Rare Recording of Ludwig von Mises: Wage Earners and Employers

[TheManiacalSatanist6]

Oh, and LOL at the communist links in my related bar.

[TheManiacalSatanist6]

Rothbard>Mises>Hazlitt>Friedma­n, without a doubt.

[muharemivlore]

Friedman>Hayek>Mises in my opinion.

[TheManiacalSatanist6]

@muharemivlore No way. Friedman is at the bottom of that list, without a doubt, because of his stance on Monetary issues.

[Mahacanda]

Its too bad we don't have more recordings, the man had a bad-ass German accent.

[TheApocalypseGirl]

An incredible man with unwavering devotion to the freedom of all people. His wife said after his death he could have been more successful if he had compromised more but he wouldn't. A patriot in every sense on the word. Awesome! Thanks for putting this up :)

[boeboedada22]

99% cowboys WAKE UP!

[siftyfour]

mises>hayek imo

[UltraConservative298]

@siftyfour I agree. Hayek was a socialist who supported compulsory welfare.

[TokenLibertarianGirl]

Wow I believe that this is the first time I've ever heard him speak.

[whedonfreak976]

What a crock of shit. So the better of a company is by keeping the money the better off the workers are? O K then why is there such economic disparity in america? The top CEO Makes 500% more than the average blue color worker. How the hell is that helping the worker out? And also companies are making record profits, and paying less taxes the top 2% are and yet america is still lagging behind in jobs. What a crock of shit.

[mjbarrowful]

@whedonfreak976 Mises wrote a lot of things you clearly haven't read. The implication of your comment is that America has free market capitalism. This is false

[whedonfreak976]

@mjbarrowful Well then explain to me how it is false. We live in a crony capitalist free market society, and i want you to tell me how i am false on this?

[mjbarrowful]

@whedonfreak976 I shouldn't have to. You're calling Mises without having read any of his works. Go read about Austrian economics and you might understand. Mises media is a channel here on youtube that you can learn more about this. Crony capitatlism isn't the same thing as capitalism. We need sound money with market interest rates. no taxes or subsidies, no government monopolies or regulations, ect

[ajgolfer1]

@whedonfreak976 the average ceo provides more value to a company that the average worker however integral they are to that company.

[whedonfreak976]

@ajgolfer1 Yeah so if i have a company, and i am a ceo, but no one will work for me, then what gets done? How does the company operate? Without good workers you would not have a good company, and way to go, pick the blood sucking evil corporate goons over the worker, just like von mises and them wanted right? Herp de derp de derp herp de derp. (Like the Swedish chef would do)

[ajgolfer1]

@whedonfreak976 that's nice go right to my nationality

[whedonfreak976]

@ajgolfer1 I was talking about a muppet and you claim i was talking about your nationality, nice try, but trying to spin what i said, and knowingly lie about it=debate fail. Wow that is all you have? No wonder libertarians always lose the debate.

[ajgolfer1]

@whedonfreak976 WTF is a muppet?

[johnwrogers]

This man has changed my life along with Murray Rothbard :)

[danmarder1]

@johnwrogers

Exactly the same here :) This man is my hero

[qwertypoiu4321]

It is great to hear his voice!!!

[Bellantoni]

...and yet corporate profits have been skyrocketing for the past 30 years and real wages have either stagnated or declined. CEOs make 400x the average worker these days, it used to be about 20. The profitability of Outsourcing is that it employs the cheapest possible labor .

"†Masters are always and every where in a sort of tacit, but constant and uniform combination, not to raise the wages of labour above their actual rate."

[TheClosestcontinuer]

@Bellantoni

Did you forget that real wages are directly related to inflation? It seems like many people forget the importance of that fact. Also, what are the profits adjusted to inflation? I don't doubt that it's higher but it's probably because the standard of living has also raised. Why don't you become a company owner and pay everyone as much as a CEO, tell me how long that company lasts. Also, cheap labor = cheaper products thus more productivity and higher standard of living.

[Bellantoni]

@TheClosestcontinuer Standard of Living measures real income and poverty. Lowering the one raises the other and Standard of Living falls. Real wages Are adjusted for inflation. All of the growth for the last 15 years in this country has gone to the top 1%.

"The liberal reward of labour, therefore, as it is the effect of increasing wealth, so it is the cause of increasing population. To complain of it is to lament over the necessary effect and cause of the greatest public prosperity."

[cooljj82]

@Bellantoni your not really saying that wages have not increased in 30 years are you?

[arud555]

@cooljj82 REAL (inflation-adjusted) wages have not had a meaningful, sustained increase since basically the turn of the 20th century.

[Bellantoni]

@cooljj82 You can read what I said. Profits have increased 20-fold; wages have not. Mises is wrong.

As you would expect from a guy who asserts that evidence is immaterial and data antagonistic to his world view.

[NobiscumDeus1]

@shadowgeyser I think we only should socialize health care, and education, though the second one will be limited. I think we should have an universal health care, which will cover anyone in the country, and no, it's not like the one that Obama proposed. Education should be led by a group of citizen that are specialize in the area, not an intervention of the government, nor any privatization way as they only teach their bias ideals, not entirely what it is.

[Totter7]

@NobiscumDeus1 You may be right, but the problem inevitably is that politicians say "socialism works for medicine and education (I have my doubts!), so why can't it work for other things too?"

[NobiscumDeus1]

@Totter7 This is why the citizens itself have to secure their own freedom as the politicians might not do it for them. Why nothing else? Well, because then the government would go putting taxes like crazy, or use socialism in the wrong way.

[Totter7]

@NobiscumDeus1 Absolutely. I believe that nobody can spend a person's money as well as the person who earned it. The government should not be above the law, and yet acts in this was all the time. It can use theft against the worker without repercussion. With Socialism, you normally end up with a POLITICAL allocation of resources, as opposed to an efficient one. To stay in power, the government can steal off 49% of the population and give it to the other 51%. It's as simple as that!

[NobiscumDeus1]

@Totter7 That's why I think some things should only be socialized, and also specify what should be socialized as the politicians can take only the bad part of socialism. The government exists to serve the people, not the people to serve the government, and that's why the people should know the law and be over the government. However,we should neither have a totalitarian democracy as it can turn against those that are the minority. We need a republic that ensure the individual rights to everyone.

[NobiscumDeus1]

@shadowgeyser Yes, you are right. I know, it's very rare that someone says socio-capitalistic ideas. What I means is capitalism with some socialist ideas. I mean, not all socialist ideas are bad. I think that by socializing some things, we would progress better. Of course, we would never turn into a socialist regime.

[NobiscumDeus1]

The ones who call themselves capitalists today are in fact fascist in the curtain. The truth is that the conservatives, which call themselves defender of liberty and capitalism, are the contrary. While the new liberals hide now in the democrat and socialists ideas, and want to lead us to a form of communism, which in the end will be a dictatorship. In my opinion, the truth to success is in classical liberalism, and libertinism, with socio-capitalistic ideas.

[CBR11X]

@je5752 I have no idea what you're talking about. Sarcasm is the lowest form of wit.The IRS steal our money so that the ruling class can be paid interest that we supposedly owe to them for money creation. Very little of the income tax goes to providing services. What you sarcastically refer to as Utopian Socialism is in fact Capitalism unbridled. As far as voting where our money goes, when was the last time you were asked? I haven't because the ruling class select our 'leaders'.

[TheManiacalSatanist6]

The person who posted this video should get a FUCKING MEDAL for finding this recording.

Thumbs up if you agree.

[JohnRinNoHo]

@TheManiacalSatanist6

Hmmm . . . I can make medals.

[CBR11X]

Unfortunately the capitalists of REALITY do not care for others. Their goal is not sharing wealth in order to better others lives, rather to extract more and more and give away less and less. Von Mises completely MISSES the point. His class is the Landlord Class, those who extract economic rent from all of society. If he had his way, the whole society would be turned into a toll-booth. Ask an Indonesian girl working on a palm oil plantation, if her extra labor generates a greater share for her.

[tonygmilan7]

@CBR11X. how can a capitalist make money without producing something that helps people?

[CBR11X]

@tonygmilan7 It's called finance capitalism. they sell 'ideas' and produce 'wealth' from thin air. The USA has gone from a production based economy to one that has become financialised. The vast proportion of the non-military based GDP is from selling derivatives,CDO's and the panoply of fictive capital that banksters have created since the early twentieth century. This is bad because it does not add anything real back to society. They, the finance capitalists, make money on other's debts.

[tonygmilan7]

@CBR11X. if there was no investment, how would anything be made?

[CBR11X]

@tonygmilan7 Investing in production is not capitalism. People have been producing things for millenia, yet capitalism has only been around since the 1800's. Ultimately one has to realise that the money supply which is used for production and so forth, is debt based and is created by bankers at a leveraged ratio which in the end degrades the currency. If the government were actualy run to benefit society at large and not a select few, we could produce debt free money for investment in the future

[arud555]

@CBR11X Your premises are faulty. Capitalism has been around since the 1800s only in the sense that it was relatively unhindered in the 1800s. That does not mean free, interpersonal exchange didn't exist beforehand. It most certainly did, although it was often infringed upon by government, and thus you cannot premise your argument on its absence. Unless your position is that totalitarianism developed before or with homo sapiens, and free exchange did not exist at all before the 1800s.

[johnwrogers]

@arud555 It is great to hear his voice. He was said to be a very humble and kind spirit human being.

[ronoman88]

"Good Profits and Higher Wages go hand in Hand" That is false, incorrect, uninformed,misguided,and empty. Actually in certain cases it is the opposite. And I love VonMises.

It's great being old and knowing things......

[Veerwhil]

@ronoman88

If you take the quote at face value, then yes it is. Too bad people are conditioned to think in political slogans. However, without capital accumulation we would be living at 17th century standards. By the loose term "higher wages", an economist considers value of the additional products people could afford, from the expansion of goods and services caused by profitable reinvestment.

[USA4July1776]

Thank you.

[jmelkis]

At the time this was written, it simply described capitalism at its best and most ideal.

But now, things are so different since the government has usurped so much control of society through its extravagant spending.

This text needs to be our manifesto in some sense or another. Not to be doctrinaire, but it eloquently and simply points out the positive aspects of capitalism, and it shows the way we have lost through letting the government take the reigns financially with fake money.

[Nintendomanwill]

I'm glad to see that not everybody thinks 2008 was a crisis for the 'free' (!) market!

And regarding medieval history, I would argue that even the poor did well from adhering to the inequality of the time, in feudal England, otherwise they would have revolted: but one's profit motive in sanctifying the institution of private property is what prevents theft and class conflict for the unequal order produces the most wealth, that which comes spontaneously: from freedom.

[Nintendomanwill]

@Nintendomanwill

* "for the unequal order produces the most wealth"

meant "because the unequal order produces the most wealth"

That comment was intended to be a defence of the spontaneous order arising from exchange of property. Replace "for" with "because" when you read it.

[jmelkis]

He also talks about medieval history, how wealth from the rich came directly from the poor, but how that had changed. I wonder, is that way the liberal types and others scoff at things like Ferraris, because they have this inherited assumption that the person who owned somehow stole it from a poorer person? That's essentially Marx's take on capitalism, as well. But Mises shows that to be a fallacy.

[Telpeurion]

Mises was a liberal.

[nfusionlabs]

@Telpeurion jewish liberal

[sadkins1]

@Telpeurion a classical liberal.

[Telpeurion]

@sadkins1

A giant jewish classical super duper new age liberal.

[bobjimjones]

@Telpeurion a classical liberal. that's an importnt distinction. in todays world that world has taken on a meaning which has almost nothing to do with its original one.

[jmelkis]

He's right. I wonder what he would say about how things have changed. You know, back in his day, Americans were saving, and it had a really beneficial effect. But as of late, few Americans save. I wonder how much this has to do with the Federal Reserve. Maybe that has to do with why things are declining. I mean, we did start to save again after the recent collapse, but that was stopped by programs like Cash for Clunkers and housing programs...debt! No savings! Government becomes all!

[mbanai71]

This is incredible!! Reading 'Human Action' will never be the same. Fantastic!

[FastMg42]

A replay attack is a form of network attack in which a valid data transmission is maliciously or fraudulently repeated or delayed. This is carried out either by the originator or by an adversary who intercepts the data and retransmits it, possibly as part of a masquerade attack by IP packet substitution (such as stream cipher attack).

[greenback001]

What a treat to hear the voice of the man I've read so much from.

Interesting to note, this talk was given while the gold standard was still in place and a more authentic model capitalism was in play here in the good'ol USA.

Great find, great post.

[jmelkis]

Yes, and as I said, people actually saved money. Do you think that also has to do with the gold standard?

[TheStfu1000]

@greenback001 you dont need a gold standard all you need is for the government to stop printing money and price fixing e.t.c. you can still have paper just as long as government doesnt do that stuff.

[bugsbugmenot]

love it

[obaidkarki]

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[cpswyl2]

I thought wage earners and employers was a wierd title for a song

[dimaniak]

transcript anyone?

[minnesotachris]

@dimaniak, the transcript is in the video description.

[return135]

WHAT!?! Insane post. This man is a legend!

[RMMHS4RP]

Can we count the number of socialist fallacies that he refutes in six minutes? What a man...

[Bigturns33]

Hes the master. It pains me to hear people like Keynes get idolized while mises is somewhat thrown on the back burner. LIke Hayek, when I read his book socialism i was blown away. I knew socialism was bunk and for good reason but his books was a systematic deconstruction of the idea.

Amazing.

[TheManiacalSatanist6]

@Bigturns33 If you want to see something funny, check the video I did on Michael Moore and read the comments. It's hilarious how many Socialists I got on that video.

[constablekohler]

Wow. really, thanks for posting this.

[Diatonic135]

great tape, thanks for uploading!

favorited!