Mises Institute Preface
Apr 11, 2025
In this discussion, Jorga Guido Hülsmann, a Professor of Economics at the University of Angers and a senior fellow at the Mises Institute, introduces captivating insights from his book on economic principles. He emphasizes the vital role of gratuitous goods, like love and friendship, in understanding economic systems. Hülsmann highlights how these intangible assets influence capital accumulation and leisure. He shares his intellectual journey and argues for a more inclusive approach to economic analysis that acknowledges the value of these often-overlooked contributions.
AI Snips
Chapters
Books
Transcript
Episode notes
Gratuitous Goods Are Ubiquitous
- Life's supreme goods like love and friendship are given freely and cannot be bought.
- Even many economic goods are often received without direct payment, revealing the ubiquity of gratuitous goods.
Economics Neglects Gratuitous Goods
- Humans start and end life receiving gifts, with market exchanges in between.
- Economists have largely neglected the systematic study of gratuitous goods despite their importance.
Gratuitous Goods and Markets Symbiosis
- Gratuitous goods and markets are symbiotic and feed into each other.
- Understanding markets requires grasping how goods transfer without payment, and vice versa.