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The Austrian Case for the Free Market Process
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The Austrian Case for the Free Market Process

Ludwig von Mises and Friedrich Hayek

The Great Economic Thinkers Series
By Dr. William Peterson, Israel Kirzner, Mike Hassell & William Peterson
Narrated by Louis Rukeyser / 2 hours 54 minutes

Ludwig von Mises (1881–1973) and Friedrich Hayek (1899–1992) were perhaps the foremost defenders of the free market and limited government during the mid-twentieth century ascendancy of Keynesian economics.

Mises highlighted the problem of economic calculation in non-market economics. He saw the price system as the basis of economic calculation and emphasized the importance of sound money for it to work properly. Mises created an all-encompassing theory of economics as a system of human action. Hayek emphasized the role of knowledge in economics, asserting that man “cannot acquire the full knowledge that would make mastery of events possible.” He insisted that capitalism has improved the living conditions of workers. Hayek received the Nobel Prize in 1974.

The Great Economic Thinkers series is a collection of presentations that explain, in understandable language, the major ideas of history’s most important economists. Special emphasis is placed on each thinker’s attitude toward capitalism, revealing their influence in today’s debate on economic progress and prosperity.

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The Great Economic Thinkers Series Series

Karl Marx: Das Kapital
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The German Historical School of Economics
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Frank Knight and the Chicago School
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Dr. Arthur M. Diamond, Jr., Israel Kirzner, Mike Hassell & Arthur M. Diamond
The Classical Economists
The Classical Economists
Dr. E. G. West, Israel Kirzner, Mike Hassell & E. G. West
The Austrian Case for the Free Market Process
The Austrian Case for the Free Market Process
Dr. William Peterson, Israel Kirzner, Mike Hassell & William Peterson
Monetarism and Supply Side Economics
Monetarism and Supply Side Economics
Dr. Arjo Klamer, Alan Reynolds, Israel Kirzner, Mike Hassell & Arjo Klamer
Alfred Marshall and Neoclassicism
Alfred Marshall and Neoclassicism
Dr. Robert Hu00e9bert, Israel Kirzner, Mike Hassell & Robert Hébert
Early Austrian Economics
Early Austrian Economics
Dr. Israel Kirzner, Mike Hassell & Israel Kirzner
Joseph Schumpeter and Dynamic Economic Change
Joseph Schumpeter and Dynamic Economic Change
Dr. Laurence S. Moss, Israel Kirzner, Mike Hassell & Laurence S. Moss
Struggle over the Keynesian Heritage
Struggle over the Keynesian Heritage
Dr. Paul Davidson, Israel Kirzner, Mike Hassell & Paul Davidson
Thorstein Veblen and Institutionalism
Thorstein Veblen and Institutionalism
Dr. William Peterson, Israel Kirzner, Mike Hassell & William Peterson
The Vision of Léon Walras
The Vision of Léon Walras
Dr. Donald Walker, Israel Kirzner, Mike Hassell & Donald Walker
The Keynesian Revolution
The Keynesian Revolution
Israel Kirzner, Dr. Frank Vorhies, Frank Vorhies, Mike Hassell & Fred Glahe

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