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Intro to Austrian Economics

23 Jul

Worth your time. Excellent insights into the nature of economics and why a free market is vastly superior to a manipulated or controlled market

video 00:47:18

 
6 Comments

Posted by on July 23, 2013 in Economy, Education, Video

 

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6 responses to “Intro to Austrian Economics

  1. Yartap

    July 23, 2013 at 8:25 PM

    I do love and agree with the Austrian Economics theory of business cycles. And it is true that they “just tell you what happens,” and do not advise government policy. But they do not see or claim that the cycle is caused by Usury (interest charge). In a world of private baking, their theory’s stated solution is “correction” (bankruptcy) of the market. Or let businesses fail, and don’t prop them up, which I agree.

    Further, many of the Austrian economist do not adhere to the policy of Protectionism (and they say they don’t propose policy?). Many of their noted writers are against it. This only makes me question their intent. Are many One-World-ers? After reading many essays on this subject by many of them, their objective outlook goes out the window with their false claims about protectionism; and they fail in their stated mission.

    But, basically, they are the ones who predicted the housing bubble, the rise in inflation (that one was easy), and the loss of job in this country.

     
  2. Martens

    July 23, 2013 at 9:05 PM

    Free markets, like utopias of the proletariat, make for nice fantasies.

    It may be that a free market would be superior to a controlled market, but the point is moot, since a free market, like a utopia of the proletariat, is not one of the options available in the world we actually live in.

    For starters, no first world economy has ever existed under free market conditions.

    No one has even described a theoretical scenario in which a modern economy emerges outside the control of either a government or the already-existing gigantic concentrations of wealth (whose existence is conveniently ignored by the Austrian School) which instantly outmuscle all competition to create a cartel in any unregulated market.

    Secondly, power abhors a vacuum. The history of the last couple of centuries has repeatedly shown that, were government power has given way, the influence of gigantic concentrations of wealth moves in to fill the void. And this influence does not move in to play nice and fulfill naive daydreams.

    History has also shown the Austrian School to be sponsored by the same gigantic concentrations of wealth, specifically banker’s wealth based in Europe. The same bankers who underwrote the utopia of the proletariat fantasy, when it suited their purpose.

     
  3. Adrian

    July 24, 2013 at 12:45 PM

    As long as you have monopolies of power,free markets belong to the dream land.Economical
    discipline and the rule of public law should be the norm.
    In order to have a balanced economical system,you must have a balanced demographical system.
    Man is the measure of all things/Men are not created equal/Man is borne free.
    Free enterprise is dead. Scientific enterprise based on natural law and natural human rights is the answer.
    Keep religion out of human society

     
  4. Jetlag

    July 24, 2013 at 1:24 PM

    Something always rings phony about these Austrian School guys.

    Their pompous little confabs resemble a multi-level marketing recruitment session in a hotel conference room to pull in the next crop of suckers.

    And the ideas they are promoting are so cheesy and simplistic that I can’t believe they believe them.

    To agree with what has already been stated here, I smell an NWO rat.

     
    • Adask

      July 24, 2013 at 2:29 PM

      What do you think the “Austrian School guys” are “selling”? Most of what they have, they make available for free. So far as I know whatever they do sell, they sell cheap. So what is their incentive to “pull in the next crop of suckers”?

      It seems to me that the “suckers” are the ones who’ve accepted the world’s government’s version of Keynesian economics–complete with a global fiat currency–that has very nearly destroyed the US and may be about to collapse the global economy. No matter how bad Austrian economics might be, there is absolutely no evidence to even suggest that it’s worse or even as bad as the current versions of Keynesian economics.

      If you smell a NWO rat, that scent is most likely emanating from a purported Keynesian.

       
      • Jetlag

        July 24, 2013 at 5:36 PM

        What the Austrian School guys are selling is the particular brand of social change desired by the NWO at this particular point in history. Their crop of suckers includes anyone they can convince to stop believing in, and fighting for, the preservation of America and the economic status enjoyed by middle-class Americans. Someone commented earlier about their stance against protectionism (meaning the protection of American jobs). This revealing detail is only the tip of the iceberg.

        Perhaps they also sell tee shirts and coffee mugs with slogans about “freedom”, in support of their deceptive branding.

        Keynesianism was what the NWO wanted in the 20th century, during the New Deal collectivist period. Recently, the NWO’s master plan has entered its Raw Deal period of nation-state dismantling for the benefit of the super-rich, during which time Austrianism is the Kool-Aid.

        Apparently your preference is for Austrianism over Keynesianism. Be that as it may. I won’t defend either, because they are both NWO inventions. It’s a false dichotomy to think one has to choose between them. A practiced nose will smell a rat in both cases.

         

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