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Ep. 1984 Why Ludwig von Mises Mattered (and a Word on the Dopes Who Misunderstand Him)

The Tom Woods Show

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The Long Run Price Equilibrium

The real prices are the prices that are fluctuating moment to moment on the stock market, and even in stores. I mean, yu o discounts and so on, they're continually changing. And those are the Prices that we need science to explain. These other prices, the long run price equilibrium prices, they're just aids in our thought. They're not something that you need to worry about as a business person or as a consumer. Ab these people are worrying about the real prices that they're either receiving or that they're paying.

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