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Money, Monopoly, and Market Intervention


I've enjoyed teaching all of my online Mises Academy classes, but I have never been more excited than I am to teach the upcoming class Money, Monopoly, and Market Intervention. This course covers the final three chapters in Murray Rothbard's classic treatise Man, Economy, and State. It is hands-down the most "fun" section of Rothbard's book, and I know fans of the Austrian School will love walking through his brilliant analysis step by step.

The Scope of the Course

The course runs for eight weeks, from October 5 through November 23. As usual, the price is a very reasonable $145. We will move methodically through the last three chapters of Rothbard's treatise. Although this covers some 400 pages, I promise that Austrian students will love every section.

Ideally students will read his text in the original, but those who are able to make only a smaller time commitment can still benefit from the course if they rely on my (much shorter) study guide instead. Students who took my earlier classes, covering the earlier sections of the book, will obviously fit right into this class, but the prior classes are not prerequisites. Much of the material in the final three chapters consists of stand-alone critiques of mainstream concepts and techniques, and even those portions that do rely on a basic knowledge of economics should not prove difficult for the typical reader of

As the title of the class suggests, in Money, Monopoly, and Market Intervention, I will spell out Rothbard's contributions in these major areas. I encourage interested readers to click on the nearby thumbnail to see the full syllabus — just look at how much Rothbard packs into these three chapters!

For example, in chapter 10 Rothbard offers a thorough critique of the notion of "consumer sovereignty" and its implicit attack on the free market. In chapter 11 he offers what I consider to be the most succinct refutation of Keynesian analysis ever penned. In chapter 12, Rothbard presents a clear statement of Austrian business-cycle theory, providing the reader with a comprehensive analysis of fractional-reserve banking along the way.


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