-
Hello Im economy student (Prague), and during last few months I read some things about austrian economics. I like it, and Im trying to present this view to my friends whenever discussion about economy occurs. I had a discussion with a friend about inflation vs deflation, where i was a devils advocate...
-
A doubling of the money supply does not confer any social benefit. It does not add nor deduct from the wealth of society(let's just say this is done by magic fairy so that there is no redistribution). Likewise, cutting the money supply in half does not add nor deduct from the wealth of society. If...
-
Hello everyone I would like to ask about savings during deflation Lets assume there is 100% gold standard so that money supply is constant. if the GDP grows it means that prices must go down, for example -3% per year. some people may try to save some money in order to consume more in future. but the...
-
Ron, You are quite right about both Rothschild's quote and your statement that Britain does not have a 100% reserve system. Private banks played an extremely important role in financing nations and issuing their currencies in the 19th Century, and the Rothschild's among others profited greatly...
-
The textbook for my Principles of Macroeconomics class, Macroeconomics , 2nd ed. by R. Glenn Hubbard and Anthony Patrick O'Brien, has a section entitled "Money without a Government? The Strange Case of the Iraqi Dinar" (Chapter 13, p. 435 for anyone who is interested) in which the authors...
-
> Without government intervention into the economy, can wages rise naturally? < Wages rise naturally after the floor is above subsistence. Disposable income is the key that allows labor to get specialized. As long as the vast majority of consumers have zero disposable income, there can be no healthy...
-
Xevec, Whoever it is that you are speaking to here is feeling personally attacked and insulted, which does not lead to a positive environment of mutual pursuit of truth. The author seems to be striving to find points upon which to disagree with you, which is typical of defense. The truth is, I think...