Love it. It is rather unfortunate however.
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Love it. It is rather unfortunate however.
Started a thread, Im gonna send the word out to all the other old fuckers..
Place for dummies...
Place for dummies...
There are certain aspects of Austrian theory that are almost undeniably correct and have been great contributions to the field of economics, particularly regarding unemployment:
1: (Involuntary) unemployment is caused by excessive real wages.
2: Using inflation to reduce real wages (i.e., if the wage is fixed in nominal terms, then ceteris paribus inflation reduces the real wage) is at best unreliable, and in any case not a long-term solution to the problem of unemployment.
The biggest problem I see in the austrian business cycle is that entrepreneurs must be irrational actors for it to be true. The problem is supposed to be that businessmen just look at current interest rates, figure out the PDV of possible investments, and due to artificially low interest rates (which obviously can't last forever) they wind up making bad investments. But why couldn't they just use the credit market's long-term interest rates for forecasting profitability instead of looking at current short-term rates??
The Austrian theory does not predict an increase in employment during a boom, or a decrease in employment during a bust. It also predicts an increase in output during a bust.
i beleive what the school teaches is that they are not irrational but there is a simple means/ends framework,and that it is subjective. this video should fill in most of the gaps and explain the differences in the schools.
Austrian vs. Neoclassical Analytics | Robert P. Murphy
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as far as a gold standard goes did you know that the dollar is still valued and held by the IMF at 42.22 a ounce? please let me know where to find that deal.
Ben Bernanke Tells Ron Paul Gold Is Not Money!!! - (July 13, 2011)
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http://www.federalreserve.gov/econresdata/releases/intlsumm/usresvassets20120930.htm
"Gold held "under earmark" at Federal Reserve Banks for foreign and international accounts is not included in the gold stock of the United States; see table 3.13, line 3. Gold stock is valued at $42.22 per fine troy ounce."
the problem is we cant use it,because of the monopoly the FED has.
im in the boat of competeing currencies and minters ect.... they really dont have to end the fed, it will end itself if its made to compete,they would certainly have to,at the very least reform themselves.
Ron Paul- Domestic Monetary Policy Subcommittee Hearing - 8/02/2012
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the most insidious part of this monopoly is that unless you have gold and silver you cant pay off any debts lawfully.
your just transfering the debt obligation of the US around.you inccur a fee simply by using it called a income tax.
you become a treasurey agent by contract,and they have evidence of that contract simply because you cant use anything else.thats why taxes are volentary ,but you'll go to jail if you dont pay the user fee.
also since it is a debt of the united states,they have a first lein on everything,meaning you pay to use the stuff you think you own.we only have custodial title.
i know this isnt what everyone wants to hear but its the truth as far as i can tell.
well im off for a little while have a good one gent's.
unspoken
Member
See UK vs. Spain for why this is a bad idea.
Also, I'm going to throw this out there...Libertarians are pretty much the communists of now. You both have this idea of utopia that has never been demonstrated or proven, but somehow you "know" it will work.
"As there is no discernible regularity in the emergence and concatenation of ideas and judgments of value, and therefore also not in the succession and concatenation of human acts, the role that experience plays in the study of human action is radically different from that which it plays in the natural sciences. Experience of human action is history. Historical experience does not provide facts that could render in the construction of a theoretical science services that could be compared to those which laboratory experiments and observation render to physics. Historical events are always the joint effect of the cooperation of various factors and chains of causation. In matters of human action no experiments can be performed. History needs to be interpreted by theoretical insight gained previously from other sources." -Mises
Where are these other sources? Seems from this end that "other sources" are a bunch of guys sitting around thinking and ignoring reality.
Also, I'm going to throw this out there...Libertarians are pretty much the communists of now. You both have this idea of utopia that has never been demonstrated or proven, but somehow you "know" it will work.
"As there is no discernible regularity in the emergence and concatenation of ideas and judgments of value, and therefore also not in the succession and concatenation of human acts, the role that experience plays in the study of human action is radically different from that which it plays in the natural sciences. Experience of human action is history. Historical experience does not provide facts that could render in the construction of a theoretical science services that could be compared to those which laboratory experiments and observation render to physics. Historical events are always the joint effect of the cooperation of various factors and chains of causation. In matters of human action no experiments can be performed. History needs to be interpreted by theoretical insight gained previously from other sources." -Mises
Where are these other sources? Seems from this end that "other sources" are a bunch of guys sitting around thinking and ignoring reality.
i think what he is saying is that, human action isnt predictable unless you want a tolitarian/tolitarian-light state,and applying the scientific method to a human population is immoral,that is to say we are the lab mice for the PhD's experimentation.
being free from these constraints is liberty.it begins with owning yourself and being free of force and fraud.then the market begins to allocate resoures witch are finite,into productive ereas,the private sector.
its the opposite of the state owning the means of production,wich is the product of your lifes work (refering to communisim).it isnt government working in tandem with corperations(mercantilisim), either, its mutual contracts enforcible by the judial branch.
i recently seen a debate over this issue and its between a anarcho-capitalist and a mainstream guy,i think some insight may be gleamed,because we are not the boogey men everyone else wants to make us out to be.
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being free from these constraints is liberty.it begins with owning yourself and being free of force and fraud.then the market begins to allocate resoures witch are finite,into productive ereas,the private sector.
its the opposite of the state owning the means of production,wich is the product of your lifes work (refering to communisim).it isnt government working in tandem with corperations(mercantilisim), either, its mutual contracts enforcible by the judial branch.
i recently seen a debate over this issue and its between a anarcho-capitalist and a mainstream guy,i think some insight may be gleamed,because we are not the boogey men everyone else wants to make us out to be.
[YOUTUBEIF]1AcUkA0tq28[/YOUTUBEIF]
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Those who seek absolute power, even though they seek it to do what they regard as good, are simply demanding the right to enforce their own version of heaven on earth. And let me remind you, they are the very ones who always create the most hellish tyrannies. Absolute power does corrupt, and those who seek it must be suspect and must be opposed. Their mistaken course stems from false notions of equality, ladies and gentlemen. Equality, rightly understood, as our founding fathers understood it, leads to liberty and to the emancipation of creative differences. Wrongly understood, as it has been so tragically in our time, it leads first to conformity and then to despotism. Fellow Republicans, it is the cause of Republicanism to resist concentrations of power, private or public, which enforce such conformity and inflict such despotism. It is the cause of Republicanism to ensure that power remains in the hands of the people
~Barry Goldwater
the fuck has happened?
I mean I'm all for it, if you look at the progressive states we have the money, technology, and they have the farms and some seriously delusional people. I'd be cool buying food from Umerica. Then again we would have way less citizens, and we could actually live locally
~Barry Goldwater
the fuck has happened?
I mean I'm all for it, if you look at the progressive states we have the money, technology, and they have the farms and some seriously delusional people. I'd be cool buying food from Umerica. Then again we would have way less citizens, and we could actually live locally
pretty much what they said about electricity...lazers...airplanes...genetic modification...
gotta start somewhere.
gotta start somewhere.
unspoken
Member
I think you've asserted your clear lack of understanding on Keynesian economics. I'm not gonna rant either.
