Mises Institute

Friedrich A. Hayek explains Austrian Economics at the Department of Economics of the University of Colorado on April 28, 1975. Special thanks to Mr. Fred Glahe for his generous donation of this lecture audio to the Mises Institute.

A full-employment policy produces unemployment. Keynesian economics became the dominant theory wherein inflation was endorsed as a method of increasing aggregate demand which should boost employment.

Hayek opposed this expansionist policy of Keynes. Inflation misdirects labor and distorts prices. Halting inflation produces unemployment.

Hayek would prefer to have a better term than equilibrium. It is over simplified.

(Anecdote: Hayek was almost deaf in his left ear. Marx was deaf in his right. Hayek suggests this says something about their politics.)

Erick Brimen is the CEO of Honduras Próspera, which is described as a "start up city" that offers choice in regulatory treatment. It is an exciting application of libertarian theory to the messy real world of existing States.

Find Out More about Honduras Próspera: https://Mises.org/HAP486a

It was not long ago that signs for “Help Wanted” seemed to be in every store window. However, they are now being replaced with “Store Closing” signs. This switcheroo tells us volumes about how people in the economy are adjusting to the Fed’s money printing business.

See also, "Profit and Loss" by Ludwig von Mises: https://mises.org/library/book/profit-and-loss

Register to attend Educating for Liberty: Mises Circle in Tampa, February 22, 2025, at https://Mises.org/Tampa25. Use promo code Minor25 for 10% off the ticket price.

Order a free paperback copy of Murray Rothbard’s What Has Government Done to Our Money? at https://Mises.org/IssuesFree

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Like Santa, who gives free gifts to our children, people think of the state as providing services “for free.” However, the state cannot provide anything without first confiscating wealth from others—like the Grinch, who first stole all the presents in Whoville.

Narrated by Millian Quinteros.

Most editorialists and pundits have labeled Jimmy Carter's presidency a failure, but his activities after he left office as a rousing success. The truth is that his successful deregulation efforts have left a positive and lasting legacy.

Narrated by Millian Quinteros.

President-Elect Trump has been threatening tariffs against BRICS countries unless they abandon their plans to abandon the US dollar. While Trump may come off as being "tough" in his negotiations, he cannot bluster his way to a stronger dollar, thanks to reckless monetary policies.

Narrated by Millian Quinteros.

The Trump team plans to tinker with government spending, but this does nothing to address the real problem which is the current inflationist monetary experiment.

Narrated by Millian Quinteros.

No macroeconomics or monetary theory course is complete without introduction of the Equation of Exchange, or MV = PQ. However, this equation explains nothing, praxeologically speaking. Instead, it clouds our understanding of how money fits into our economy.

Narrated by Millian Quinteros.

Perhaps John Maynard Keynes' best con job was convincing people that a growing economy needs inflation, lots of inflation. As David Gordon points out, however, Ludwig von Mises eloquently explained why inflation undermines the free market economy.

Narrated by Millian Quinteros.

Britain‘s new Labour Government is doing what leftist governments always do: raising taxes on everyone, but pretending that only the wealthiest citizens will pay more. Middle-class British farmers are quickly finding out that the taxman is coming for them too.

Narrated by Millian Quinteros.