-Hayek can suck a dick - Austrian Economics is just wrong, through and through. I’m currently writing a paper on collective perception in markets, should show how much of a douche AET is.
-it’s not really a free market experience. You are taking people who made their money in different markets, and dropping a boatload of cash into an area.
It’s like saying “I can win monopoly without money or collecting from passing GO” when you already have hotels on all the blues, greens, and yellows.
You won’t know if it succeeds or not until 60 or so years when someone is born, doesn’t get help from his/her parents, and we can see how far they get by time they are middle aged.
The last three criticisms aren’t all that bad. This is not a good experiment as scientific proof. It might be a good economic idea, but still not a proof that capitalism will work. It’s an exception, after all.
haha Here is a response to you guys, never once brought yall up
As for the Austrians, they’d forgo rapid resource allocation and the exponential improvements in our living standards since the Industrial Revolution just to avoid a few recessions. Fuck that. I’m not living in medieval squalor based on fear of relatively brief periods of economic contraction.
Scurry back to a Mises/Hayek forum and debate the virtues of AET with a couple of other shut-ins that read The Road to Serfdom and now think they’re economic scholars.
I was saying Austrian economist predicted most of the economic collapse happening.
A response from a Rogan board member same one as above^^^:No they didn’t. They just predict there will be business cycles including downturns in general. Which is met with a major, “No shit!” Not exactly predictive when Keynes himself said this shit would happen and provided a solution for it, i.e. counter-cyclical stimulus and austerity (both monetary and fiscal). Don’t blame him that our politicians are fuck heads that can’t follow through which then forces the central banks to act less conservatively than they’d like. Keynesian philosophy is sound, the people are flawed.
“resource allocation” is a euphemism. Its actually cronyism. Debate the merits of the king and his friends getting to make money while everyone else has to work for it.
but what happens when you have to move out of your parents basement and all the entry-level jobs are gone because of crony capitalists outsourcing labor overseas and minimum wage is $16/hr?
link to the wikis of austrians who made successful predictions. There is a mises wiki. Tell him that economic policy needs to be designed for people who exist, not theoretical people who make different decisions.
So i recieve a response from an earlier poster. The same poster who said F*** Hayek.
Basically i asked what books has he read by Hayek or any dealing with Austrian Economics.
His response:Road to serfdom and individualism and economic order. I do not disagree with everything he says, but I am not a fan of AET. I’m studying towards a degree in PPE and as such have come into contact with his work on several occasions. But I’m not thoroughly versed in all of his works. Just the basic logical constructs etc.
This is a dangerous experiment. Remember that the city still exists within the confines of a larger sovereignty which has been plagued with poverty in large part as a result of socialistic polices, cronyism and foreign exploitation. If the Hondurans and their government are such big believers in free markets, why not free their own markets? Also, the caricature of free markets as some kind of “dangerous experiment” that has to be walled off from the rest of society is dangerous and counter-productive to the perception of what free markets are really about.
What the Honduran government really wants is an ATM machine. I think that comparisons to HK are premature and basically incorrect.