Ask An Austrian 2 - Murray Sabrin

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Question 1 @ 2:02: In "The Theory of Money and Credit" Mises emphasized that money is not a measure of value, price, or a price index. He called these ideas entirely fallacious and unscientific. What does he mean and how does this principle fit with the concept of economic calculation as laid out in Mises' famous demolition of socialism?



Question 2 @ 6:43: The IMF and the Fed are creating massive economic bubbles. What happens to the majority of the world that has been raised out of abject poverty from primarily 1st world intervention and funds?



Question 3 @ 9:12: Assuming it doesn't, why does protectionism not benefit or protect a nation's industrial base



Question 4 @ 11:55: A lot of people are bullish about the current economy, including many libertarians. Are they right, or are there reasons to anticipate another crash soon?



Question 5 @ 15:05: Let's presume by some miracle an Austrian economist is appointed chairman of the Federal Reserve board and due to external political factors, abolition is not possible. What would central banking look like under these conditions? What steps would an Austrian chairmanship take to switch to a free market currency as soon as possible?



Question 6 @ 17:11: In a truly free market economy, would we see the ups and downs in the stock market or the market in general that we have seen the past 100 years?



Question 7 @ 18:13: Is there a derivation for the existence of time preference or is it a priori?