How an Economist Converted to the Austrian School

Tom Woods talks to Jeffrey Herbener, a professor who taught mainstream economics until he read Mises and became convinced of the Austrian case. http://www.LibertyClassroom.com

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[xxcrysad3000xx]

Do Austrian economists ever feel guilty that their only place of employ is academia, bankrolled by the state? God knows their personality type isn't conducive to either the world of business or the rigors of day labor. If not for patronage these fragile eggheads wouldn't have a hope in the world.

[TomWoodsTV]

Charitable, productive comment.

Incidentally, Grove City College, where Prof. Herbener teaches, takes no form of federal aid at all. There are Austrians all over the business world and in journalism. Whine and hurl insults while you still can. Your monopoly over American opinion is crumbling, and just in time.

[suavehotguy24]

I took micro and macro economics in college and there is nothing about the Austrian school. I found out about Austrian economics through Ron Paul in 2007.

I laughed all the way through my capitalism and economics courses. My professor for my macro course said my paper was very provocative on monetary policy challenging the Federal Reserve.

[0Enidan0]

I was trained in the Marxist/Keynesian tradition. I found the Austrian school through Ron Paul. Seven years of studying economics and I'd never even heard of Mises. What a shame.

[Erel H L]

stefan molyneux isn't an economist...

[xxcrysad3000xx]

I suppose their students don't either? Must be a tough screening process. And I'm still waiting for my book Tom, I was promised some of your fine literature if I signed up for your liberty classroom... I thought Austrians honored their contracts.

[Louis Nardozi]

Krugman isn't an Austrian.

[Craig Howard]

Typical ignorance. Insult the people; ignore the economics because you have no idea what they're talking about and can't be bothered to study it.

[Gilles Godard]

If you ask people engaged in business, you will find quite a few business owners, CEOs etc who know Austrians and adhere to their vision of the worls. Obviously they have other things to do with their time than advertise their views - this is the job of academics, which might explain why you would get exposed to the Austrian school of thought through people in academia... Plus in the highly regulated world we live in, it's not always good for a businessman to advertise austrian views.

[chris hawkins]

The Mises Institute is entirely privately funded.

[noway63244]

Walter Block has done some speaking on the idea of getting a paycheck largely from the state. I think the gist of his opinion is that the more money the "good guys" can get away from the state the better.

But in a free market people with these ideas could still make money. A lot of people pay money to learn this stuff.

[dachickenman]

Does Peter Schiff not count as an Austrian economist? Does Robert Murphy not count? Does Doug Casey not count? Does Jeff Berwick not count? Does Stefan Molyneux not count?

[0Enidan0]

Then I guess my education didn't exist....