16 episodes
Ludwig von Mises Archives Ludwig von Mises
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- Podcasts
Only a few recordings survive of the great economist, and only those after his immigration to the United States.
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The Political Consequences of the Welfare State
Ludwig von Mises begins by recounting the origin and semantics of the term welfare state.
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Language and the Inflation Debates
Ludwig von Mises discusses inflation, labor unions, and issues of the adoption of improper terminology and widespread public misinformation.
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Why Socialism Always Fails
Mises explains why socialism always fails due to the absence of a free market pricing structure for capital goods.
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Question and Answer Session
Two important questions to be answered: (1) What is inflation? What causes it? What are the effects? Inflation is an increase in the quantity of money available caused by an increased in the production of gold and silver, or an over-issuance of paper money. Prices rise. Purchasing power falls.
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Monetary Problems
The monetary problem – the market problem – is the medium of exchange. The illusion is that one would be better off if only one had more money. Everybody should have more money. Therefore, make more money. This creates the system of inflation.
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Socialism versus Free Market Exchange
Human beings are collaborators with each other. Socialism is one kind of cooperation of people. One thing determines the socialist organization. It is the lack of freedom and the complete obedience to a Fuehrer (leader). Not surprisingly, everyone considers themselves to be part of the ruling group, forcing others to submit.