Once in a while I hear someone with no knowledge (or confused or trivial knowledge) of the Austrian School of economics trying to dismiss it as crazy, some kind of cult, etc. As the videos of this year’s Mises University program begin to appear on YouTube, I’ll feature some of them here. Here’s Professor Jeffrey Herbener, chairman of the department of economics at Grove City College, discussing subjective value and market price. Seems to me like a fairly normal guy making some fairly reasonable points.