Why Mises Is Important - Israel Kirzner

Israel Kirzner, Emeritus Professor of Economics at New York University
Ludwig von Mises (1881-1973) and Friedrich A. Hayek (1899-1992) were leading founders of the Austrian School of economics, and are counted among the twentieth century’s foremost champions of free markets and critics of socialism. This second CCA of the 2016-2017 academic year will consider the history and principles of the Austrian School, as well as Mises’ and Hayek’s major works and continuing influence.
Watch more from CCA II: Mises, Hayek, and the Austrian School at www.hillsdale.edu/live/2016-2...
Hillsdale College website: www.hillsdale.edu/

[@bentandreassen1053]

Great talk. Thanks for posting this. Austrian economics is alive and well.

[@MisesCelebrations]

Wonderful tribute to Mises by a brilliant scholar of economics himself. Many excellent insights in exactly why Mises needs to be considered important, both as an economist as well as a proponent of a free society.

[@whiff1962]

And let's not forget his praexology Brilliant man, timeless thinker.

[@Atika55555]

well Mises was his director of thesis and professor so the tribute is normal :)

[@actualideas8078]

A talmudic rabbi?

[@MisesCelebrations]

@@actualideas8078 - Ah, NO. Fascism is a form of socialism. NAZI is a shortening of the name of the party: National Socialist Workers Party - totally anti-capitalism. Mises and Kirzner fought (intellectually) against all forms of socialism, including fascism with all their energy.

[@jeffblackard9753]

@@MisesCelebrations my G-d I’ve been saying the exact same thing for years and no one realizes as much.

[@soapbxprod]

Thank you so very much for uploading this concerto of reason by Dr. Kirzner. :)

[@jamesbancroft2467]

Hayek used Walrassian general equilibrium analysis but only used equilibria as starting points and then explained how market processes move in tendency towards them

[@kronokiler]

exactly

[@Jeronimus8090]

38:40 economic calculation. Equilibrium economics and entrepreneurial character of market process. Dynamic competition process and non equilibrium.

[@davidheilbronprice145]

A good clear exposition of the ' central planning' fallacy. Hence the collapse of the USSR.

[@DipakBose-bq1vv]

USSR was killed by Gorbachev and Yeltsin. Without them it could have survived even today as there was no serious problem for the economy, people were happy with almost everything available as entitlement, with excellent universities and medical system. The people lost everything they developed with great sacrifices by a group of very evil people who gained nothing at the end as all their I’ll-gotten assets were confiscated by the free market governments of the Western countries.

[@matthewapsey4869]

Wonderfully lucid and comprehensive account of things, thank you.

[@nelsonvalderrama8371]

Great historic speech from a great economist about another greater one.

[@robertcarpenter8077]

Excellent lecture.

[@petermiyoung]

Excellent talk. Thank you for uploading

[@BinanceUSD]

One negative unlike! How? Why? IK is AMAZING.

[@kamilziemian995]

Very fine lecture.

[@LukeAvedon]

amazing

[@EmmanuelGoldstein74]

31:23 I respectfully disagree. Most of the credit must go to the Ludwig Von Mises Institute in Auburn, Alabama. They did what Mises himself couldn’t do. Take his works and educate the public about them. Under Lew Rockwell and the late Dr. Murray Rothbard they worked tirelessly to defend his writings against the academic elitists. They brought it to college students who are today Austrian economists.

[@yydd4954]

They also spread propaganda They defame Mises a bit Though they are brilliant with their workrate and management But sometimes it seems they are Rothbard institute They seem to have some problem with Hayek

[@banone400]

Absolutely. Their Paleo Conservative method does more damage to LvM's legacy than almost anything else.

[@joeyc4492]

Yeah they are Rothbardian libertarians and not Misesian liberals. I’m definitely “Austrian” pertaining to economics but would be a libertarian/anarcho capitalist on the side of David Friedman.

[@dansonoflightning2277]

I'm studying Austrian economics and am new to Kirzner's works. Which of his books discuss the application of time-preference and praxeology to microeconomics?

[@mzk1489]

A fellow Chaim Berliner!

[@Jeronimus8090]

16:50 New wave of young economist. Influence of Mises ideas.

[@actualideas8078]

Yay let’s all learn economics from Talmudic scholars.

[@Jeronimus8090]

@@actualideas8078 listen and read before write that no sense.

[@actualideas8078]

Jerónimo Mises’s ideas were Liberal. He believed in democracy

[@glennmitchell9107]

Can free market and free society economic theory advance to the fore if command economic theories are not first thrown into the dustbin of history?

[@PJHamann1]

I guess you'd say that he loved Mises to pieces. Badump bump CHIN!!!!

[@Atika55555]

I don't understand the joke please explain lol

[@mapcreu]

"Mises is important for the intellectual history of the 20th century and beoynd!" 😚😜

[@derekshoemaker8990]

I wonder what the bump on his head is from.

[@polarbear9968]

30% from deep thinking and 70% from heated debates.

[@BuceGar]

"If you invest your tuppence wisely in the bank, safe and sound, soon that tuppence, safely invested in the bank, will compound and you'll achieve that sense of conquest. As your affluence expands in the hands of the directors, who invest as propriety demands." - Ludwig von Mises kzbin.info/www/bejne/jqncc2Vvl6mVeKM

[@polarbear9968]

AI with super intelligence is coming and accurate central planning will be achieved based on super big data?

[@jamesbancroft2467]

this is an actual Austrian economist guys, not a fraud like Rothbard and his online followers

[@martonk]

agreed

[@jamesbancroft2467]

Márton K. OMG you’re not an Anarchist lunatic either! Hooray!

[@martonk]

@@jamesbancroft2467 i'm more Hayekian or maybe Misesian than anarcho capitalist

[@jamesbancroft2467]

Márton K. we need to expel them from AE-they undermine our work in doing actual economics with their deluded political ideology & they give us a bad name

[@jamesbancroft2467]

Márton K. same

[@johnjones6601]

Needs a bit of levity. A bit dry and unvarying in tone but I guess this is economics, not Shakespeare.

[@matthewapsey4869]

What accent is this?

[@dansonoflightning2277]

He's from South Africa

[@DipakBose-bq1vv]

A Nazi accent.

[@DipakBose-bq1vv]

Accent of a slave-owner.

[@jamesbancroft2467]

thank God the idea of socialism is just a zombie instead of alive and well

[@norberthaag9345]

Unfortunately I have to disagree. Socialism is alive and well in the USA abd around the world.

[@anahitaaalami9064]

Mises is rolling in his grave today...

[@ehudnold9]

the rebbi :)

[@DipakBose-bq1vv]

There is no price in a centrally planned economy. Everything that are needed should be available as entitlements. That is the central fallacy of the Austrian economics.

[@metal87power]

The only Israel I can approve.

[@metal87power]

Every state is a coercion, bro.

[@metal87power]

what's that? Do you wish to prove that Kelthuzzar's main ability is to call names before American audience in the comments? Esp. since there's so many "libtards" among them.

[@metal87power]

Start with yourself, friend.

[@whiff1962]

Well, to be sure, writing of the state and its monopoly on violence would not be "random", here on Hillsdale.

[@bjarnepedersen8206]

Mises destroyed the 20th.

[@OrthoHoppean]

Shut up bro 🤣

[@naimulhaq9626]

Deng Shio Ping proved a better economist than Mises, Hayak, Keynes etc. he also made socialist 'planning' work, while in USSR it failed.

[@DsantosGE4PA]

Oh yeah, for sure. ahahahahahahah

[@enematwatson1357]

Deng Xiaoping got rid of it which is indeed the only way to make it "work".