0. Preface to Reisman's Lectures on Capitalism

0. Preface to Reisman's Lectures on Capitalism

Author: George Reisman September 7, 2020 Duration: 2:36

OBJECTIVES

1. To provide the student with a comprehensive knowledge of the nature, foundations, and operations of a division-of labor, capitalist society, with special emphasis on the institutions of private ownership of the means of production, competition, the profit motive, and the price system as the basis for economic coordination and economic progress. The consequences of government intervention with respect to these institutions will be considered in depth.

2. To teach the student to think of economic phenomena in terms of their long-run effects on all groups, not merely their short-run effects on those directly concerned.

OVERVIEW

The course will focus on five main current problem areas: 1) The validation of economic activity and fundamental economic institutions in the face of widespread criticisms. 2) Environmentalism and energy supplies. 3) Economic “planning” and the reasons for the worldwide collapse of socialism. 4) The monopoly question and antitrust policy. 5) Prevailing ideas on the nature of productive activity and the effect of government intervention on the standard of living of the average wage earner.

Two leading themes of the course will be 1) The possibility of continuous economic progress based on the combination of economic freedom, private ownership of the means of production, division of labor, saving, and technological progress. 2) The ethical implication of the harmony of the rational self-interests of all men under capitalism.


For anyone who has ever wanted to sit in on a rigorous university course about the economic system that shapes our world, The Capitalist Professor with George Reisman, Ph.D.-Free College Courses on Capitalism opens the classroom doors. Hosted by George Reisman, a Pepperdine University Professor Emeritus of Economics and the author of the seminal work *Capitalism: A Treatise on Economics*, this series transforms his detailed academic lectures into an accessible audio format. Each episode functions as a chapter in a comprehensive education, delving into the principles, history, and philosophical underpinnings of capitalist theory without the tuition fee. You’ll hear Reisman’s direct, scholarly analysis, breaking down complex ideas on production, prices, profit, and the market process with the clarity of a seasoned educator. This isn't a casual interview show but a structured curriculum, offering listeners the rare opportunity to absorb a full, systematic defense and explanation of capitalism from one of its most dedicated intellectual proponents. Tune into this podcast for a methodical and thought-provoking journey through economic theory that challenges conventional narratives and provides a foundational understanding straight from the lecture hall.
Author: Language: English Episodes: 28

The Capitalist Professor with George Reisman, Ph.D. - Free College Courses on Capitalism
Podcast Episodes
6. Capitalism Microeconomics - Production, Prices & Wages [not-audio_url] [/not-audio_url]

Duration: 3:04:00
Tendencies toward uniform prices over space and time; applications to the Arab oil embargo and commodity speculation. Tendency toward a uniformity of wage rates at any given level of ability. Equal pay for equal work. Pe…
5. Capitalism Microeconomics: Demand and supply [not-audio_url] [/not-audio_url]

Duration: 3:12:22
Demand and supply curves. The law of demand. Elasticity of demand. The uniformity-of-profit principle and its applications to consumer sovereignty, economic progress, farm subsidies, rent and price controls, profit taxes…
4. Capitalism Microeconomics: Division of labor [not-audio_url] [/not-audio_url]

Duration: 3:14:44
The division of labor as the central requirement of a high and rising output per capita; its advantages and alleged shortcomings. Dependence of the division of labor on the economic institutions of capitalism, especially…
2. Capitalism Microeconomics: Role of wealth in human life [not-audio_url] [/not-audio_url]

Duration: 3:21:09
The role of wealth in human life. “Scarcity” and the limitless need for wealth. The law of diminishing marginal utility and its reconciliation with the limitless need for wealth. READINGS Reisman: Chapter 2 27 von Mises,…
1. Capitalism Microeconomics: Nature and value of economics. [not-audio_url] [/not-audio_url]

Duration: 2:28:16
Week 1 Introduction: The nature and value of economics. An overview of the subject’s content and history. Principal applications. The philosophical foundations of economic activity. Economics and capitalism. READINGS Rei…