Institute of Economic Affairs London – Free Market Masters

Source: (iealondon, 2015).

All rights reserved for the creators of the show, I do not own any of this material, see terms of use.

Video 1- Eamonn Butler presents the outstanding achievements of Ludwig von Mises, see source: (Butler, 2015). Mises is one of the great economists and political scientists which should be at the core of economic thinking refuting arguments for socialism and critiquing methodologies of mainstream economic thinking. Covering his Austrian theories which remained ignored by economic professions, policy makers and academics, despite explaining the poor performance of state health and education services.

Video 2- Craig Smith presents Adam Smith the famous historical figure depicted on the twenty pound note, known as the “father of economics”, see source: (Smith, 2015). In a world of globalisation, we can better help to understand through the writings of the modest Scottish Philosopher.

Video 3- Professor Patrick Minford presents Milton Friedman’s modern free market economic theory, see source: (Minford, 2015). An American economist who won the 1976 Nobel Memorial Prize in Economic Sciences. Friedman was an advisory to U.S. President Ronald Reagan and British Prime Minister Margaret Thatcher, where his political philosophy promotes the free market economics.

Video 4- Professor Mark Pennington presents Friedrich Hayek one of the most influential economic and political theorists, see source: (Pennington, 2015). Two of his most important contributions being (1) to explain how the market price system addresses the problem of economic coordination more effectively than government central planning and (2) to understand the role of competition in markets as a process of trial and error discovery.


Featured image supplied from Unsplash.

Resources

IEA London <https://www.youtube.com/channel/UCKVW7yfpFSz9BRNBgryX_yw>.

Advertisements