apc3161
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Yea, that is definitely good advice.
Do YOU understand Austrian Economics?
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Yea, that is definitely good advice.
surf
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it's all about freedom. it's really that simple. understanding that gov't influence (prohibitions and subsidies) causes market defficencies pretty much means that you understand Austrian economics 
capital flows are more efficient and "beneficial to all" (save Haliburton) in a free market
capital flows are more efficient and "beneficial to all" (save Haliburton) in a free market
Yes, but I read Hayek, Mises, and Nozick during my stint as a PolySci major... otherwise I wouldnt.
ladyliberty
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cut government spending = no need for taxes = end the IRS!
i do not understand economics at all ... i had to sit and watch that cartoon video with the giant inflation monster chasing the poor taxpayer around the globe to even understand it as much as I do.
i do not understand economics at all ... i had to sit and watch that cartoon video with the giant inflation monster chasing the poor taxpayer around the globe to even understand it as much as I do.
Sesshomaru
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Im getting my PhD in Economics so yes
Here is the book my kids read that taught them the basics of Austrian economics and the dangers of fiat money/ central bank.
http://www.amazon.com/Whatever-Happened-Explanation-Economics-Investments/dp/0942617525
While written for children it is actually a very good read for adults who may lack the basics of economics.
http://www.amazon.com/Whatever-Happened-Explanation-Economics-Investments/dp/0942617525
While written for children it is actually a very good read for adults who may lack the basics of economics.
Big Boss
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http://mises.com/forums/t/762.aspx
Full pdfs of Economics for Real People, Human Action, and Man, Economy, and State, plus a bunch of relevant articles/excerpts sorted topically.
Full pdfs of Economics for Real People, Human Action, and Man, Economy, and State, plus a bunch of relevant articles/excerpts sorted topically.
Ron Paul's mention of Austrian Economics last night as well as references to Mises, Hayek, "Just War" doctrine, Freedom to Fascism etc. are his way of offering those hungry for knowledge a homework assignment. When people seek information for themselves they are more likely to receive it with an open mind. Ron is running a very smart campaign and an even smarter movement.
BillyFromPhilly
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I highly recommend reading Human Action by Ludwig von Mises and The Road to Serfdom by F. A. Hayek.
And if you really get into it, The Case Against The Fed by Murray Rothbard.
karat3
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Well I personally think it has to do with his stance against "big government". Atleast people in europe know how annoying it is, since we have the massive bureaucracy known as the EU. Also his stance on the us forgein policy helps.
iznourbaby
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Here is an audio link to Ron Paul`s opinions of Mises.
http://mises.org/multimedia/mp3/audiobooks/MisesPersonalView.mp3
http://mises.org/multimedia/mp3/audiobooks/MisesPersonalView.mp3
N13
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Im getting my PhD in Economics so yes
You should take this opportunity and do some teaching here.
It would help the movement.
Trance Dance Master
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Jason Hommel's Free Market 101 is the super condensed version.
http://silverstockreport.com/2007/free_market.html
The Free Market: 101
Silver Stock Report
by Jason Hommel, September 12, 2007
Understanding free market concepts is essential to your own prosperity and well being.
By free trade, I mean trade with other nations.
I can justify it with a few simple words.
If it's my money, that means I'm the one who has the right to spend it where ever I want to.
I could end the argument there, and say no more. But then, this article would be too short, so I'll continue.
If you are against free trade, I have a question. Whatever in the world made you think in the first place that you could dictate to me where I can, and cannot, spend my money, which is my money, not yours; and what makes you think you can steal that from me, and not consider it theft?
Yes, I know that the U.S. Constitution allows for tariffs. But a Constitutional government need not exercise that power, and could just as easily levy a tariff of .00001 of a penny on every tonne of imports, as levy no tariff at all.
Tariffs are arbitrary, and therefore unjust. What is the standard to say what is a "fair tariff"? Is a 1% charge fair? 5%? 10%? 50%? 100%? 200%? What is the standard, where do you draw the line? If a 100% tariff is good, why isn't a 1000% tariff better? Should all tariffs be a standard 10%? Even on the importation of things like gold and silver? If gold and silver ought to be exempt because they are money, then why not copper or platinum? If those, why not exempt all commodities?
Tariffs are not merely a tax on an importer, nor only harmful on those on whom tariffs are levied. Tariffs also harm the people in the nation that levies the tariffs, because they are the ones who have to pay more for the final goods!
Therefore, the solution to the problem of "free trade" vs. "fair trade" is rather simple. There is no need to enter into any trade agreements of any kind. The best any nation can do is to simply open the borders to allow import and export of all goods. Period.
Any nation that adopted such a policy would become a magnet for trade around the world. For any two other nations, who might not otherwise trade with each other, may end up trading through the only honest nation on earth that did not restrict trade.
You can profit in many ways from understanding the merits of free trade. For if you are for it, then you can allow yourself to benefit from buying foreign made goods that may be cheaper and of better quality, and you can save money. And if you are for it, you can allow yourself to invest overseas in stocks, companies, or factories that may be more capable of producing things cheaper, and you can make money.
And if you realize that free trade is good, then you will recognize that the increased trade with China that has taken place over the last decade will lead to higher standards of living for them, and for us. And if you realize that, then you can see that China's demand for commodities will continue to greatly increase, due to the increase of trade.
But if you are against free trade, then you sabotage yourself, and you can harm your nation as well. For if you are against it, you may deny yourself the right to buy goods made in China. You may come to resent foreigners, which is divisive, and harmful most of all to yourself. And if you are against it, and lose your job due to it, then you may blame foreigners or corporations instead of taking personal responsibility for your own education and employment. And if you work against it, and succeed in restricting trade, for the benefit of any special interest group, then you harm all Americans.
More importantly, a proper understanding of the benefits, and righteousness of free trade can help you to understand the direction of the economy. For if free trade is increasing, then prosperity for all will increase. But if free trade is decreasing due to a rise in protectionism and higher tariffs, then you can know that the economy will be hurt. If you understand those trends, then you can better guide your investments or job prospects.
Specifically, if there is a rise of protectionism in the U.S., then it will hurt the economy and the dollar. But if U.S. trade increases with other nations, it's generally good for the economy and the dollar.
For those people who may feel that they have lost a job due to trade with China, let me try to help your pain. Aren't you glad that we don't have to haul ice down from icebergs anymore, and that we have refrigerators instead? Aren't you glad that men don't labor to make buggy whips, or horse carts anymore, and that we have cars instead? Aren't you glad when you can afford to buy any kind of labor saving device, from a washing machine to a dishwasher? And if labor saving devices are good, then isn't it better when other people, foreigners, do the work better, faster, and cheaper than us, too?
If you live in the U.S., you are most likely here because your ancestors needed to trade. Remember Christopher Columbus discovered the New World because he was looking for a shorter trade route to India (which is why Native Americans were called "Indians" even though India was still half the world away).
Understanding the benefits of trade is absolutely essential to your prosperity. For trade produces wealth. Without trade, how can you easily produce more than you need so you can sell it in order to obtain the things you want in life?
When you understand the benefits of trade, it also helps you to actually trade your investments, rather than lazily sit and hold while your stocks move up and down. You are more likely to try to sell at the peaks, and buy on the dips, knowing that you are providing a service for others (at a handsome profit for yourself) when you do. For if you trade like that, it requires a bit more work, and you help to smooth out the market's volatility and increase the liquidity, providing stocks to others at a time when the price may be too high, and buying the stocks at a time when the price may be too low. You end up helping out the over-eager buyer, and accommodating the frantic and desperate seller.
I suppose trading in such a manner as to meet the needs of the market is like giving a man water when he is thirsty and food when he is hungry.
And if you are invested in commodity mining or exploration stocks right now, then aren't you providing for the needs of the nations that are benefiting from increased trade?
Why is the topic of free trade so important to a newsletter on gold and silver? Because gold and silver are the form of property that is perhaps the hardest to confiscate. Thus, gold and silver are the ultimate form of private property.
The study of precious metals themselves leads one to understand the nature of property rights. The nature of property leads one to conclude that they have the right to use their own property as they see fit; and to trade it to whomever, and where ever, they will. The study of free trade then leads one to understand the benefits of all forms of free trade and freedom.
The truly beautiful thing about free market concepts is to realize that they are a key solution to all economic problems; both national and personal, both for the present and future. Increasing trade can solve economic problems today. And it is the only pathway out if there ever comes an economic collapse in the future.
Another main benefit about recognizing the benefits of trade is that you realize that there is little reason to try to provide for all of your own needs yourself by hoarding all kinds of goods, or trying to isolate yourself. That leads to inefficiency, and poverty. Instead, it is far better to understand the benefits of the division of labor and specialization that is made possible through trade.
Finally, the national policy of free trade that I am advocating requires using absolutely no force on anyone. It is a policy of total freedom, the maximum freedom.
In contrast, those who would restrict trade are those who would need to use guns and force to force their will on everyone else. Therefore, trade restrictions, or tariffs, are not only a policy of theft, but also murder, for that is what they must ultimately resort to, in order to enforce their uneconomic policies on the rest of us.
I force my views on nobody. If you don't like what I have to say, please unsubscribe from my email list.
But if you like what I have to say, then please use the links below to forward this email on to your family and friends, (especially to those who see things differently) so that they, too, can benefit.
Thank you.
http://silverstockreport.com/2007/free_market.html
The Free Market: 101
Silver Stock Report
by Jason Hommel, September 12, 2007
Understanding free market concepts is essential to your own prosperity and well being.
By free trade, I mean trade with other nations.
I can justify it with a few simple words.
If it's my money, that means I'm the one who has the right to spend it where ever I want to.
I could end the argument there, and say no more. But then, this article would be too short, so I'll continue.
If you are against free trade, I have a question. Whatever in the world made you think in the first place that you could dictate to me where I can, and cannot, spend my money, which is my money, not yours; and what makes you think you can steal that from me, and not consider it theft?
Yes, I know that the U.S. Constitution allows for tariffs. But a Constitutional government need not exercise that power, and could just as easily levy a tariff of .00001 of a penny on every tonne of imports, as levy no tariff at all.
Tariffs are arbitrary, and therefore unjust. What is the standard to say what is a "fair tariff"? Is a 1% charge fair? 5%? 10%? 50%? 100%? 200%? What is the standard, where do you draw the line? If a 100% tariff is good, why isn't a 1000% tariff better? Should all tariffs be a standard 10%? Even on the importation of things like gold and silver? If gold and silver ought to be exempt because they are money, then why not copper or platinum? If those, why not exempt all commodities?
Tariffs are not merely a tax on an importer, nor only harmful on those on whom tariffs are levied. Tariffs also harm the people in the nation that levies the tariffs, because they are the ones who have to pay more for the final goods!
Therefore, the solution to the problem of "free trade" vs. "fair trade" is rather simple. There is no need to enter into any trade agreements of any kind. The best any nation can do is to simply open the borders to allow import and export of all goods. Period.
Any nation that adopted such a policy would become a magnet for trade around the world. For any two other nations, who might not otherwise trade with each other, may end up trading through the only honest nation on earth that did not restrict trade.
You can profit in many ways from understanding the merits of free trade. For if you are for it, then you can allow yourself to benefit from buying foreign made goods that may be cheaper and of better quality, and you can save money. And if you are for it, you can allow yourself to invest overseas in stocks, companies, or factories that may be more capable of producing things cheaper, and you can make money.
And if you realize that free trade is good, then you will recognize that the increased trade with China that has taken place over the last decade will lead to higher standards of living for them, and for us. And if you realize that, then you can see that China's demand for commodities will continue to greatly increase, due to the increase of trade.
But if you are against free trade, then you sabotage yourself, and you can harm your nation as well. For if you are against it, you may deny yourself the right to buy goods made in China. You may come to resent foreigners, which is divisive, and harmful most of all to yourself. And if you are against it, and lose your job due to it, then you may blame foreigners or corporations instead of taking personal responsibility for your own education and employment. And if you work against it, and succeed in restricting trade, for the benefit of any special interest group, then you harm all Americans.
More importantly, a proper understanding of the benefits, and righteousness of free trade can help you to understand the direction of the economy. For if free trade is increasing, then prosperity for all will increase. But if free trade is decreasing due to a rise in protectionism and higher tariffs, then you can know that the economy will be hurt. If you understand those trends, then you can better guide your investments or job prospects.
Specifically, if there is a rise of protectionism in the U.S., then it will hurt the economy and the dollar. But if U.S. trade increases with other nations, it's generally good for the economy and the dollar.
For those people who may feel that they have lost a job due to trade with China, let me try to help your pain. Aren't you glad that we don't have to haul ice down from icebergs anymore, and that we have refrigerators instead? Aren't you glad that men don't labor to make buggy whips, or horse carts anymore, and that we have cars instead? Aren't you glad when you can afford to buy any kind of labor saving device, from a washing machine to a dishwasher? And if labor saving devices are good, then isn't it better when other people, foreigners, do the work better, faster, and cheaper than us, too?
If you live in the U.S., you are most likely here because your ancestors needed to trade. Remember Christopher Columbus discovered the New World because he was looking for a shorter trade route to India (which is why Native Americans were called "Indians" even though India was still half the world away).
Understanding the benefits of trade is absolutely essential to your prosperity. For trade produces wealth. Without trade, how can you easily produce more than you need so you can sell it in order to obtain the things you want in life?
When you understand the benefits of trade, it also helps you to actually trade your investments, rather than lazily sit and hold while your stocks move up and down. You are more likely to try to sell at the peaks, and buy on the dips, knowing that you are providing a service for others (at a handsome profit for yourself) when you do. For if you trade like that, it requires a bit more work, and you help to smooth out the market's volatility and increase the liquidity, providing stocks to others at a time when the price may be too high, and buying the stocks at a time when the price may be too low. You end up helping out the over-eager buyer, and accommodating the frantic and desperate seller.
I suppose trading in such a manner as to meet the needs of the market is like giving a man water when he is thirsty and food when he is hungry.
And if you are invested in commodity mining or exploration stocks right now, then aren't you providing for the needs of the nations that are benefiting from increased trade?
Why is the topic of free trade so important to a newsletter on gold and silver? Because gold and silver are the form of property that is perhaps the hardest to confiscate. Thus, gold and silver are the ultimate form of private property.
The study of precious metals themselves leads one to understand the nature of property rights. The nature of property leads one to conclude that they have the right to use their own property as they see fit; and to trade it to whomever, and where ever, they will. The study of free trade then leads one to understand the benefits of all forms of free trade and freedom.
The truly beautiful thing about free market concepts is to realize that they are a key solution to all economic problems; both national and personal, both for the present and future. Increasing trade can solve economic problems today. And it is the only pathway out if there ever comes an economic collapse in the future.
Another main benefit about recognizing the benefits of trade is that you realize that there is little reason to try to provide for all of your own needs yourself by hoarding all kinds of goods, or trying to isolate yourself. That leads to inefficiency, and poverty. Instead, it is far better to understand the benefits of the division of labor and specialization that is made possible through trade.
Finally, the national policy of free trade that I am advocating requires using absolutely no force on anyone. It is a policy of total freedom, the maximum freedom.
In contrast, those who would restrict trade are those who would need to use guns and force to force their will on everyone else. Therefore, trade restrictions, or tariffs, are not only a policy of theft, but also murder, for that is what they must ultimately resort to, in order to enforce their uneconomic policies on the rest of us.
I force my views on nobody. If you don't like what I have to say, please unsubscribe from my email list.
But if you like what I have to say, then please use the links below to forward this email on to your family and friends, (especially to those who see things differently) so that they, too, can benefit.
Thank you.
I dont have a damn clue what Austrian economics is, until a week ago I didn't know wtf the Gulf of Tonkin incident was...my point is that Dr Paul needs to dumb down his speeches for the masses because the masses are too ignorant to know already and too dumb or lazy to bother looking anything up. When they don't know what he's talking about they are not going to listen. He needs to be extremely clear on where he stands and state it very simply.
chilledfresh
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- Joined
- Jan 3, 2008
- Messages
- 52
This is one of the reasons why I'm so proud to be a part of the Ron Paul Revolution. I used to think that I was the only person who actually cared about things like Austrian economics until I discovered Ron Paul. Now I'm part of a movement filled with many people who are intelligent, motivated and historically aware. You aren't going to find supporters this smart in any other campaign. It just makes me smile.
Someone mentioned Mises.org... they carry the full Frederic Bastiat collection, which is a good starting point for anyone interested in how economic freedoms affect personal liberties. Bastiat wasn't an Austrian economist, but he is considered to be one of the most influential forerunners. It's a good add to your book collection.
Someone mentioned Mises.org... they carry the full Frederic Bastiat collection, which is a good starting point for anyone interested in how economic freedoms affect personal liberties. Bastiat wasn't an Austrian economist, but he is considered to be one of the most influential forerunners. It's a good add to your book collection.
BillyFromPhilly
Member
- Joined
- Oct 16, 2007
- Messages
- 158
Our western economic system has been run on Keynesian economic principles since after the Great Depression. Stated simply, the state should run counter-cyclical policies, deficits during the busts and surpluses during the booms, and act to provide a smoothing of the business cycle.
The Austrian School believes that these policies only serve to increase the severity of the eventual downturn as bust cycles are pushed out or attempted to be minimialized. The natural business cycle should be permitted to run its course and clean out the malinvestment during bust cycles to allow the economy to build and invest properly creating the next boom cycle.
The Austrian School believes that these policies only serve to increase the severity of the eventual downturn as bust cycles are pushed out or attempted to be minimialized. The natural business cycle should be permitted to run its course and clean out the malinvestment during bust cycles to allow the economy to build and invest properly creating the next boom cycle.
tommyzDad
Member
- Joined
- Jan 9, 2008
- Messages
- 926
Basic Economics
I just now started reading Thomas Sowell's Basic Economics: A Citizens Guide to the Economy. Truth be told I've owned if for months, but couldn't get my wee little brain around the first chapter, so I shelved it. It was until recently that I found the "courage" to try again.
I just now started reading Thomas Sowell's Basic Economics: A Citizens Guide to the Economy. Truth be told I've owned if for months, but couldn't get my wee little brain around the first chapter, so I shelved it. It was until recently that I found the "courage" to try again.
BillyFromPhilly
Member
- Joined
- Oct 16, 2007
- Messages
- 158
A great place to start...
Ludwig von Mises Institute
Oh and for you all just starting out make sure you pronounce Ludwig von's name correctly, it sounds like geeses. I was there too once
Ludwig von Mises Institute
Oh and for you all just starting out make sure you pronounce Ludwig von's name correctly, it sounds like geeses. I was there too once
Trance Dance Master
Banned
- Joined
- Jun 24, 2007
- Messages
- 954
I'm certain this video was linked to months ago on this forum, but since there are a lot more people here who are interested in this now, watch "Money As Debt". In 47 minutes you'll understand all the flaws with our current economic system and why a free market system is better. It's made by the same guys who made the "Money Masters" documentary in the 1980's which included clips of Ron Paul.
http://video.google.com/videoplay?docid=-9050474362583451279
http://video.google.com/videoplay?docid=-9050474362583451279
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