Introduction to Microeconomics
Murray N. RothbardPresented 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.
| Publishes | Daily | Episodes | 14 | Founded | 16 years ago |
|---|---|---|---|---|---|
| Category | Podcasts | ||||
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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. The capitalist then waits for five years unti... more
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. Once understood, far ... more
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. Living standards are higher when pop... more
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. In the earlier or higher stages, producers' goods must be produced that... more
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. The South African government nationalizes all ... more
Business men must make sure they can cover their costs by incoming revenue. The production function will yield a certain quantity of a product. The firm considers marginal costs and average costs to weigh where along the demand curve production is. ... more
Thou shalt not sell a certain product or service below a certain price, e.g. wheat, cotton, corn, cheese, sugar. This will result in an artificial unsold permanent surplus, as it does in the American farm situation. Initially resources are attracted ... more
The words monopoly and competition have been changed. Competition meant rivalry or competing, either active or potential. Businesses do not like this. Monopoly meant a grant of privilege by the government. It now means a falling demand curve. Govern... more
Key Facts
Reviews
- Essential
Dr. Rothbard's introduction to macroeconomics should be standard, required reading for idle and high school students. His style is often humorous, witty and cutting. Three things missing from the vast majority of economic literature. "The dismal science" as Rothbard put it, would be far less dismal if he wrote more of the material required in Econ courses!
Apple Podcasts5Darth Kazi
United States14 years ago - Fantastic
No one does it like Murray. Entertaining and informative.
Apple Podcasts5Jeffrey CilleyUnited States14 years ago - Rothbard is brilliant!
An amazingly detailed overview of micro-economics! Real world examples, and historical exegesis a-plenty! Buckaloaf!
Apple Podcasts5Scott TrinhUnited States16 years ago
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