Gary North’s concluding remarks at the initiatory debate at Mises University 2011 with Dr. Walter Block, Harold E. Wirth Endowed Chair in Economics at Loyola University on Whether it is Smart to Get a PhD in Economics…
“I have been saving this. And, for those listening on the video you must get to substantiate what I am saying a copy of Dr. Block’s speech on unemployment. He made an eloquent case against the trade unions. He made, I think, a moral case against the trade unions. The moral corruption of using government guns and badges to keep people out of a field. To create a cartel by violence and the threat of violence. To create whole industries based on violence and guns and badges. Now, if he is going to believe his own position on the evils of the trade unions and the moral evil of using violence to keep people out of the field, to keep them from teaching, to keep them from providing competitive services, to create unemployment . To lock good people out because they did not conform to the rules of the trade union. If he believes that, one more time, why are you teaching in a university at $170,000 a year? Why? And, that ain’t funny, that is a moral question.
I will tell you who my model was and he has been my model for 35 years, and that was Dominick Armentano, now he said he would never go into a state university and he taught at the University of Hartford. I thought that was a strong position. The bottom line is that if you go into academia it is a government cartel that has taken $430 billion a year out of the American economy to sell overpriced goods to students who are running up now 24,000 dollars of debt and parents running up bigger quantities paying overpriced cartelized prices for third rate products. And, if you ever ever break the cartel you are going to see the production of what really needs to be done is Walmart University. Because, I got no choice I don’t sell my soul to the devil to get his pay, thats why, Walter. That is not funny, but that is the truth. Do not sell your soul to the system that you say you don’t believe in and that your economics says is wrong when that system is a government established cartel and there are alternatives.
There is Mises Academy, there are private schools that are not regulated by the state, there are home school programs. There is a way to make a living without joining the labor union of the modern academic system. Yes, you can profit if you get on the right side of the trade. If you leap the high barrier and get across and get that tenure position. Yes, it is profitable. But, every time you hear the story about “above market wages” you gotta look for the question where is the gun? Where is the badge? And, who is being left out of the system? That is what we do as Austrian school economists. Who wins? Who Loses? When you got winners look for the losers. And, if there is a guy with a gun and and a badge standing between the loser and success I say don’t be associated with the gun or the badge!”