00:00    |    
Initial credits
00:06    |    
Presentation of Honorary Doctoral Degree in Economic Sciences to George Reisman
01:07    |    
Words by Gabriel Calzada 
Quote, The Government Against the Economy,George Reisman
Remembrance
Universidad Francisco Marroquín (UFM)
Entrance to UFM
08:00    |    
Words by George Reisman 
Significance of UFM in preserving free will and capitalism
Ludwig von Mises and Ayn Rand: Outstanding teachers
Profits are not a deduction from wages
Quote, The Wealth of Nations, Adam Smith (1776) 
Quote, Capital: Critique of Political Economy, Karl Marx (1867) 
The theory of exploitation, the nature and its extent 
Basis of wage slave 
Effects of profit motive without restrictions
Extent of the influence of Marxism in popular thinking
Quote, Capitalism: A Treatise of Economics, George Reisman (1996) 
A review of the exploitation theory 
Consequences of the inexistence of capitalists
Profit and the intervention of capitalists
Comprehension of profit as labor income in companies
Efforts of powerful men in great discoveries
Results in the highest level belong to capitalists
Intellectual labor and the profits of capital 
Responsibility and the progress of capitalists
Combination of the profit motive and competition 
Side effects of rising wages
Conclusion, the rise of the standard of living 
36:01    |    
Final credits



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Honorary Doctoral Degree to George Reisman

13 de julio de 2013   | Vistas: 16 |  

George Reissman, an advocate of objectivism and laissez-faire, was awarded an honorary doctoral degree in economics by Universidad Francisco Marroquín (UFM), in recognition of his dissemination of capitalism. He shares how his academic growth was aided by extraordinary teachers, such as Ayn Rand and Ludwig von Mises. During his discourse, he reasserts the importance of capitalism to achieve progress in society and explores how the world would be without it, relating the efforts of powerful men in history, and arguing that the profit motive has driven competition and provided development along with improvement in technology and the standard of living. Reisman concludes by claiming that education is the proper means to change paradigms, praising UFM for its efforts on such matter.


George Reisman is an economist and professor emeritus of economics at Pepperdine University. He translated Mises' The Epistemological Problems of…

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Universidad Francisco Marroquín