Austrian Economics - PhD student

[kozel]

Hello, I'm a grad student at a top20 in economics... When I was 17 or so, I used to watch Ron Paul videos, etc.. I was one of you guys

But, after being exposed to real economics, I must say. Austrian economics is marginalized, and even made fun of, not because there is a conspiracy going on, but because its un-scientifical, and downright funny.

So. Stop trolling "keynesian" videos. Stop harassing good researchers. Study "mainstream" before attacking it blindly. Thank you

 

[jmdrake]

LOL. Good troll. "Un-scientifical" Is that even a word? But thank you. You provided good fodder for another thread.

 

[brandon]

Perhaps you should try to fit a formal logic class into your schedule. And maybe redo english 101?

 

[brandon]

Appeal to authority, ad hominem, no true scotsman, begging the question, and a red herring all fit inside 4 complete sentences and 3 fragments. Pretty impressive OP.

 

[bbjaylive]

Hello, I'm a grad student at a top20 in economics... When I was 17 or so, I used to watch Ron Paul videos, etc.. I was one of you guys

But, after being exposed to real economics, I must say. Austrian economics is marginalized, and even made fun of, not because there is a conspiracy going on, but because its un-scientifical, and downright funny.

So. Stop trolling "keynesian" videos. Stop harassing good researchers. Study "mainstream" before attacking it blindly. Thank you

The mainstream ain't as great as you make it out to be. Mainstream economics isn't like mainstream science, because mainstream science deals with facts, not theories backed up with insufficient evidence.

For example, most economists would have you believe that trade started out as bartering, whereas evidence suggests, as mentioned in David Graebar's "5000 Years", that primitive societies used systems of credit and debit as money.

Also, most economists believe the loanable funds theory, that is fractional reserve banking, that deposits create loans, but evidence is mounting up that suggests the opposite, that is that loans actually create deposits and new money is literally created by private banks when they make loans. This is why Steve Keen calls money 'endogenous', yet people in the mainstream still claim that the loanable funds theory is correct.

Mainstream economics doesn't deal with the operational realities of our economic system, and is mainly prescriptive, but heterodox economic schools of thought are emerging, helped largely by the failure of the mainstream to predict the financial crash of '08.

It's all well and good standing on your 'mainstream horse' and pissing on the Austrians, but don't forget that their emergence is largely down to your group's failures.

 

[P3ter_Griffin]

Study "mainstream" before attacking it blindly.

By study, do you mean read Keynes and Marx? Or do you mean to study the hole Keynesian economics has gotten us in? I agree with the latter-- although I don't know how much studying you need to do to realize how badly the Keynesians have fucked up the economy--, but to the prior, I'd say, there are too many (endless) worthwhile books to read to waste time reading books clamoring for government involvement in the economy. The whole world, or almost at least, has tried this big government spend-spend-spend, manipulate-manipulate-manipulate philosophy, and now we find ourselves on the brink of a total meltdown. If this is success to you-- if this has proved to you that government involvement in the economy works--, you sir are fucked in the head.

 

[kozel]

The mainstream ain't as great as you make it out to be. Mainstream economics isn't like mainstream science, because mainstream science deals with facts, not theories backed up with insufficient evidence.

For example, most economists would have you believe that trade started out as bartering, whereas evidence suggests, as mentioned in David Graebar's "5000 Years", that primitive societies used systems of credit and debit as money.

Also, most economists believe the loanable funds theory, that is fractional reserve banking, that deposits create loans, but evidence is mounting up that suggests the opposite, that is that loans actually create deposits and new money is literally created by private banks when they make loans. This is why Steve Keen calls money 'endogenous', yet people in the mainstream still claim that the loanable funds theory is correct.

Mainstream economics doesn't deal with the operational realities of our economic system, and is mainly prescriptive, but heterodox economic schools of thought are emerging, helped largely by the failure of the mainstream to predict the financial crash of '08.

It's all well and good standing on your 'mainstream horse' and pissing on the Austrians, but don't forget that their emergence is largely down to your group's failures.

hahaha thanks for the laugh, endogenous money isn't a novelty at all.. Steve Keen is hilarious, as funny as the Austrian bunch

 

[PSYOP]

Obvious paid troll is obvious.

 

[kozel]

By study, do you mean read Keynes and Marx? Or do you mean to study the hole Keynesian economics has gotten us in? I agree with the latter-- although I don't know how much studying you need to do to realize how badly the Keynesians have fucked up the economy--, but to the prior, I'd say, there are too many (endless) worthwhile books to read to waste time reading books clamoring for government involvement in the economy. The whole world, or almost at least, has tried this big government spend-spend-spend, manipulate-manipulate-manipulate philosophy, and now we find ourselves on the brink of a total meltdown. If this is success to you-- if this has proved to you that government involvement in the economy works--, you sir are fucked in the head.

Marx mainstream? Keynes was important, but guys like Lucas and Sargent were more..

This is not like Austrian economics, researchers aren't appealing to the General Theory like its the Bible. Different from you guys "Mises says X.. ERGO X is true!! QED"

 

[bbjaylive]

hahaha thanks for the laugh, endogenous money isn't a novelty at all.. Steve Keen is hilarious, as funny as the Austrian bunch

LOL, now you're just being a troll.

 

[kpitcher]

if you're a PhD mind telling us your thesis topic?

 

[Danan]

How about offering some constructive criticism? How exactly am I supposed to react to your drivel? "No, you are wrong!" ?

 

[Danan]

LOL, now you're just being a troll.

Steve Keen is indeed utterly overestimated by some people and I disagree with almost all your arguments in your initial response. That being said, kozel is a joke.

 

[Seraphim]

Bolded really, really ups your credibility.

Well done, well done.

Hello, I'm a grad student at a top20 in economics... When I was 17 or so, I used to watch Ron Paul videos, etc.. I was one of you guys

But, after being exposed to real economics, I must say. Austrian economics is marginalized, and even made fun of, not because there is a conspiracy going on, but because its un-scientifical, and downright funny.

So. Stop trolling "keynesian" videos. Stop harassing good researchers. Study "mainstream" before attacking it blindly. Thank you

 

[awake]

lol...

 

[kozel]

aww he made some gramatical mistakes.. nevermind that english isn't my first language and this is the internet

BTW where is the hyperinflation you guys were claiming ??? Where is it??

 

[Jovan Galtic]

Funny

"Mainstream economics" is very much like witchcraft. A bunch of nonsense based on superstition.

 

[Danan]

aww he made some gramatical mistakes.. nevermind that english isn't my first language and this is the internet

BTW where is the hyperinflation you guys were claiming ??? Where is it??

I've never claimed hyperinflation was comming. Try again.

 

[green73]

aww he made some gramatical mistakes.. nevermind that english isn't my first language and this is the internet

BTW where is the hyperinflation you guys were claiming ??? Where is it??

http://mises.org/daily/6340/Where-Is-the-Inflation

 

[kozel]

Wrong.. You can't change the rules of the game. You guys claimed hyperinflation with the current inflation measuring, if you can't win, don't change the rules.