-
I couldn't find an answer for this. I don't know if it is from Milton Friedman himself or is it a general theory that 2-3% is "good for the economy." There are many parties in an econnomy so the question it is good for whom exactly? What is the thesis and antithesis of this theory?
-
Austrians blame the Great Depression on the inflation created by the Federal reserve during the 1920s and how that fueled the bussiness cycle. Milton Friedman blames it on the collapse of the money supply during the 1930s. Could both be right? It seems like the decline of the m3 money supply by one third...
-
I'm aware that many people here have read Human Action . Many here have read A History of Money and Banking in the United States . Some have even read Principles of Economics . A few Capital and Interest . We're all very familiar with the Austrian canon. But how many of you lot have read the...
-
I was wondering if someone could give me a hand with this guys blog post - he seems to think that the US Government is not Revenue Constrained - And can basically print money forever with no downside - he is of the mind that even taxes are theoretically not necessary. Also he thinks that the USA will...
-
Hah! Not really. The point of this thread is to quickly show how neo-Keynesian, new Keynesian, and monetarist economics are all essentially self-refuting when it comes to the supposed need for fiscal and monetary stimulus in a laissez faire economy. All three of these macroeconomic schools of thought...
-
I thought the equation MV=PT was a tautology and therefore always true.
-
[quote user="Jon Irenicus"] I've noticed whenever someone is too stupid to deal with Austrian arguments they begin by whining about this chimaera called the "scientific method". [/quote] It is obvious that those who make this remark do not themselves understand the "scientific...
-
If you want to get to the meat of the question, just skip to the paragraph starting with a bolded letter. I'm sure there are many current Austrians who were influenced by the writings and beliefs of Milton Friedman before arriving at their current place on the economic spectrum. If I had to name...
-
See De Soto's book Money, Bank Credit, and Economic Cycles p. 558-571 (in the pdf it starts on 588). The entire chapter containing the above pages provides an excellent starting point for further study of Keynesian and Monetarist shortcomings and fallacies. Further reading suggestions are provided...
-
I just had this thought about the nature of market currency, price inflation, and economic growth. It came about last night when I was thinking about Friedman's k-percent rule. My dilemma was this: is Friedman's k-percent rule really better than normal central banking, considering that during...