Episodes

10 episodes in this season

Pillars of Economic Wisdom: Part 1

45 min

Pillars of Economic Wisdom: Part 2

39 min

Now Playing

Austrian School: Part 1

36 min

Austrian School: Part 2

56 min

Chicago School

61 min

Mainstream Economics

49 min

UCLA School

53 min

The Hockey Stick

32 min

Public Choice School

29 min

E10

The West German Economic Miracle

23 min

Free Market Economics

TV Series

202636m

DocumentaryTalk

Now playing

Austrian School: Part 1

Season 1 · Episode 3 · May 29, 2026

In lecture three, we study the Austrian School of Economics through the work of Carl Menger and Eugen von Böhm-Bawerk, key figures in the marginal revolution of 1871 that challenged the labor theory of value. We examine how they introduced the idea that value is subjective and that each additional unit of a good becomes less valuable, resolving puzzles like Adam Smith’s diamond-water paradox and showing that labor does not determine value. The lecture also covers Menger’s insights on money and price formation, along with Böhm-Bawerk’s theories of capital and interest rates, laying the foundation for modern subjective value theory and market dynamics.

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Free Market Economics

TV Series

202636m

DocumentaryTalk

Now playing

Austrian School: Part 1

Season 1 · Episode 3 · May 29, 2026

More details