The Tom Woods Show Ep. 2452 Hayek's Nobel Prize, 50 Years Later
Feb 16, 2024
Mark Skousen joins us to discuss the significance of FA Hayek's Nobel Prize-winning work, including the concept of structure production and the importance of understanding the supply chain and gross output. The limitations of GDP as a measure of the economy are discussed, as well as the advantages of investing in gold and the Austrian theory of the business cycle.
Chapters
Transcript
Episode notes
1 2 3 4 5 6
Introduction
00:00 • 2min
Let's Make a Deal & Hayek's Encouragement
01:38 • 16min
Hayek's Nobel Prize and Structure Production: Understanding the Supply Chain and Gross Output
18:04 • 6min
Limitations of GDP and the Importance of Gross Output
23:35 • 15min
Investing in Gold and the Austrian Theory of the Business Cycle
38:23 • 4min
Economy, Imbalances, and the Business Cycle
42:20 • 5min