Austrian School of Economics: Revisionist History and Contemporary Theory

Joseph T. Salerno presents a series of ten formal lectures on topics related to the history and theory of the Austrian School of Economics. Download the complete audio of this event (ZIP) here.

Austrian School of Economics: Revisionist History and Contemporary Theory is a general podcast hosted by Joseph T. Salerno, with 10 episodes on record and a Required Pod Score of 80. PitchCentric scores this show on Booking Probability, Listen Score, and live audience signals refreshed every 24 hours.

Joseph T. Salerno hosts Austrian School of Economics: Revisionist History and Contemporary Theory, a general show with 10 episodes published.

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  Austrian School of Economics: Revisionist History and Contemporary Theory

  Forerunners of the Austrian School: The French Liberal School

  Dec 15, 2018—S0

  <p>The French Liberal School had been dominant through four generations because they were privately funded, but when the government intervened in the French universities the Liberal School lost its hold. Richard Cantillon, Etienne Bonnot de Condillac, A.R.J. Turgot, Jean-Baptiste Say, Frederic Bastiat, and Michel Chevalier were responsible for economic concepts such as opportunity cost, the entrepreneur as risk-bearer, monetary theory, cause and effect methodology, utility, economic liberalism, and Say’s Law.</p> <p>Both in Great Britain and the United States during 1870-1890, the French Liberal School was hated and denigrated. The American Economic Association was started in...

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  Austrian School of Economics: Revisionist History and Contemporary Theory

  10. The Gold Standard in Theory and Myth

  Jun 11, 2005—S0

  <p>The mythology of gold really grew up with Keynes and the quantity theory. Here are six of those myths: the gold standard is unable to accommodate the needs of an growing economy; the quantity of money is arbitrarily determined; the gold standard is a government price fixing scheme; the gold standard subjects a country to alternating inflation and deflation; the gold standard requires high costs devoted to resources; and the gold standard results in high interest rates.</p><p>Basic supply and demand analysis in most cases will show us that these are myths. Having refuted all six myths...

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  Austrian School of Economics: Revisionist History and Contemporary Theory

  7. The Political Economy of the Chicago School: Libertarian or Jacobin?

  Jun 10, 2005—S0

  <p>The founder of the Chicago School, Frank Knight, was an avowed egalitarian. Rousseau was his influence. Jacobins believed in mass democracy and politics as the only way to implement their ideas. They hated aristocrats and religious leaders. Knight believed in progressive taxation. He wanted neocon social democracy.</p><p>Milton Friedman was part of the Chicago school. His Capitalism & Freedom contains much of his thought. He was more pro-freedom than Knight. But, he introduces the concept of externalities and approves of the welfare state. Education (public-private schools with vouchers), poverty (charity will not suffice, thus massive welfare systems needed...

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  Austrian School of Economics: Revisionist History and Contemporary Theory

  8. The Debate on the Socialist Calculation Debate

  Jun 10, 2005—S0

  <p>The debate still continues. It is all about Mises’ initial article and then book on Socialism in 1922. He demonstrated the necessity of the price system and showed how subjective values were transformed into objective prices which could be used as meaningful cardinal numbers in economic calculation.</p><p>One big cartel that owns everything would be just like socialism, because there would be no price signals. Mises calls this the intellectual division of labor. With no market you never have profits or losses. You have no information. The distinctive mark of socialism is the oneness. Capitalism is an entrepreneurial sy...

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  Austrian School of Economics: Revisionist History and Contemporary Theory

  9. Money and Gold in the 1920s and 1930s: Defending the Rothbardian Position

  Jun 10, 2005—S0

  <p>Friedman’s book, Monetary History of the United States, tried to show the depression was caused by a deflation of the money supply by the Fed. Rothbard’s America’s Great Depression was published the next year in 1963. Rothbard argued that the Fed was actively inflating the money supply.</p><p>Salerno defends Rothbard’s position (against Timberlake) on the definition of inflation, a marginal 100% reserve rule, physical description of the money supply, Treasury policy, and Fed policy.</p><p>Lecture 9 of 10 from  Joseph Salerno's Revisionist History and Contemporary Theory.</p>

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