I really dont what to start a discussion or explain all of my comments but I do owe you one…
I meant to say that AE leading figures demonstrated to be very hard headed…Mises has been quoted to make very harsh comments and showed a difficult temperament.
Subjective value is the heart of Austrian Economics; so I don’t see how you can ever support a coercive monopoly under that framework.
So you think one of the reasons why Austrian economics isn’t mainstream is because Mises is supposedly an Austrian version of Mr.Grouch?
That’s a good point. I don’t think there are explicit ethical statements within AE but there seem to be a whole bunch of implied ones.
No idea who MR. Grouch is [:S]
I did say…you guys dont take criticism very well. Good luck.[N]
Sesame Street? Never watched it? And this whole ‘you don’t take criticism well’ is just childish. It’s like bopping someone on the nose then asking them why they got upset over being bopped on the nose.
Well there is a difference between believing that a state is beneficial and morally justified and believing that it’s evil, but necessary. Does Austrian Economics, in your opinion, conclusively show that the state is not necessary?
Any thoughts from the minarchists as well?
Monopoly theory would be a great place to start.
Enough let cut the …
I would like to know why you think AE is not even in the eco textbooks.
I do remember Hayeck theory was in some of my eco textbooks and he was discussed in class. Milton Friedman and his “free market” anti Fed anti govt rule was also discussed.
Any idea why Mises and other are not quoted??
Ask why a system of economic thought that opposes government intervention in the market place is not in government mandated textbooks in government supported schools?
Hayek made more concessions.
With all your respect…textbooks are not mandated by govt.
Could you develop more on Hayek
If something is evil then it’s not necessary.
As far as AE goes: I don’t think there is anything in it that points towards a justification of it.
You may also want to check out the Introduction to Austrian Economics series that I’m uploading (will be 11 total when finished):
I will; you tend to have good stuff on your channel.
Teachers are required to either teach from a specific textbook which is given by the school or must pick from a list of sanctioned textbooks.
He seemed to have an incorrect view on the doctrines of intellectuals, didn’t believe in a gold standard, had an incorrect view what constitutes coercion. There is actually a somewhat new book out called Rothbard vs. The Philosophers by Roberta Modugno which goes into depth on this subject.
I really dont care about coercion, I agree with him about the gold standard, but I am naive about his doctrines of intellectuals.
What is that about??
The notion that monopolies result in increased prices and decreased quality of service makes sense, and it makes sense that security is a service and therefore government-being a monopoly- is not the best way to deliver that service. But am I mistaken in thinking that there are AE minarchists? And if there are, can you really say it’s because they don’t understand monopoly theory?
You can definitely say they are inconsistent/driven by other concerns than efficient delivery of the service/good…
Wolfman, check Sloman’s Economics, Mises is mentioned in it. Mises wrote a plethora of works - if he has some “harsh” quotes, then what is the excuse for not using the less “harsh” ones? Sounds like namby-pambyism to me.
That or they somehow think that monopoly theory doesn’t apply to government for some odd reason. Not everyone tries to be throughly consistent in their views. It’s like people who want taxation but not theft.
Well that’s a naive outlook.
So you think a gold standard is impossible or inadvisable?
That they don’t have a set orthodoxy or established beliefs. He seems to romanticize them.
Sure
Extremely inadvisable. “he who has the gold makes the rules”. How can you tie the health of the world economy to the mining industry??
Gold is primitive in nature…
Fiat currency works great as long as the printing press in controlled.
The problem lies not on what system is used…but in the idiology. We live in world where the so called PhDs Economist preach for “inflation” as a good thing.
I have to agree…