Austrian Economics Hits Mainstream Media

One has to wonder if somewhere deep down a change is occurring in America. While stock prices soar to record highs, it is clear a growing number of 'real' people are realizing the nonsense that watching a 'market' as anything indicative of reality has become. The latest 'shift' is the appearance on New Orleans local TV of a two-minute primer on an "alternative" school of economic thought - Austrian Economics. While the anchor is careful to add the caveat that the mainstream economists think the world would be a terrible place if they didn't help us along, the brief clip begins with some useful common sense, "the market alone should decide the value of products and services. If a company is not successful, it should go bankrupt." Indeed...

Click image for 2-minute clip...


Via NBC33 TV New Orleans,
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Dr. Walter Block holds an endowed chair at Loyola University and is a faculty member of the Mises Institute. He has taught at several universities and written books about controversial economic topics.

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