Do YOU understand Austrian Economics?

[stoutmaker]

As Ron Paul Supports we sometimes scoff at the fact that others get lost when Dr. Paul starts talking about Austrian Economics. But my question is, as a Dr. Paul supporter yourself, do YOU understand it. (I admit I do not. Looks like a wikipedia day for me)

 

[Tschaka]

I'm from Austria and dont understand this referance.

By the way Ron Paul is very popular in Politics interested people in Europe. He is better known than one might think

 

[graddium]

Read Economics for Real People . Very good introduction, and easy to read if you have no economics background.

 

[stoutmaker]

Out of curiousity...

what do you think accounts for Dr. Paul's foreign popularity? I would not think that Congressmen from Texas would get much play in the international media.

 

[snaFU]

Sure do! I'm happy he mentioned the Austrian Business Cycle in the debate.

 

[Xenophage]

"Human Action" by Ludwig Von Mises is the Austrian Economics Bible. Other must reads include: "On Liberty" by J.S. Mill and "Capitalism: The Unknown Ideal" by Ayn Rand.

 

[Xenophage]

If you're less of a reader, check into Milton Friedman's "Free to Choose" video series.

 

[tekmo]

I minored in Economics in college, so I was very into it a few years ago. I haven't studied up on it recently, but free markets are where its at!

 

[Gimme Some Truth]

I understand enough to know why Paul says the things he does. When I get time I'll definately be learning everything there is to know.

 

[malibu]

I was wondering how many in the audience - or on stage for that matter - understand where the reference comes from -

"The Ludwig von Mises Institute is the research and educational center of classical liberalism and the Austrian School of economics."

but really, I'll have to find out more.

 

[Gimme Some Truth]

what do you think accounts for Dr. Paul's foreign popularity? I would not think that Congressmen from Texas would get much play in the international media.

I think his Foreign Policy is the main thing. The rest of the world, on the whole, see the US as the no.1 enemy of peace and stability.

 

[Xenophage]

Bear in mind please that I've read the Wikipedia article, and its not the best. It implies several times that the Austrian School is inconsistent with observational phenomena or that it is entirely theoretical, and not pragmatic. That is simply not true. For a *real* understanding, you're going to *have* to read something written by an economist.

However, wikipedia does do a decent job summarizing a great many things.

 

[Xenophage]

I'd like to stress also that the Free Market economic ideas are just as important as Paul's ideas on foreign policy, and married to them such that you can't have one without the other (well, you could, but then you'd be holding contradictory beliefs). It is an entire political philosophy that he advocates.

 

[Shellshock1918]

partially. I ordered Mises' book on socialism, should be here Monday. Looks to be a good read.

 

[malibu]

this is from Wikipedia . . .

http://en.wikipedia.org/wiki/Ludwig_von_Mises

Mises wrote and lectured extensively on behalf of classical liberalism and is seen as one of the leaders of the Austrian School of economics. In his treatise on economics, Human Action, Mises introduced praxeology as the conceptual foundation of the science of human action, establishing economic laws of apodictic certainty rejecting positivism and material causality. Many of his works, including Human Action, were on two related economic themes:

1. monetary economics and inflation;
2. the differences between government controlled economies and free trade.

 

[angrydragon]

Still studying on it.

Get a copy of Economics in one Lesson by Henry Hazlitt.

Oh and The Law by Bastiat

Free to read online
http://bastiat.org/en/the_law.html

Free audio
http://www.freeaudio.org/fbastiat/thelaw.html

 

[gpickett00]

If you're less of a reader, check into Milton Friedman's "Free to Choose" video series.

link?

 

[snaFU]

Its important that you learn the fundamentals of the ideas of a free market. Its the basis of all Liberty.

The most important thing one must do is become knowledgeable in Austrian Economics if you want to explain to people why as people we must favor this over government central planning or other government interventionist policies. The fallacy that the people can't live free and be completely control of the market still prevails to this day. The only way one can dispel this is by teaching others about what you know.


If you want to learn about Austrian Economics and are not familiar with the terminology used your best beginning should be with Rothbard since he wrote in the "common" mans language in order to let the seeds of liberty spread.

http://www.mises.org/

 

[sharkcity]

It very sensable

it's basically free markets and obeying the constitution- not the corporate fascist bs we have now, not the socialist bs many countries have, not one size fits all central planning bs, no subsidies to distort supply or move jobs offshoare, True True free markets, True competition, no favoratism to people or companies or unions that donate to get you elected. There's no question America can compete and excell with lower labor cost countries if the playing field is fair. We have the technology and capital to smoke low cost producers. My guess is the gboys are trying to develop the middle east and the far east by pumping in capital. Don't buy the they have the oil bs. We have a 100 year supply of proven reserves right here in this country. Truth is for enviornmental reasons we really need to get off carbon based fuels and the govt should stop subsidizing coal/oil. Does anyone really believe the far east can out do us in manufacturing? I could rant forever..

Read Mises, Hayek..These 60 second soundbite debates don't lend themselves to smart discussion with intellectually dishonest candidates.

 

[Pii]

what do you think accounts for Dr. Paul's foreign popularity? I would not think that Congressmen from Texas would get much play in the international media.

It's not just the U.S. that would benefit from a return to non-interventionist foreign policy. It's them too... While our stated purpose in interfering everywhere, particularly in the Middle East, is to promote stability, you can very easily come to the conclusion that our efforts often lead to the opposite effect.

I think the rest of the world would very much appreciate a United States that went back to minding it's own business (at least, until the next natural disaster occurs).