You throw around the term educated too much. A lack of perspective allows a group of people to make assumptions that they falsely identify as truths.akphidelt2007 akphidelt2007 is online now
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No one in the educated world of economics considers Austrians to be economists. They are philosophers... basically story tellers. Listen to educated people, not idiots in tin foil hats!
I find it to be near impossible for someone to have a valid perception of reality and maintain a clear and consistent preference of one political party over another.
Why were you only taught one line of thinking? It is not your fault...it is the fault of the universities and professors who do this. The mainstream way of thinking has brought us the boom and bust economy since the early part of the last century. Have you not seen enough examples?
What is funny I think...if you were to go to a mises institute meeting and learned what they actually stand for and believe...I bet you would actually start to do some of your own research. It is kind of like the two twins separated at birth...one is adopted by muslims and the other by Christians. Just because you were taught a line of thinking or philosophy first...does not make it the correct answer. It just means that is all you have learned. I am sure I took most of the same economics/business and finance classes you did. However...I didn't stop with that degree. I continued to educated myself as it is very important in my line of work in emerging markets. I am glad I did...if I did not then I would have lost some of my wealth like many people did during the 08 crash and the dot com crash, etc...
Just do some research and be honest with yourself...you will be glad you did.
The reason Austrian economics is not taught in mainstream academia is because it can not be applied to the present day global economy. It is more of a philosophy. You guys compare unsophisticated economies to an incredibly complex economy. We have boom and busts now simply because of how technologically advanced our economy is, not because of the Fed or the Govt. If you think that with out the Fed, with out central planning, with out regulation, that the markets could regulate themselves in our incredibly sophisticated economy than you are out of your mind.
Things people can do today to manipulate markets were impossible 100 years ago. The computer and the financial markets has completely changed how economies work. There's just absolutely no place for Austrian economics in the real world. Which is why it isn't. America and the rest of the world does things for a reason. There isn't some massive conspiracy to destroy the universe by educated economists.
Because without it...there is absolutely no way to factually say that Keynesian economics works better during that time frame.
Plus, you should be aware that every major country in the world was either destroyed and/or broke after ww2 (except America). Thusly the United States had a monumental advantage for close to a generation on all other major countries during that time.
It would have been virtually impossible not to have succeeded under that advantage.
In fact, your original statement: 'If you think that with out the Fed, with out central planning, with out regulation, that the markets could regulate themselves in our incredibly sophisticated economy than you are out of your mind.'
is COMPLETELY impossible to prove.
And you should have known that before you typed it.
Last edited by DA60; Feb 19 2012 at 12:30 AM.
All you guys do is critique the current system, yet you don't listen to any critiques of the alternative. There is a reason why you guys are not considered mainstream. Just like in the world of science, creationists are not seen as mainstream when it comes to evolution. So you can be part of the crazy minority that no one will ever listen to, or you can try to understand what the majority is saying.