WEEKEND WATCH 56: AUSTRIAN ECONOMICS AND LIBERTARIANISM Have you ever wondered about the difference between Austrian economics and Libertarianism? Are they same or is there any difference? Or are they very different? And why is it that every Austrian economist is a Libertarian? We have posted a lot of videos on both these concepts. But, today, we have a video that will explain the difference between these two. Our today’s recommendation for weekend watch will answer all these questions and many more. Professor Walter Block explains the differences and similarities between Austrian economics and Libertarianism. Austrianism is a theory of economics and Libertarianism is a theory of moral philosophy. Austrianism is a positive science whereas Libertarianism is a normative science. However, it does not end here. There is much more to these concepts and its just a click away! Professor Block explains the concepts with several analogies and examples. He gives examples of minimum wages, property rights, income distribution etc. He doesn’t hesitate to use the basic economic concepts to further clarify the doubts. Professor Walter Block is an Austrian school economist and an Anarcho libertarian philosopher. He is a senior fellow at the Ludwig Van Mises Institute. He also holds the Harold E. Wirth Eminent Scholar Endowed Chair in Economics at the J.A. Butt School of Business at Loyola University, New Orleans. Go ahead and give this interesting talk a watch. It will take you to philosophy, economics, politics and all this while you will be constantly smiling as Professor Walter Blocke sure has a very good sense of humor. Feel free to tell us if you agree/disagree or share any other thoughts or opinion you have on these issues. Happy watching! goo.gl/T02hCe
Posted on: Fri, 28 Nov 2014 13:34:27 +0000
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