I've abandoned free market principles to save the free market system.

In a world of conventional confusion, there will be time for them to make profits.

Now's not that time.

Daddy, what do taxes pay for?

Oh, why everything?

Policemen, trees, sunshine.

And let's not forget the folks who just don't feel like working, God bless them.

Don't be afraid.

I'll feel free to unshackle your mind.

An idea whose time has come cannot be stopped by any army or any government.

Your professor has arrived.

Tom Woods.

Beware, citizen, you are now departing from the world of allowable opinion.

The Tom Woods Show.

Welcome, everybody. It's Monday, March 17, 2014. Happy St. Patrick's Day to all you guys.

I'm talking about the Austrian business cycle theory today. What causes boom and bust in the economy?

And I know a lot of you listeners are longtime students of Austrian economics, but not everybody. And some folks are just getting into this

for the first time. And so I thought this is a topic that we all need to know about. And it's a topic

that even if you're an advanced student, you can always deepen your understanding

of it. What is it that makes the economy go up and down? As we've seen time and again,

is this an inherent feature of the market economy, as Karl Marx believed, or is there something

else going on? That's what we're going to talk about today with

...