Mark Skousen talks about the four characteristics of the classical model of macroeconomics: Virtue of saving, sound money, balanced budget and laissez-faire government. He also exposes the Keynesian macroeconomic theory, created in the 1930s by John Maynard Keynes, which is mainly based on the idea of big spending, and mentions the four stages of production in a macroeconomic model. He comments on the fact that the more economic freedom a country has, the higher its capital income, and shares a chart that compares job creation in Europe, the United States, and Canada, which shows that Europe, due to the labor unions, is not creating new jobs while the United States and Canada are. Skousen makes reference to his book: Economics of Pure Gold Standard, which explains the origin of money and its evolution over time. Finally, he cites Ludwig von Mises on the fact that the government is the only agency that can make money completely worthless.
Mark Skousen is a well-known American economist. He has taught economics and finance at several universities including Columbia Business School, Barnard College, Rollins College, and Columbia University. He is the author of Economic Logic and Persuasion versus Force. He also writes for several investment newsletters, including Forecasts & Strategies. Skousen lectures and writes articles for several organizations, including the Cato Institute, the Foundation for Economic Education, and the Mont Pelerin Society. He holds a PhD in economics from George Washington University.