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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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In Human Action (p. 25 of the Scholar's Edition), Mises states: "There are for man only two principles available for a mental grasp of reality, namely, those of teleology and causality. What cannot be brought under either of these categories is absoluteIy hidden to the human mind. An event not...
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the following concerns a problem I'm working on for a course I am taking. The basic question is whether the idea of non-precisive abstractions is still useful when we apply it to events over time in the form of counterfactual comparison. The main reason that it may not be useful would be that it...