The Tom Woods Show, Episode 1830.

Prepare to set fire to the index card of allowable opinion.

Your daily dose of liberty education starts here.

The Tom Woods Show.

Hey everybody, Tom Woods here talking today about an important date in the history of Austrian

economics. We're celebrating the 150th anniversary of it this very year.

And of course, I want to start by making sure, but he understands what we mean by

Austrian economics, especially again, since I have a big batch of new listeners.

Has nothing to do with the economics of Austria, which is a not very big European country,

that's not the point. It's a school of economics just like the Chicago School of Economics is not

concerned about the economy of Chicago. It's just that its major practitioners come from the

University of Chicago and the early Austrian school economists come from Austria, although most

Austrian economists today, I would say are probably educated in the United States. So they're not

Austrian. So that's not, it has nothing to do with being from Austria by and large except at

the very beginning. But it's a school of economic thought to which such luminaries as Lubrii

Van Mises and F.A. Hayek, who won the Nobel Prize, Belong and great many others.

And of course, it so happens that a lot of libertarians and conservatives are very sympathetic to

or actually members of the Austrian School of Economics. It's not a physical school obviously.

It's a way of thinking. It's an approach to economics. And it's an approach that to my mind

brings economics alive, makes it seem real, realistic, applied to real people. It's readable,

it's absorbing. You are instantly compelled to adopt it, I feel, when you read it. You feel

like you're really learning about how the world actually works. So I even have a little recommended

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