A lesson in the Austrian School

Dr. Tom Woods Gives lesson in Austrian economics. This is a video I made for a paper in english. It will be shown in class before the end of the semester. Hope people like it

Category:

Education

Tags:

• Ron Paul
• Tom Woods
• Peter Schiff
• Austrian School
• Keynes sucks
• Rand Paul
• Lew Rockwell
• mises
• Rothbard
• Hayek
• Hazlet
• economics

[baughshreddz]

what song is that? sounds like something from a video game.

[juananzar]

Its the ecstacy of gold performed by metallica

[kiridoku]

The vid & the content is brilliant. The music is distracting, annoying and unnecessary.

[aviomaster]

USA -- is moving towards Totalitarianism and fascism.

As predicted by F.A Heyek centralized Goverment planing and aqusition of private companies by goverment can lead to only one thing Totalitarianism

[Nintendomanwill]

Something Tom Woods didn't quite drive home when explaining the basics of why inflation and artificially low interest rates create booms and busts is that when businesses can float longer structures of production on cheap loans, even if the source of profits from which investor-bankers give out those cheap loans doesn't crash, those businesses are bidding for resources which are scarcer than their synchronised adoption of longer term structures of production assumes-they run before they can walk

[Nintendomanwill]

That music you use is from the end of The Good, the Bad and the Ugly. Spaghetti Westerns+Austrians schooling economically (completely) ignorant financial pundits. Makes sense. Schiff and Paul were The Good for sure!

But those financial pundits are basically paid to be upbeat on their investments or even by investment houses.

BTW Marx's business cycle theory is more sophisticated than mainstream 'economists: "lack of aggregate demand" even though its a *CYCLE* NOT A PERPETUAL SLUMP! OBVIOUSLY!

[manoman0]

very very annoying music

[Zamolxx]

The end of the Bretton Woods system alongside the creation of the petrodollars by Nixon and the end of the Glass Steagall standard, and as a consequence the formation of the international banking consortium called today the Inter Alpha Group with the introduction of financial derivates... The federal reserve is a piece of poision, the US needs a constitutional national bank and a merchant banking system in order to wipe out the huge illegit debt of the money changers.

[b5thomas7]

Awesome video, hope you make up some sheeple in your class

[asierra1492]

@brothermikefan

since the creation of the fed in 1913 we have had18 recesions (NBER) included at least 3 depressions, thats almost 2 recessions every 10 years...and in the 19th century gov did regulate the monetary system because we had central banks/governments manipulating the money supply. the fed is actually the third central bank in the US.

[gergenheimer]

Japan also had another lost decade in the 1920's. Both the U.S. and Japan had crashes in 1920 (which were, predictably, preceded by periods of monetary inflation/credit expansion by the central banks) Japan tried (as everyone is trying today) to "regulate" the "chaos" of the markets with more monetary inflation, stimulus spending and interest rate fixing. Japan stagnated for 7 years. By contrast, the U.S. allowed the Fed-induced bubble to burst and recovery was achieved in 18 months.

[gergenheimer]

In the 100 years since we started heavily regulating the economy and controlling the monetary system with a central banking system, we've had constant wars resulting in the deaths of hundreds of thousands of Americans, several recessions, 2 depressions, and racked-up an unfunded liability of $80+ trillion through the welfare state. If your measure of "effective" is death, destruction and instability then I would have to agree - the century of progressive regulation has been very "effective"