Introduction to Microeconomics Murray N. Rothbard
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- Podcasts
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Presented by Murray N. Rothbard in 1986 at New York Polytechnic University. Recorded by Hans-Hermann Hoppe.
Download the complete audio of this event (ZIP) here.
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11. The Structure of Production
As factors of production, supply and demand of labor, land and capital will determine how much the producer will get out of this process. This process occurs in different stages.
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12. Labor and Unions
In order for anyone to make ethical judgments, he must know the consequences of his various actions. In questions of union actions displacement or unemployment for oneself or others will be considered unfortunate by most people.
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13. The Labor Market
Economists can say little about population and its size, despite the gloomy views of Malthus. More people are a good thing because of the division of labor. Living standards are higher when populations are higher.
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14. Interest Rates and Course Review
The time market determines the pure rate of interest. Price per unit of time may be wages or rent. The interest income will be earned by the capitalist who has assumed the task of advancing present money.
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10. Government Cartels
The only cartels that have lasted have been government cartels. There is no essential difference between a cartel and an ordinary corporation or partnership. Not even the De Beers cartel is all powerful.
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4. Price Controls in the Oil Industry
The disappearance of oil has been forecast every decade. Prices were overlooked. When the price is high it is more profitable to look for oil. Total reserves on the ground are higher than they were in 1890.