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The Role of Austrian Economics in the Liberty Movement | Tom Woods

The opening lecture of the 2014 Mises University. Archived from the live broadcast from the Mises Institute in Auburn, Alabama, on 20 July 2014.




  1. Tenebrousable February 24, 2018

    Anyway, the seesaw isn't the main point. -Tom Woods 2014

  2. unUSEFUL idiot February 24, 2018

    Walter block head lmao!

  3. eddwardo February 24, 2018

    i love his talks, they are refreshing.

  4. Trevor Sullivan February 24, 2018

    If that speech wasn't incredible, I shudder to think of what your definition of the word "incredible" is. Well done, Mr. Woods.

  5. IskalkaQuest2010 February 24, 2018

    So good, Tom! So very good! Thanks! 🙂

  6. Geir Agustsson February 24, 2018

    Excellent speech! I would like to have the 1000-dollar-trunk story available as an article to hit the debate with. Is there a place?

  7. 胡瑞成 February 24, 2018


  8. Danny Vega February 24, 2018


  9. Tatiana Gabbi February 24, 2018

    Excelent! Amazing! Next year Im on it! Alabama here I come

  10. Zero Verse February 24, 2018

    jews in economics.  turns out murray rothbard, and von mises were both jews…

    SERIOUSLY, Time to go read up on Keynesian economics.

  11. Blank Pennant February 24, 2018

    I agree that market prices are important for efficiency. But I am not sure that it is self evidently necessary to have a functioning economy.

    Your example – the government owns a mine, it also owns some land near the mine. It also owns land further away. So they could not possibly make the decision of where to put the factory – makes some sense.

    But let me give you another example, but one that is not hypothetical. You have massive tech monopolies.

    Microsoft did not buy Internet Explorer or components of their operating system. So how could they possibly know how many resources to spend on writing a web browser vs fixing bugs somewhere vs some other component of the operating system?

    Look at everything Amazon does and did. It pioneered data mining and things like that. How could they know how to allocate resources to all the different components of their business?

    It seems like if the pricing mechanism were the most important thing in the world, you would not have these giant monopolies, you would have firms doing specifically online advertising (and not one company with 90% market share). Or data mining, or even storing data, running servers, or all these other things.

    It seems like in the very early stages in any new technology you have a lot of competing firms, but they then quickly become near monopolies. Granted, intellectual property law, the tax code, and other government intervention helps to keep the giant corporations ahead of their competitors. But there is still enough of a free market that it seems like if the pricing mechanism were everything, these monopolies would not arise.

  12. HIGHLANDKING1 February 24, 2018

    Thank you everyone who works for Mises, God bless guys

  13. HIGHLANDKING1 February 24, 2018

    Loved the Rothbard story at the end 🙂

  14. D Bruce February 24, 2018

    Great speech
    Tom mentions Fred Foldvary – that mens a lot to me  – read Foldvary's essay Inequality Unexplained:

    "The ideology of welfare statists makes them only think of governmental aid and reject the idea that governmental intervention is the source of the problem. They sneer at “free market fundamentalism.” They don’t understand the fact that taxes on labor redistribute wealth from workers to landowners as government taxes wages to pay for public goods that generate higher rent and land value. They don’t understand that the worker-tenant pays twice for the public goods of government, once by having half his wage taxed away, and a second time in the higher housing rental he pays because greater governmental services increase locational rents.

    The effective remedy for poverty is to remove all punitive taxes and land-value subsidies. We can remove subsidies to the landed interests by having them pay back the rent generated by useful public goods such as roads, schools, and security. Without taxes on labor and enterprise, the cost of labor is lower to employers, while the worker’s take-home pay is higher. The replacement of wage taxes with land value taxes would reduce economic inequality while also increasing the productivity of the economy."


  15. George Baily February 24, 2018

    Keynes vs Hayek rap as mentioned at 9:05

  16. George Felini February 24, 2018

    Inspiring speech, Thank you Tom Woods.  Great way to kick off this upcoming week at Mises University!

  17. Kam Himself February 24, 2018

    There is a reason they call him Tom Mother Fucking Woods 

  18. The Ignored Gender February 24, 2018

    Brilliant speaker that Tom Woods


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