Patrick Newman introduces Austrian capital theory: how savings, time, and production structures drive economic growth. Without capital goods and roundabout production, we’d still be living like primitive hunters, and without savings, growth halts altogether. Recorded at the Mises Institute in Auburn, Alabama, on July 22, 2025. Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.