Nothing new here for most of you - but it's a really cool 3 min clip:
http://www.bing.com/videos/search?q=max+keiser+austrian+economics&mid=B6E841E48E2922686491B6E841E48E2922686491&view=detail&FORM=VIRE1
Just some cool things it brings up in short soundbite format:
1) The importance on subjectivity in AE in comparison to other schools of thought
2) The unimportance of math - and why
3) The difference between the "irrational" school of AE vs more traditional looks : this is the most interesting as I think it touches on "proto-Austrianism" and the largely unexplored German subjectivist roots vs our Anglo-American tradition this can touch on things such as:
- The Nietzschean concept of "Dionysian" (irrational) vs the other more "Apollonian" (rational) concepts
- Freud as seen as "unconventional" by most people's thoughts today vs 2nd rate "behavioral" systems that are more accepted in our world.
-perhaps in a way even Modernism (them) vs Post Modernism (us)
Like I said, nothing new - but I just liked the implications thrown out for a 3 min clip; and bringing up another Austrian, and perhaps a good precursor to all this in Freud and the follies of behaviorism.
"As in a kaleidoscope, the constellation of forces operating in the system as a whole is ever changing." - Ludwig Lachmann
"When A Man Dies A World Goes Out of Existence" - GLS Shackle