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Austrian Economics: An Introductory Course artwork

Austrian Economics: An Introductory Course

Murray N. Rothbard·16 episodes

Lecture series16-part courseAustrian economicsAcademicStart from episode 1

Presented by Murray N. Rothbard in 1972 at New York Polytechnic University.

Why listen

This is a complete 16-lecture course from Murray N. Rothbard, recorded in 1972, that walks through Austrian economics from utility and demand to money, banking, and business cycles. It feels like sitting in on an old university lecture: direct, theory-heavy, and unapologetically ideological. It is best for listeners who want a primary-source introduction to Austrian and libertarian economic thought rather than a contemporary news podcast about markets.

Series(1)

Episodes

Feb 20, 2010Episode 16
16. Banking and the Business Cycle

Lecture 16 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 15
15. Money and the Balance of Payments

Lecture 15 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 14
14. Money and Prices

Lecture 14 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 13
13. Monopoly and Competition

Lecture 13 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 12
12. Conservation and Property Rights

Lecture 12 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 11
11. Interest and Capitalization

Lecture 11 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 10
10. Capital, Interest, and Profit

Lecture 10 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 9
9. Labor

Lecture 9 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 8
8. Labor and Unions

Lecture 8 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 7
7. Pricing of the Factors of Production

Lecture 7 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 6
6. Costs of the Firm

Lecture 6 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010Episode 5
5. The Profit Motive

Lecture 5 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010
2. Supply and Demand

In this lecture in 1972, supply and demand concepts included: preferences of consumers, prices, quantity, quality, elasticity, equilibrium, marginal utility, present goods, and production processes. Lecture 2 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010
3. Advertising

Advertising has always had bad press with economists, but consumers discover that a product either works and works well, or it doesn't. Consumer wants are not artificially created by business itself. Advertising as a selling cost seemed evil. The free market benefits every participant. But intervention benefits one group at the expense of another. Political advertising - propaganda - gets a free pass. Lecture 3 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 20, 2010
4. Price Controls

Price controls — triangular interventions — occur when an intervener (generally government) either compels a pair of people to make an exchange or prohibits them from making an exchange. Although ludicrous, price controls are instituted because a product appears to be in short supply, e.g. oil — while price controls create artificial shortages of the product. The conservation movement ties in with the attack on comfort and consumption and humans in general. Lecture 4 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

Feb 12, 2010
1. Choice, Utility, and Demand

Economics begins with the concepts of scarcity and choice. If there was no scarcity it would all be free. Resources like time and materials need to be allocated to economically feasible uses. This will depend on the consumers' demand for the final product. Lecture 1 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

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Listening context

Requires focus - not background listening
Best for: study sessions, evening listening, note-taking, course-style listening
Tone: academic, direct, theoretical, contrarian

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