“Sure, they claim that markets generally solve, but if you take the collective body of economic literature you’ll find reasons for why the market needs significant government control in every aspect!”
Is your point that there is a lot of conflict in mainstream economic literature/lectures, that some literature presents claims that markets are generally good, while other literature presents “fatal flaws” or at least significant ones?
what wheylous is saying that sulfuric acid cant be good to drink and be bad to drink.
Saying socialism works just as good as capitalism is impossible. One HAS to be better. Therefore one HAS to right and one has to be wrong.
saying markets are great and then saying markets are complete failures is wrong. They either work or dont.
Is your point that there is a lot of conflict in mainstream economic literature/lectures, that some literature presents claims that markets are generally good, while other literature presents “fatal flaws” or at least significant ones?
In my experience even pro-market people like Hayek advocate things like a basic income (and Friedman with the NIT). I mean, come on.
Scuffle #1 happend over the “phillips curve”. The very first lesson we learned was the fucking phillips curve. (which states that theres a relationship between the level of inflation and unemployment. Basicly, the higher the inflation, the lower unemployment, and vice versa.) THIS WAS THE VERY FIRST THING HE TAUGHT.
That seems kind of bonkers.
Is the using a textbook? I can’t think of any intro or intermediate macro book that teaches that way. It would be interesting to see why he deviates from the textbook’s outline.
In my own experience the Philips curve was the final part of a general lesson on introductory monetary policy concepts. To be honest, I’m not sure how any of his students could understand the Philips curve if it’s presented to them without any context or preface. Maybe he’s not really working from a textbook?
Right. Exactly what Mises explained.
To the OP, I would recomend this article by Gary North:
How a College Student Can Safely Create Pain for a Professor Who Is Misusing His Bully Pulpit
“saying markets are great and then saying markets are complete failures is wrong.”
And no one is saying that they are complete failure, well at least very few are. Just because something has a problem or a shorfall in it doesn’t mean that it is useless. Cars are great, computers are great, but that doesn’t mean that there aren’t flaws in them.