Fundamentals of Economic Analysis: A Causal-Realist Approach
Joseph T. Salerno, Peter G. KleinJoseph T. Salerno and Peter G. Klein are two of the most productive micro-economists in the Austrian School today. This seminar provides an introduction to Austrian Economics. Presented at the Mises Institute, 11-15 June 2007.
| Publishes | Daily | Episodes | 10 | Founded | 4 years ago |
|---|---|---|---|---|---|
| Categories | EducationCourses | ||||
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Klein explains profit as a category, not a line item. The entrepreneur’s function is to experiment with combinations of factors of production to find those that produce the greatest economic value.
The sixth in a series of ten lectures, from Fundam... more
Prices allocate resources to their highest uses. It is welfare-maximizing in any meaningful way. Prices are signals. Prices provide feedback to entrepreneurs about the quality of their forecasts.
The third in a series of ten lectures, from Fundamen... more
Rent control seems great to the snug renter, but it will assure that no new building or renovations will be undertaken by entrepreneurs. Shortages follow. Agricultural subsidies, quotas and price support loans function as regressive taxes upon the po... more
A medium of exchange should display these characteristics: must be generally acceptable, widely demanded for non-monetary uses, easily portable, homogeneous, highly divisible and highly durable.
Although it is beneficial to have more of any other c... more
Consumer goods and producer goods are subjectively determined by how they are used.
Factor pricing is by the Austrian theory of imputation.
To Austrians, all costs are opportunity costs.
The fifth in a series of ten lectures, from Fundamentals ... more
Consumption, saving, investment and spending occur in every production stage – across time. The interest rate is the rate of price spread. It is what the capitalist earns for time preference.
The seventh in a series of ten lectures, from Fundamenta... more
The first in a series of ten lectures designed to introduce the layman to the basics of applied Austrian economics: Fundamentals of Economic Analysis: A Causal-Realist Approach.
Download the MP4 video.]]>
Salerno also covers elastic and inelastic demand.
The second in a series of ten lectures, from Fundamentals of Economic Analysis: A Causal-Realist Approach.
Download the MP4 video.]]>
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