Episode 25 - Introduction to Microeconomics - 5 of 14 - Minimum Price Controls - Murray N Rothbard

INTRODUCTION TO MICROECONOMICS Presented by Murray N. Rothbard in 1986 at New York Polytechnic University. Recorded by Hans-Hermann Hoppe. 5. Intro to Micro: Minimum Price Controls Thou shalt not sell a certain product or service below a certain price, e.g. wheat, cotton, corn, cheese, sugar. This will result in an artificial unsold permanent surplus, as it does in the American farm situation. Initially resources are attracted into the field, but the artificially high price discourages buyer demand. This kind of interventionary tampering with market signals destroys the market tendency to adjustment and brings about losses and misallocation of resources in satisfying consumer wants.The principles of minimum price controls apply to minimum wage laws, which lead to involuntary mass unemployment. Part 5 of 14. Presented in 1986 at New York Polytechnic University. This lecture on YouTube: https://youtu.be/tUGkZp11cfo Sourced from: https://mises.org/library/introduction-microeconomics We are not endorsed or affiliated with the above. https://creativecommons.org/licenses/by-nc-nd/3.0/legalcode Presented by Read Rothbard: Read Rothbard is comprised of a small group of voluntaryists who are fans of Murray N. Rothbard. We curate content on the www.ReadRothbard.com site including books, lectures, articles, speeches, and we make a weekly podcast based on his free-market approach to economics. Our focus is on education and how advancement in technology improves the living standards of the average person. The Read Rothbard Podcast is all about Maximum Freedom. We look at movies and current events from a Rothbardian Anarchist perspective. If it's voluntary, we're cool with it. If it's not, then it violated the Non-Aggression Principle and Property Rights - the core tenants of Libertarian Theory - and hence - human freedom. Website: http://www.ReadRothbard.com iTunes: https://itunes.apple.com/us/podcast/the-read-rothbard-podcast/id1166745868 Google Play Music: https://play.google.com/music/m/Ii45fhytlsiwkw6cbgzbxi6ahmi?t=The_Read_Rothbard_Podcast Facebook: http://www.facebook.com/readrothbardclub Twitter: https://twitter.com/read_rothbard Flickr: https://www.flickr.com/gp/145447582@N05/xB4583 Patreon: https://www.patreon.com/ReadRothbard Murray Rothbard, Murray N Rothbard, Read Rothbard, Anarchy, Anarchism, Free-Market, Anarcho-Capitalism, News and Events, Podcast, Laissez-Faire, Voluntaryist, Voluntaryism, Non-Aggression Principle, NAP, Libertarian, Libertarianism, Economics, Austrian Economics, Austrian Economics Overview, Capital and Interest Theory, Prices, Value and Exchange, Microeconomics, Supply and Demand,