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Austrian & Keynesian

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  • Strongly Liberal Democrat
    Democrat
    Gainesville, FL
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    I think the problem is people in America do not understand the difference between Austrian and Keynesian economics and we must educate the masses so that they have a better understanding to why Keynesian is better than Austrian economics. Although you will hear most say that Austrian economics has not been practiced here in America or ever, most Republicans want to move towards an Austrian style economics that represents unregulated capitalism.
  • Strongly Liberal Democrat
    Democrat
    Dallas, TX
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    Please see the debate between Modern Monetary Theory(MMT) founder, Warren Mosler, and anarcho capitalist and Austrian economist, Robert Murphy, hosted by CNBC.com's John Carney:

    youtube.com/watch?v=cUTLCDBONok

    Also, please see Alan Nasser on what Keynes actually prescribed:

    alannasser.org/articles/whatkeynesreall...

    And please read an MMT convert from the Austrian school, Chis Mayer at the Daily Reckoning, on what MMT says:

    dailyreckoning.com/modern-monetary-theo...

  • Independent
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    First thing to understand is that ALL currency is fiat. Despite claims to the contrary gold has no intrinsic value as money other than humans decided that it did.
  • Democrat
    Julian, CA
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    mrnapsack Wrote: I think the problem is people in America do not understand the difference between Austrian and Keynesian economics and we must educate the masses so that they have a better understanding to why Keynesian is better than Austrian economics. Although you will hear most say that Austrian economics has not been practiced here in America or ever, most Republicans want to move towards an Austrian style economics that represents unregulated capitalism.
  • Democrat
    Julian, CA
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    "If you don't have a seat at the table, you're probably on the menu." Elizabeth Warren
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    I asked a Harvard Business School graduate what was the overall guiding ethics of Harvard. He answered " Make a profit for the stockholder. " That is economic theory and the execution is to find the fastest, easiest and cheapest way to do it.
  • Independent
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    Chet Ruminski Wrote: I asked a Harvard Business School graduate what was the overall guiding ethics of Harvard. He answered " Make a profit for the stockholder. " That is economic theory and the execution is to find the fastest, easiest and cheapest way to do it.
    Which dovetails very well with the Chicago and Austrian schools aka short-termism and no focus on long term sustainability. Which is not the same as long term sustainable growth btw.
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Which is the essence of conservative capitalism. Winner take all.
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    lonely bird Wrote:
    Chet Ruminski Wrote: I asked a Harvard Business School graduate what was the overall guiding ethics of Harvard. He answered " Make a profit for the stockholder. " That is economic theory and the execution is to find the fastest, easiest and cheapest way to do it.
    Which dovetails very well with the Chicago and Austrian schools aka short-termism and no focus on long term sustainability. Which is not the same as long term sustainable growth btw.

    The glaring need for bureaucracy is evidenced by run away profits. Tax and spend needs to be explained as the lifeblood of an economy and a country. The concept of selfishnessism perverted and permeated by the right wing talk stars has to be countered by a need to resurrect the economy to produce full employment through living wage jobs.