16 episodes

Only a few recordings survive of the great economist, and only those after his immigration to the United States.

Ludwig von Mises Archives Mises Institute

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Only a few recordings survive of the great economist, and only those after his immigration to the United States.

    Why Socialism Always Fails

    Why Socialism Always Fails

    Mises explains why socialism always fails due to the absence of a free market pricing structure for capital goods.

    Question and Answer Session

    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.

    Monetary Problems

    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.

    Socialism versus Free Market Exchange

    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.

    The Free Market Society

    The Free Market Society

    Division of labor and an exchange economy are the basis of society. Various commodities competed for being money, but gold prevailed as the medium of exchange, without any interference by governmental authorities. We should have again a gold standard all over the world.

    A Seminar on Money

    A Seminar on Money

    From a practical point of view, the supply of money is very different from the supply of any other good. An increase in other goods, like shoes or meat, is a welcome event, but an increase in the supply of money dilutes the purchasing power of each money unit.

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