Posts Tagged ‘Chicago School’

At the 1990 Mises University at Stanford, Professor Murray Rothbard (1926-1995) spoke on the collapse of the Soviet Union and the future for freed markets in a lecture titled, “The Future of Austrian Economics.” Educational and always humorous, he shows the flaws of the U.S.S.R. weren’t practical blunders, but ideological and methodological flaws of “planning the modern industrial State” which made its demise inevitable from the start and why compromising radical philosophy with the irrational “doesn’t work”. (49:39):

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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. (more…)