Dr. Murray N. Rothbard on the core tenets of Austrian economics, refuting the irrationality of Marxism, the Labor Theory of Value, and Keynesian intervention from the State.
Dr. Murray Rothbard on the core tenets of economics — that value is in what a good or service can receive in voluntary exchange. This lecture is often described as an introduction to Austrian economics — the only true form of capitalism and liberalism in that no sustainable economic model can be framed by the State because every time the State makes an effort to fix a ‘problem’, the State’s only tools to do so create more problems.
Other than Dr. Rothbard’s work as an economist, he is best known for his lecture on Just War Theory — stating that the only just wars in America were fought by the founding fathers in the American Revolution and the Confederates in the Civil War — and the first to coin the term “anarcho-capitalism”.
Part One (10:00):