The History of Austrian Economics with the legendary Israel Kirzner

Economics Joke

amagi-nation:

Keynes and Krugman are walking. Keynes says, “I’ll pay you $5,000 to eat a dog turd.” Krugman does it. Keynes doesn’t have any evil savings and didn’t think Krugman would do it: The next day he begs for the money back. Krugman says, “I’ll give it back if you eat a turd.” Keynes does it. Krugman says, “That was stupid: No one made money and we’ve both eaten sh*t.” Keynes says: “But we boosted GDP by $10,000.”

asker

Anonymous asked: Sup Coach, I'm the guy who sent you a message last time asking about my ECON paper. Again, do you have any example social science papers that I could follow? I saw your post with the MEME and decided not to respond, but it looks like I still need your help. The goal of the paper is to show that I understand the technical models (AD/AS/Loanable Funds/Planned Investments/etc.) using macroeconomic domestic and/or international issues in the past 6 months.

I’m not sure what, exactly, you’re looking for (what you’re asking for is pretty broad is that’s why it’s an entire class and not a blog post).

 How much time do you have? Read Economics in One Lesson and Human Action. 

http://mises.org/document/3250/Human-Action

http://mises.org/document/6785/Economics-in-One-Lesson

politicalcrazyness:

The Keynesian Architects of the U.S. Warfare State | Joseph T. Salerno (by misesmedia)

From Ludwig von Mises Institute:

The Donald M. Rembert lecture, presented at the 2012 Mises Institute Supporters Summit: “The Truth About War: A Revisionist Approach”. Recorded at Callaway Gardens, Georgia, on 27 October 2012.

Music by Kevin MacLeod.

I love all of the Mises videos, they are all highly informative but I especially like this one for two reasons. For one, it simplifies and explains the backbone of our Keynesian economic philosophy; Military spending and the Keynesian multiplier. However, I mainly like this video because Rembert incorporated the insane video of Krugman talking about how an Alien invasion would be the greatest thing for our economy. I hope Krugman never goes away. 

(via theonecalledbiz)

moralanarchism:

Murray Rothbard on the Mises Development of Business Cycle

In 20 years, if we save this economy and this country, it will be very interesting to read a book on how Keynes nearly destroyed this country because we choose the wrong economy system and how the economic historians came through at the last minute to save it. I’m guessing Tom Woods would be the author. 

Economics, like logic and mathematics, is a display of abstract reasoning. Economics can never be experimental and empirical. The economist does not need an expensive apparatus for the conduct of his studies. What he needs is the power to think clearly and to discern in the wilderness of events what is essential from what is merely accidental. — Ludwig Von Mises, Human Action (via laliberty)

(via eltigrechico)