To: Para-Ord.45
I agree with these ideas ideologically... but as for the unforeseen results... well, it would be interesting. At least there would be more liberty than the current situation.
2 posted on
10/25/2013 11:16:30 AM PDT by
redpoll
To: Para-Ord.45
Some people also claim that allowing the economy to move unchecked allows for greater volatility and longer recessions.
The current recession/depression clearly disproves that fallacy.
3 posted on
10/25/2013 11:17:18 AM PDT by
rottndog
('Live Free Or Die' Ain't just words on a bumber sticker...or a tagline.)
To: Para-Ord.45
"An awful lot of it is predicated on fighting over turf," he claimed, "and if two gangs disagree over something, they shoot it out and kill innocent people. Whereas if two tie manufacturers had a dispute, they'd go to court. They don't shoot it out!" But no matter who wins, it's still a 'tie'......................
4 posted on
10/25/2013 11:17:52 AM PDT by
Red Badger
(The only way to defeat liberalism is to give them everything they want......then pick up the pieces.)
To: bamahead
5 posted on
10/25/2013 11:18:19 AM PDT by
bamahead
(Few men desire liberty; most men wish only for a just master. -- Sallust)
To: Para-Ord.45
6 posted on
10/25/2013 11:19:52 AM PDT by
Zeneta
To: Para-Ord.45
The Austrian School of economic thought was devised by a handful of economists in Austria in the 15th century; otherwise, it has nothing to do with the country. I question that date. That was well before Adam Smith and the Wealth of Nations. Wikipedia (yes, I know the warnings) says:
It originated in late-19th and early-20th century Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. (citing Joseph A. Schumpeter, History of economic analysis, Oxford University Press 1996).
7 posted on
10/25/2013 11:20:05 AM PDT by
KarlInOhio
(Everyone get online for Obamacare on 10/1. Overload the system and crash it hard!)
To: Para-Ord.45
An honest application of this way of thinking will arrive at the conclusion that there are some things that government can do more efficiently than the market. Those things will encompass far less than most people on the Left or Right will believe. The U.S. Constitution (as written) is a pretty good example of limiting government to its efficient ends.
8 posted on
10/25/2013 11:20:55 AM PDT by
cdcdawg
(Be seeing you...)
To: Para-Ord.45
9 posted on
10/25/2013 11:30:56 AM PDT by
Uri’el-2012
(Psalm 119:174 I long for Your salvation, YHvH, Your teaching is my delight.)
To: Para-Ord.45
A common belief is that conservatives caused the government shutdown, while liberals are the ones who want to legalize marijuana..
Do you walk to school or carry your lunch?
11 posted on
10/25/2013 11:39:34 AM PDT by
WayneS
(Don't blame me, I voted for Kodos...)
To: Para-Ord.45
According to Austrian theory, the market alone should decide the value of products and services. Okay. It's Capitalism.
12 posted on
10/25/2013 11:42:15 AM PDT by
WayneS
(Don't blame me, I voted for Kodos...)
To: Para-Ord.45
The Austrians understand the 'boom-bust' cycle and know that it is the Gov't (Fed) that causes it.
Austrian economics is pure free market!
14 posted on
10/25/2013 11:46:26 AM PDT by
fortheDeclaration
(Pr 14:34 Righteousness exalteth a nation:but sin is a reproach to any people)
To: Para-Ord.45
What part is controversial?
Besides trying to apply it to social issues
16 posted on
10/25/2013 11:51:35 AM PDT by
GeronL
To: Para-Ord.45
Some people also claim that allowing the economy to move unchecked allows for greater volatility and longer recessions. Longer recessions and high unemployment during recessions are due to government intervention which establishes an improper relationship between money wage rates and the aggregate demand for labor in the economic system.Specifically, government intervention keeps wage rates and prices too high.If, during a recession, government allowed average money wage rates and prices fall to equilibrium levels dictated by the free market in labor and goods, recessions would end more quickly like it did in 1920, when average wage rates dropped 19% and the recession was extremely short-lived as a result.(This is an example where empirical data confirm the logic of the theory.)
20 posted on
10/25/2013 12:55:34 PM PDT by
mjp
((pro-{God, reality, reason, egoism, individualism, natural rights, limited government, capitalism}))
To: Para-Ord.45
The most common criticism of Austrian economics is that it relies solely on logic, and does not seek statistical validation for its claims. A system that relies on logic in a world chock full of illogical people.
To: Para-Ord.45
“Austrian theory is not a mainstream section of economics” - since when? Keynesians came out in 1920s/30s against Austrian theory but the Austrians didn’t go away, they just became a minority over the next 60+ years.
23 posted on
10/25/2013 1:27:50 PM PDT by
reed13k
(For evil to triumph it is only necessary for good men to do nothings)
To: Para-Ord.45
No wonder Obama economics is so bad...he can’t read Austrian! lol
24 posted on
10/25/2013 1:33:52 PM PDT by
Fledermaus
(Primary and beat the RINO's.)
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