Lecture series · recorded 1990–2004
Economics 101
Economics 101 is a free lecture series (9 recordings, 8.8 hours) you can stream or download at freecapitalists.org, with Murray N. Rothbard.
A collection of ten speeches and lectures by Murray N. Rothbard, spanning from the 1970s to the early 1990s. He is speaking in a small classroom setting, explaining economics from the ground up, and systematically in the manner of a classic 101 course on the topic—but with a revolutionary approach.
BiographiesWorld HistoryMoney and BanksBooms and BustsLegal System
Cover painting: Governor William Bradford assigns family plots of corn ground at Plymouth Colony, spring 1623. See every painting in the art gallery.
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01
1:00:22 Download MP3
Mises in One Lesson 2004
Austrian economics has nothing to do with the economics of Austria. Austrian Economics (AE) began with Carl Menger in 1871. It is based on an analysis of individual action, not aggregates or groups.
Austrian Economics OverviewCalculation and KnowledgePhilosophy and MethodologyBiographiesWorld History
Read the transcript 9,302 words
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02
53:10 Download MP3
Demand and Supply, Consumer Goods, Prices and Exchange 2004
Microeconomics starts with the basic fact that each person has short term and long term goals, like buying a ham sandwich and graduating from college. People act in the world to accomplish something. Human action is purposive. You employ different means to achieve certain goals.
Austrian Economics OverviewCapital and Interest TheoryPricesValue and Exchange
Read the transcript 10,294 words
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03
55:38 Download MP3
Money and Prices 2004
Many believe that if governments would just issue greater quantities of money then all problems would be solved. In truth that would create unsurmountable problems by lowering the purchasing power of each money unit. Money is the one good that is not made better by increasing its supply.
Austrian Economics OverviewCapital and Interest TheoryMoney and BankingPricesMoney and Banks
Read the transcript 11,121 words
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04
1:38:38 Download MP3
Banking and the Business Cycle 2004
One of the most difficult things to understand about banking is how money is created out of thin air. Current commercial bank liabilities are immediate. The banks do not have the reserves to redeem all demand notes. Thus, banks are inherently insolvent. But, government has eliminated runs on banks. Banks are not allowed to fail when they are mismanaged.
Austrian Economics OverviewBusiness CyclesMoney and BankingBooms and BustsMoney and Banks
Read the transcript 18,385 words
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05
54:40 Download MP3
Capital, Interest, and Profit 2004
Profit is total revenue minus total costs. Ours is not just a profit system, it is a profit and loss system. Losses are a sign that you wasted land, labor, or capital, yet those who make profits are criticized.
Austrian Economics OverviewCapital and Interest TheoryMoney and BankingMoney and Banks
Read the transcript 9,746 words
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06
51:00 Download MP3
Labor 2004
Minimum wage laws force unemployment up. All of those with few skills looking for an entry position will be denied because they cannot add enough value to the business labor field to be paid minimum wage. Unemployment follows minimum wage hikes. Marginal workers are being denied the labor market.
Austrian Economics OverviewProduction Theory
Read the transcript 8,946 words
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07
51:53 Download MP3
Labor and Unions 2004
Rothbard covers the principles of demand and supply curves. Prices are at the seat of the whole system. Use the logic of reality. The most mobile labor force is teenagers. Over time, capital equipment per laborer increases. Real wage rates increase. Consumer prices decrease.
Austrian Economics OverviewMonopoly and CompetitionProduction Theory
Read the transcript 9,947 words
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08
54:49 Download MP3
Conservation and Property Rights 2004
Free markets shift resources from where they are less valued to where they are most valued, benefiting consumers. When private property and free markets are allowed to operate, a natural conservation of resources occurs. Nothing is a resource unless it is useful to man.
Political TheoryPrivate PropertyLegal System
Read the transcript 10,941 words
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09
48:06 Download MP3
The Future of Austrian Economics 1990
Recorded in 1971.
Austrian Economics OverviewOther Schools of ThoughtPhilosophy and MethodologyWorld History
Read the transcript 8,063 words
People in this series
Speakers
Recording dates, summaries and topics for 9 of these 9 lectures come from the Mises Institute's page for Economics 101, checked 2026-07-23.
Community
Discussed on the forum
Threads on Mises Community, this archive's companion forum, whose titles name this course. These are reader conversations, not part of the archive.
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Economics 101 - RothbardDormant
General
Questions
About this series
- Is Economics 101 free to listen to?
- Yes. All 9 mirrored recordings stream in the browser or download as audio, at no cost and with no signup.
- How long is Economics 101?
- 9 recordings, 8.8 hours in total.
- Who lectures in Economics 101?
- Murray N. Rothbard.
- When was Economics 101 recorded?
- 1990–2004, per the recording dates recovered for this series.
- Is there a transcript of Economics 101?
- Yes. Every lecture in the series has one, 96,745 words in total, free to read on each lecture's page and searchable in the browser.
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