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George Soros Astounded to Hear about the Austrian Business Cycle Theory

Alexander Habighorst
Jun 24, 2010 at 5:05 PM
By Alexander Habighorst

At about four minutes into this video, the interviewee basically describes to Soros the Austrian theory of the business cycle -- that is, how governments print money and cause malinvestment which creates bubbles. Soros seems to be quite astounded by this, and the look on his face is really worth it after hearing him preach for two minutes about the need for greater regulation.

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Good to see Austrian economics is making its way to the orient. Surely its effects will prove far more positive than the West's last major economic export to that part of the world (Marxism).

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Submitted by Wesley Messamore on June 24, 2010.

This guys answer to a perfectly logical point about Hoover's intervention in the market in 1929 was, "Come on." WOW. What an AMAZING counterpoint. How come I never thought about that. 

This guys lack of understanding of economics is mind boggling. How does a moron like this end up on stage being seriously questioned by other people. He only serves to dumb down the rest of society even more. He offered absolutely no evidence for any of his claims. He simply stated things as if there were facts such as, "Without regulators the markets would collapse, and keep on collapsing." He offered no supporting evidence whatsoever to support this claim. 

After listening intently to the audio books of For a New Liberty and The Ethics of Liberty, this guy really makes me mad. How can an absolute genius like Rothbard be ignored after putting together such an amazing, well thought out, logical book and this imbecile is put on stage and treated as if he actually could tell the difference between his ass and a hole in the ground? 

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Submitted by J (not verified) on June 24, 2010.

Rothbard is not a genius. How wealthy did Rothbard become with his theories?With economics the proof is in the pudding: People who have a profound understanding of economics (like Soros) use this understanding to become extremely wealthy. What is the excuse Austrian economists use for their relative poverty compared to people like Soros and Buffett? Too busy writing books? What a joke.

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Submitted by J Isbell (not verified) on January 27, 2011.

This guys lack of understanding of economics is mind boggling. How does a moron like this end up on stage being seriously questioned by other people. He only serves to dumb down the rest of society even more. He offered absolutely no evidence for any of his claims. He simply stated things as if there were facts such as, "Without regulators the markets would collapse, and keep on collapsing." He offered no supporting evidence whatsoever to support this claim. Albart

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Submitted by passionlab (not verified) on July 4, 2011.