Ep. 1879 Free Market Economists Aren't All the Same: How the Chicago and Austrian Schools Differ

The Tom Woods Show

Tom Woods

Politics, Economics, Libertarian, Government, News

4.8 • 3.3K Ratings

🗓️ 20 April 2021

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Chicago School of Milton Friedman and the Austrian School of Ludwig von Mises and F.A. Hayek differ in important ways, and although individuals from both schools have made important contributions to the free society, it's important that we recognize these differences and choose accordingly.

Transcript

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0:00.0	The Tom Wood Show, Episode 1879.
0:03.4	Prepare to set fire to the index card of allowable opinion.
0:08.0	Your daily dose of liberty education starts here.
0:11.5	The Tom Wood Show.
0:14.4	Hey folks, a lot of your friends believe that deregulation
0:17.3	caused the financial crisis of 2008,
0:19.7	just as fervently as they believe that lockdowns
0:22.4	are the solution to COVID-19.
0:24.6	For the sake of our future, both of these ideas need to be smashed,
0:27.7	so check out my free ebook, the deregulation boogieman,
0:31.7	over at regulationmiths.com.
0:35.3	Hey everybody, Tom Woods here.
0:36.8	Today we're going to cover a topic that I guess I haven't really covered
0:41.7	over the course of all these Tom Wood Show episodes.
0:44.1	We did cover it a little bit in one episode of my old podcast
0:48.7	with Bob Murphy, Contra Krugeman,
0:50.8	but it has to do with two schools of free market economics.
0:55.2	Of course, if you're a regular listener of the Tom Wood Show,
0:58.7	you hear us talk a lot about the so-called Austrian school of economics.
1:02.4	But there's also the Chicago School of Economics.
1:05.5	That is the one Milton Friedman belongs to.
1:07.8	Milton Friedman is very well known,
	...

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