arizona was an anarcho capitalist and a follower of Austrian school. He had a picture of Hayek on his bed room wall.

[tralalak4444]

@worldnewsbbc1 well and what does it said about austrian school or hayek? if i put picture of my wife on wall over my bed and go to rob a shop, does it mean that she is the biggest terrorist on the earth?

next time try to use a brain, ty.

[Heatherliberty]

Jorg is smokin hot. 

[AmericanValues321]

we must support our own..

PETER SCHIFF 2010!!!

[flynn2008]

@HyperBorealOperator

I felt bad for his mom.

[truevoice08]

Hulsmann is a brilliant! Ralph Raico has mentioned that Hulsmann's Biography of Mises serves as a third part to Rothbard's History of Economic Thought. Every competent (real) economist in the world right now would kill for their works to be considered at par with Murray Rothbard's. That's how brilliant this guy is!

[Nintendomanwill]

I don't understand why he surmised that the audience wouldn't have understood all that he said, it was pretty basic stuff which I knew fully well within days of buying the Theory of Money and Credit, & Socialism, by von Mises.

Who's with me? Was this lecture's theoretical content not entry level-stuff to laissez-faire, the origin of pricing in voluntary exchange and the problem thereof that is the calculation problem that arises when exchange is destroyed by Communism-basic stuff, no?

[Nintendomanwill]

The division of labour requires facilitation of exchange between those with goods that may well not be relevant to each others' ordinal subjective values, so as the division of labour extends to bring people into exchange with many whom they know not, unlike in atavistic village economies, and thus money is really called into being to allow cardinal value to arise from exchange. If this extended order of exchange does not exist then money is less needed, of course. So heterogeneity needs money.

[Nintendomanwill]

That exact chicken and egg query arose in a seminar I was in, regarding transition from gift exchange to indirect exchange.

Knowing that credit expansion cannot fertilise actual growth, I intuitively knew that there could not be a chicken or egg query; rather, money had to proliferate after extended division of labour called it into being in order to facilitate exchange with those whom one knows not, unlike in atavistic village economies. Cardinal values must arise from differing ordinal values

[opznkop]

interesting information, tanks!

few questions:

what is the relationship between money and labor? Because every good needs labor, so the amount of labor it needs is coherent to the prizing.

what are the problem of a profit based society? and didnt human society flourish because of cooperation between people and nations?

what happens if the production of money is loan based? and because of that the need fore money will always be bigger then the supply? and who can and will change this?

[sbuttgereit]

About labor and price: I create a company that makes hand crafted decorative horse manure balls. Each one requires $250 worth of labor. As a business man I will consider that in the price that I set, of say $399, but that might not be the price the public will pay.... even for a large ball of manure. So I now have a choice sell it at a price people will pay or never sell it at all. In reality, horse poo no matter how decorative probably has little market my $399 price no matter the labor.

[bdc03]

Thank God we still have Austrian economists like this around.

[delatroy]

theory is a great thing, but unless it filters down into reality then what does it matter?

[turkeyjurker]

unfortunately you are spot on.

[Individualism101]

Amen brother.

[1981ledzep]

@bdc03

austrians economics is our hope to end the live in the hamster wheel and go the way of economic rationality.

[Lamnont]

He sound's like one of my German teachers.