SmarterthanYou
rebel
this delusional shit above is why you shouldn't have the right to vote.
Supreme Court appears set to strike down Colorado ruling to kick Trump off ballot
- Thread starter ziggy
- Start date
this delusional shit above is why you shouldn't have the right to vote.
SmarterthanYou
rebel
more feminist delusion above. A clear indicator that you can only function on emotion and not facts
evince
Truthmatters
Nope
I’ve heard the debate you offered before
Managing an economy depends on making adjustments in the correct order
Now interests rate lowering is one of the next steps
Very likely going down soon
Depending on the patterns
It worked Damo
Why do you continue to embrace failure?
Austrian school ideas are failed crap
Why support failed crap?
SmarterthanYou
rebel
yet that isn't what he's done, otherwise there wouldn't be more blacks and hispanics moving towards trump
evince
Truthmatters
Your the one who walks around swinging your gonads at everyone
That’s pretty EMOTIONAL huh
NiftyNiblick
1960s Chick Magnet
Republicans are so willing to have a not merely miserable but obscenely horrific candidate
because they wish to be accurately represented.
Trumpanzees don't want a human;
they want an orangutan to champion the views of the mutated and devolved.
Also, it's getting very difficult to find anyone among the other possible Republican candidates
who him or herself is a not also a depraved, despicable, and disgusting subhuman mutant.
Humans are clearly a minority on the SCOTUS, so mutant-friendly decisions are to be expected from them.
SmarterthanYou
rebel
based upon who the DNC gave you to vote for, her or a republican, no matter how awful the Democrat is, you are going to vote for the Democrat. That means you're fucking stupid.
evince
Truthmatters
Thanks for proving you know nothing of the subject
Why is the economy doing so well?
SmarterthanYou
rebel
more delusion with a sprinkle of projection.
evince
Truthmatters
Why has Austrian school ideas failed every time the right insists on them being implimented?
Phyllis Diller
Was it me?
Geeko Sportivo
Verified User
If I thought anyone was awful, I would not vote for anyone awful!
The Democrats have never had awful candidates, and I could care less of your opinions of any of them.
My choice to vote for who I choose, has to do with my opinions of candidates, NOT YOUR CRAZY opinions of them.
evince
Truthmatters
https://en.m.wikipedia.org/wiki/Schools_of_economic_thought
Let’s talk about these schools and how the differ then
So you can understand this subject
Let’s talk about these schools and how the differ then
So you can understand this subject
evince
Truthmatters
Notable schools or trends of thought in economics in the 20th century were as follows. These were advocated by well-defined groups of academics that became widely known:
Austrian School
Biological economics
Chicago School
Constitutional economics
Ecological economics
Evolutionary economics
Free-market anarchism
Freiburg School
Freiwirtschaft
Georgism
Institutional economics
Keynesian economics
Marxian (Marxist) and neo-Marxian economics
Neo-Ricardianism
New classical macroeconomics
New Keynesian economics
Post-Keynesian economics
Public Choice school
School of Lausanne
Stockholm school
Austrian School
Biological economics
Chicago School
Constitutional economics
Ecological economics
Evolutionary economics
Free-market anarchism
Freiburg School
Freiwirtschaft
Georgism
Institutional economics
Keynesian economics
Marxian (Marxist) and neo-Marxian economics
Neo-Ricardianism
New classical macroeconomics
New Keynesian economics
Post-Keynesian economics
Public Choice school
School of Lausanne
Stockholm school
evince
Truthmatters
https://en.m.wikipedia.org/wiki/Austrian_school_of_economics
Criticism
edit
General
edit
Mainstream economists generally reject modern-day Austrian economics, and argue that modern-day Austrian economists are too unwilling to use mathematics and statistics in economics.[84] The Austrian Economics school is a small group involving largely online Libertarians, with not much academic support and mainstream economists disagree with many of the views its adherents accept.[85] The Austrian School publishes few articles in mainstream journals because they lack testable hypotheses in their propositions.[86] The Austrian economists also publish relatively little in mainstream journals because they rarely use mathematics.[81] Austrian opposition to mathematization extends to economic theorizing only, as they argue that human behavior is too variable for overarching mathematical models to hold true across time and context. Austrians do, however, support analyzing revealed preference via mathematization to aid business and finance.[87]
Economist Paul Krugman has stated that Austrians are unaware of holes in their own thinking because they do not use "explicit models".[88] In reality during a recession a strong negative multiplier effect reduces output in all parts of the economy.[89]
Economist Benjamin Klein has criticized the economic methodological work of Austrian economist Israel M. Kirzner. While praising Kirzner for highlighting shortcomings in traditional methodology, Klein argued that Kirzner did not provide a viable alternative for economic methodology.[90] Economist Tyler Cowen has written that Kirzner's theory of entrepreneurship can ultimately be reduced to a neoclassical search model and is thus not in the radical subjectivist tradition of Austrian praxeology. Cowen states that Kirzner's entrepreneurs can be modeled in mainstream terms of search.[91]
Economist Bryan Caplan has noted that Mises has been criticized for overstating the strength of his case in describing socialism as "impossible" rather than as something that would need to establish non-market institutions to deal with the inefficiency.[92]
Taxation and welfare
edit
Economist Jeffrey Sachs argues that among developed countries, those with high rates of taxation and high social welfare spending perform better on most measures of economic performance compared to countries with low rates of taxation and low social outlays. He concludes that Friedrich Hayek was wrong to argue that high levels of government spending harm an economy and "a generous social-welfare state is not a road to serfdom but rather to fairness, economic equality and international competitiveness".[93] Nordic countries, Denmark, Finland, Norway, and Sweden promote industrial flexibility by public sector education and retraining to eliminate declining industries. These nations also do research and development and create new sectors. Nordic nations have higher employment rates than the English speaking nations.[94]
Austrian economists can at most maintain it is impossible to determine the effects of government on "social utility". Some people lose while the intervener gains, therefore one cannot make claims over social utility without comparing interpersonal welfare, which Austrian economics denies is possible. If state action cannot be endorsed through claiming efficiency logically state action cannot be denied either claiming efficiency. Austrian economics at most leads to total uncertainty over possible benefits of statism.[81]
They don’t like using math to do economics
Criticism
edit
General
edit
Mainstream economists generally reject modern-day Austrian economics, and argue that modern-day Austrian economists are too unwilling to use mathematics and statistics in economics.[84] The Austrian Economics school is a small group involving largely online Libertarians, with not much academic support and mainstream economists disagree with many of the views its adherents accept.[85] The Austrian School publishes few articles in mainstream journals because they lack testable hypotheses in their propositions.[86] The Austrian economists also publish relatively little in mainstream journals because they rarely use mathematics.[81] Austrian opposition to mathematization extends to economic theorizing only, as they argue that human behavior is too variable for overarching mathematical models to hold true across time and context. Austrians do, however, support analyzing revealed preference via mathematization to aid business and finance.[87]
Economist Paul Krugman has stated that Austrians are unaware of holes in their own thinking because they do not use "explicit models".[88] In reality during a recession a strong negative multiplier effect reduces output in all parts of the economy.[89]
Economist Benjamin Klein has criticized the economic methodological work of Austrian economist Israel M. Kirzner. While praising Kirzner for highlighting shortcomings in traditional methodology, Klein argued that Kirzner did not provide a viable alternative for economic methodology.[90] Economist Tyler Cowen has written that Kirzner's theory of entrepreneurship can ultimately be reduced to a neoclassical search model and is thus not in the radical subjectivist tradition of Austrian praxeology. Cowen states that Kirzner's entrepreneurs can be modeled in mainstream terms of search.[91]
Economist Bryan Caplan has noted that Mises has been criticized for overstating the strength of his case in describing socialism as "impossible" rather than as something that would need to establish non-market institutions to deal with the inefficiency.[92]
Taxation and welfare
edit
Economist Jeffrey Sachs argues that among developed countries, those with high rates of taxation and high social welfare spending perform better on most measures of economic performance compared to countries with low rates of taxation and low social outlays. He concludes that Friedrich Hayek was wrong to argue that high levels of government spending harm an economy and "a generous social-welfare state is not a road to serfdom but rather to fairness, economic equality and international competitiveness".[93] Nordic countries, Denmark, Finland, Norway, and Sweden promote industrial flexibility by public sector education and retraining to eliminate declining industries. These nations also do research and development and create new sectors. Nordic nations have higher employment rates than the English speaking nations.[94]
Austrian economists can at most maintain it is impossible to determine the effects of government on "social utility". Some people lose while the intervener gains, therefore one cannot make claims over social utility without comparing interpersonal welfare, which Austrian economics denies is possible. If state action cannot be endorsed through claiming efficiency logically state action cannot be denied either claiming efficiency. Austrian economics at most leads to total uncertainty over possible benefits of statism.[81]
They don’t like using math to do economics
SmarterthanYou
rebel
and there is your entire problem..............you're a brainwashed un-saveable idiot.
evince
Truthmatters
Mises surmised that government manipulation of money and credit in the banking system throws savings and investment out of balance, resulting in misdirected investment projects that are eventually found to be unsustainable, at which point the economy has to rebalance itself through a period of corrective recession.[79] Austrian economist Fritz Machlup summarized the Austrian view by stating, "monetary factors cause the cycle but real phenomena constitute it."[80] This may be unrealistic since successful entrepreneurs will realise that interest rates are artificially low and will adjust their investment decisions based on projected long term interest rates.[81] For Austrians, the only prudent strategy for government is to leave money and the financial system to the free market's competitive forces to eradicate the business cycle's inflationary booms and recessionary busts, allowing markets to keep people's saving and investment decisions in place for well-coordinated economic stability and growth.[79]