Free market capitalism coordinates every stage of every production desired by consumers as if by magic. Knowing Austrian economics will allow you to see which public policies are disastrous to this productivity. Unintended consequences, opportunity cost, and pricing theory are fundamental concepts to explain human action.

Presented by Robert P. Murphy at the "Economics for High School Students" seminar. Recorded at the Mises Institute in Auburn, Alabama; 20 November 2009.  Sponsored by Jeremy S. Davis.