Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

The Future of the Austrian Economic's School

Economics / Economic Theory Aug 06, 2012 - 10:41 AM GMT

By: Gary_North

Economics

Best Financial Markets Analysis ArticleOn Saturday, July 28, I spoke to a group of almost 150 mostly undergraduates at the Mises Institute. They had flown in from across the USA and from 20 foreign countries. It was a week-long seminar. I was the final speaker.

It is an amazing experience for an anti-Communist of my generation to speak with a Chinese student studying economics in the USA.


One young woman from Vietnam was going back to set up a Vietnamese Mises Institute. There are already three Austrian websites in Vietnam. There is a generation of young entrepreneurs coming into the Vietnamese economy. They are receptive to my Austrian School message, which explains entrepreneurship as the crucial factor in a free economy.

Another young woman with the improbable name of Amanda BillyRock has begun a YouTube channel. She has gotten enough viewers so that someone has decided to provide funding. I think her story is typical. It was the bad economy, plus her discovery of Ron Paul, that pulled her in. She got interested enough to start a YouTube channel. This is a good sign. As she says, she knew nothing about economics and politics two years ago. She is a fast learner. This video was posted in mid-March.

There were some older people attending. They had been graduates of the program. A husband-wife team of economists from India, in their late 20s, both got teaching jobs in U.S. universities. One was in Charleston, SC. The other was in Troy, AL. I hope that arrangement does not last long.

There were at least 20 graduate students. There was a special session with Leland Yeager. I had not seen him since the second Austrian seminar held in 1975 in Hartford. That conference had about three dozen up-and-coming Austrian scholars. It may have been fewer. One of them was Roger Garrison, who is a professor at Auburn University. I think four of us at the Mises seminar who were also at that conference, plus Yeager. He is 87 years old. He knew Mises and Hayek better than I did. He had been a graduate student in the early 1950s. At that point, the Austrian School was Mises, Hazlitt, Rothbard, and Hayek, plus a few scattered men, none of whom had followings. Now he sees an international movement. This movement is growing rapidly.

These students were better versed in free market economics than most college students anywhere in the world. The Web has educated them. But a common thread was Ron Paul and his battle with the Federal Reserve. The foreign students knew about this.

It takes time to replace a failed generation. We are not revolutionaries. We must be patient. The Web is on the side of liberty. The Mises University has been teaching students for 27 years.

After my speech, I consented to be interviewed by Miss BillyRock, with this condition: she must buy some daylight-imitating (64k) fluorescent light bulbs, so that she can escape the Smurf-like effects of her laptop. She agreed. I hope she posts it soon.

Her testimony here is very good about the effects Ron Paul has had on her siblings. She has also got the Establishment nailed. This video would have been inconceivable in 2006 or earlier.

Gary North [send him mail ] is the author of Mises on Money . Visit http://www.garynorth.com . He is also the author of a free 20-volume series, An Economic Commentary on the Bible .

http://www.lewrockwell.com

© 2012 Copyright Gary North / LewRockwell.com - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in