EPISODE · Feb 20, 2010
3. Advertising
from Austrian Economics: An Introductory Course · host Murray N. Rothbard
Advertising has always had bad press with economists, but consumers discover that a product either works and works well, or it doesn't. Consumer wants are not artificially created by business itself. Advertising as a selling cost seemed evil. The free market benefits every participant. But intervention benefits one group at the expense of another. Political advertising - propaganda - gets a free pass. Lecture 3 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.
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Advertising has always had bad press with economists, but consumers discover that a product either works and works well, or it doesn't. Consumer wants are not artificially created by business itself.
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3. Advertising
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