Episode 9 - Introduction to Economics Part 5 of 7 - Murray N Rothbard

Introduction to Economics: A Private Seminar with Murray N. Rothbard The entrepreneur is the major risk bearer. Business return on capital is long run profits or losses. Real rate of interest is determined by time preferences. Government contracts are cost plus. Medical costs are higher because supply is so restricted by government intervention. Who benefits?[by government action]. Rockefeller families are heavily invested in drug companies. Cartelism. Monopolies. Yet, free market productivity causes prices of goods to drop, e.g. computer products. How the history of the business cycle starts. War stimulus, famine, were outside the market and not cyclical until around 1750. There then began to be wave-type activities. The Industrial Revolution and fractional reserve banking spread. Were these the causes of cycles? Were sunspots?   Part five of seven from Introduction to Economics: A Private Seminar with Murray N. Rothbard. This lecture on YouTube: https://youtu.be/i6mY5GbPCv4 Sourced from: https://mises.org/library/introduction-economics-part-5 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 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,