I'm on my winter break from college, in Brazil, and Mises U just makes me so sad thinking about the bummers i'm gonna have to listen to again in august
I must correct the begining of the talk : "this is how much MisesInstitute is important for civillization and every one of human beings living now and coming into life in future" . Thank you sir ... -|- P.S. edit: fixed some syntax .
Awesome! I was wondering a couple of questions:(1) The distinction between original means of production (i.e., land and labour) and capital as a "derived" means of production is contained in Hayek's "Prices and Production", and that is the first time I encountered such a distinction. However, is that distinction something Menger had already stated earlier, or did Hayek derive it from Menger's theory of orders of goods?(2) Is this distinction between original means of production (i.e., land and labour) and capital present in pre-Austrian classical economist too, or is it something Menger and Hayek came up to autonomously? Moreover, do modern Neoclassical economist accept such a conceptual framework, or do they think of capital differently?Funny thing is that I am an economic student, and we were never taught anything of that: present days economists prefer to spend hours devising complex systems of non-linear differential equations rather than understanding what those equations should actually signify...
It’s a question of fact. I am not too worried who said it first, but perhaps it’s Menger. Hayek added colour to capital structure in terms of adding a time element (inter-temporal production) and explaining roundaboutness better (than Bom Bawerk).
Recipe the speaker is referring is behind a paywall, but here ya go anyway.... www.cooksillustrated.com/recipes/852-the-ultimate-flourless-chocolate-cake
@@AustrianEconomist , one NOT behind a paywall. Many are out there. sallysbakingaddiction.com/flourless-chocolate-cake-recipe/ I had forgotten about these lectures and, most surprising, i forgot about his mustache... Cheers!!
Capital theory like any other branch of economics presented just in words can hardly be accepted as „theory“. Therefore Austrian Theory will remain just a sect.
Almost one hour just to learn "a microwave is not an egg" and "Keynesian theory is ju-ju". Thank you Sherlock. Where's the theory? Nobody disagrees with these simple principles...
you'd be surprised with how many people think of capital as a homogeneous entity that can be factored in an equation. Heck, talk to any guy that thinks that they can plan an economy, and they'll tell you "if you have the capital and labor you can make x, or y" and so on...
This is all nice, but what about credit? Banks have existed for thousands of years in some form and now our whole monetary system is based on credit. People don't really need to save money, and the money is mostly in stocks and bonds anyway, you can just sell some stocks of an established company and invest in a hot new startup or something. To me it seems this makes this theory kinda deprecated. If you need money just print it, has been working for the last 50 years.
you are correct that financial institutions providing credit have been around for quite a long time. How long has fiat banking been predominant? In the scheme of things? And if faced with results like the economic bubble burst in 2007/8 (or other examples around the world), how well can you say it has been working these last 50 years?
Came for the mustache, stayed for the capital theory.
I don't know how there isn't 1.3k likes on this comment
Came for the theory, stayed for the stache
came for the stache, stayed for the cake
came for the stache, stayed for the stache
"Animal spirits is bad ju-ju"
I'm on my winter break from college, in Brazil, and Mises U just makes me so sad thinking about the bummers i'm gonna have to listen to again in august
Vc é de que lugar do Brasil?
@@marcoantoniodamasceno2745 BH
@@Solideh tb
@@Solideh vc estuda onde?
@@marcoantoniodamasceno2745 Ibmec, é a melhor opção mas teoria austríaca só em HPE mesmo rs
the Mises Institute provides lectures on all sorts of topics. From banking to baking.
I share this with my friends to help them get a better understanding. Professor Ritenour is fantastic.
Sounds like I really need to try this recipe for flourless chocolate cake.
I love the intensity and passion when he talks about cakes
I must correct the begining of the talk :
"this is how much MisesInstitute is important for civillization and every one of human beings living now and coming into life in future" .
Thank you sir ... -|-
P.S. edit: fixed some syntax .
This guy needs to market a line of flourless chocolate cake, it’s all I can think about now.
Amazing lecture.
Of all the times I've listened to or have read Shawn, I didn't know he had such a dapper stache.
Awesome! I was wondering a couple of questions:(1) The distinction between original means of production (i.e., land and labour) and capital as a "derived" means of production is contained in Hayek's "Prices and Production", and that is the first time I encountered such a distinction. However, is that distinction something Menger had already stated earlier, or did Hayek derive it from Menger's theory of orders of goods?(2) Is this distinction between original means of production (i.e., land and labour) and capital present in pre-Austrian classical economist too, or is it something Menger and Hayek came up to autonomously? Moreover, do modern Neoclassical economist accept such a conceptual framework, or do they think of capital differently?Funny thing is that I am an economic student, and we were never taught anything of that: present days economists prefer to spend hours devising complex systems of non-linear differential equations rather than understanding what those equations should actually signify...
I don't have answers, but I love good questions.
It’s a question of fact. I am not too worried who said it first, but perhaps it’s Menger. Hayek added colour to capital structure in terms of adding a time element (inter-temporal production) and explaining roundaboutness better (than Bom Bawerk).
Grrrrreat and now I'm a fan!
Recipe the speaker is referring is behind a paywall, but here ya go anyway....
www.cooksillustrated.com/recipes/852-the-ultimate-flourless-chocolate-cake
hughw10 thank you! Was looking for it :)
@@AustrianEconomist , one NOT behind a paywall. Many are out there.
sallysbakingaddiction.com/flourless-chocolate-cake-recipe/
I had forgotten about these lectures and, most surprising, i forgot about his mustache...
Cheers!!
Was looking for this :)
Nice stache.😎
Great video on how to make chocolate cake
Capital theory like any other branch of economics presented just in words can hardly be accepted as „theory“. Therefore Austrian Theory will remain just a sect.
applied practice of this theory works
Almost one hour just to learn "a microwave is not an egg" and "Keynesian theory is ju-ju". Thank you Sherlock. Where's the theory? Nobody disagrees with these simple principles...
you'd be surprised with how many people think of capital as a homogeneous entity that can be factored in an equation. Heck, talk to any guy that thinks that they can plan an economy, and they'll tell you "if you have the capital and labor you can make x, or y" and so on...
This is all nice, but what about credit? Banks have existed for thousands of years in some form and now our whole monetary system is based on credit.
People don't really need to save money, and the money is mostly in stocks and bonds anyway, you can just sell some stocks of an established company and invest in a hot new startup or something.
To me it seems this makes this theory kinda deprecated. If you need money just print it, has been working for the last 50 years.
if you need money just print it.......hmmmm
you are correct that financial institutions providing credit have been around for quite a long time. How long has fiat banking been predominant? In the scheme of things? And if faced with results like the economic bubble burst in 2007/8 (or other examples around the world), how well can you say it has been working these last 50 years?
Fiat currency is the strawman in your remark
Why isn't it working in Zimbabwe or Venezuela? Why didn't it work in Argentina?
Such an unreadable comment!