If I could, I would suggest to all to read Hayek’s Choice in Currency. It’s cheap (it can also be found free on this website), it’s short, and it’s very good. It is a recap of Hayek’s criticism of inflationism, written in 1976.
I’m favour of printing money: I will print money. The rest of you can “benefit” from it. Deal?
Ravochol,
At Jonathan’s suggestion, here is the brilliant refutation you are looking for: Choice in Currency.
I am very happy to read that.
Why must one jump to the nonsensical conclusion that because someone advocates a decrease in some sort of spending (created under the guise of “helping the disadvantages,” which subsequently failing miserably), they want the disadvantaged to die off? Sign of a weak debator? I think so.
Economics in One Lesson is your friend, ravochol.
"How many more condos are needed in Florida?
ENOUGH FOR ALL THE HOMELESS PEOPLE"
Too funny haha.
Since we live in a world of infinite supply and scarce resources are just a capitalist myth to exploit the working class you’re right; we absolutely should just use those resources to supply everyone, no matter whether they contribute any productivity to society or not, with whatever consumption goods their heart desires. Surely that’s smarter and more equitable than engaging in that silly practice of capital accumulation? Who needs capital in a world (Garden of eden?) where resources aren’t scare and opportunity cost doesn’t exist, am I right? And for gods sake people, who would want to live in a world where you have to actually work and contribute something to your fellow man in exchange for the things you desire? How tedious. Don’t you silly people know that we could all just be sitting around all day, drinking free booze in our new condos while arguing economics and politics? But no, you just insist on inflicting misery upon yourselves and others by believing in the scarcity boogie monster and basic economics.
I want my damn condo, people. So just cut it out with all this negative talk about “scarcity” and “incentives” already will you.
Vote ravochol for our benevolent economic central planner? Who’s with me? The good life for all!
We could argue with Ravochol about the economics of placing homeless people in empty condos in Florida, but I don’t think it will be a productive exercise.
Using myself as an example, a person has to want to learn about something before anything can be learned. First I had to realize what intervention was all about, then I had to conclude it was the cause of the problems. A paradigm shift was needed, an epiphany. That came for me when Lehman collapsed on Sept. 14th 2008.
For dug-in interventionists, the epiphany never arrives. Their paradigm is never shifted.
Why does it seem like nobody can comprehend people work for others because they are better off than working for themselves. Just because we have unemployment doesn’t mean people aren’t working. They might be doing odd jobs for others in the underground economy, or even spending more time hunting, fishing, etc to eat.
It’s not that nobody can comprehend it. The people who comprehend it are working and producing.
The theory of magic money simply wont die.