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Whenever discussing the Great Depression, it is always argued that high interest rates imposed during the Great Depression (Specifically 1931) worsened the Depression because investment was curtailed. This of course seems to run contrary with what an Austrian would argue. There was obviously credit inflation...
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Hello, For a financial/economics course, we're learning about the business cycle. We are taught that the fluctuations in a country's GPD over the years is called a business cycle. Expansion In times of normal growth, the economy is expanding. Inflation is stable. Profits rise. Market activity...
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I have been writing up stuff that I thought was interesting and related to the current economic mess. It has gotten a bit long but I really think it has many interesting things that I did not understand a year ago. I think other Austrian economist types will agree with most of it and still find new stuff...
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First of all, let me preemtively apologize for the length of this... Let me explain my situation. I'm 18 years old and about to start college in a few days. I've spent this entire summer, as well as the past two years, devouring everything on economics I could find. I'm lucky; I discovered...
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Let me explain my situation. I'm 18 years old and about to start college in a few days. I've spent this entire summer, as well as the past two years, devouring everything on economics I could find. I'm lucky; I discovered the Austrian School early in my life, and have just finished "Man...
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A friend of mine sent me the wiki "Critiques" of Austrian Business Cycle Theory. The red flag I noted was the line Nobel laureate Paul Krugman I was wondering if anyone had any thoughts on these points. I haven't read up on the crashes that they speak of - any thoughts on these "Critiques"...
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A friend of mine said that the only reason why we have recession/depressions is because of capitalism. I posted the following. Actually, the only reason we have recessions and depressions are because of the state's manipulation of the money supply. Due to it's monopoly on currency, the state...
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Their subsidization of solar panel production is, believe it or not, has little or no impact on the pace of solar energy research and development. If they subsidized the production of cell phones, new faster, smaller, more reliable cell phones would still be coming out every year. The only difference...
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I just finished reading Prices and Production by F.A Hayek. I am trying to come up with examples from economic history, or recent history, or even simple imaginary examples of the lengthening of the production process and the shortening of the production process that comes about due to the operation...
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My first post in this forum. So, howdy from Texas, and Ron Paul's district no less. I'm pretty much an economic layman by most standards, but I'm working to rememdy that. Anyways, I've read the P.I.G. to the Great Depression and the New Deal by Robert Murphy. It cites the theory by Robert...