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"... When you make people uncomfortable by asking them to define their terms." I read that to my wife and she cracked up because it has been at the focal point of many recent arguments among friends and myself.
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Amid all of the social upheaval and dislocation knocking on our door, wherever we find ourselves in the world, some of the more ominous specters are lurking. It's unfortunate that the fellows who raised this banner haven't familiarized themselves with Austrian theories of money and credit. Otherwise, perhaps they'd understand that at the
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Martin Wolf poses the question ( http://blogs.ft.com/martin-wolf-exchange/2010/04/01/hello-world/#comments ): Anyway, what do readers think of the Austrian analysis? In particular, what does it imply about the future of the global monetary and global financial systems and about the right way to respond to financial crises when they occur? The comments
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"Then MLK hit the scene and turned the situation into a call for socialism." I'm uncomfortable with placing the blame for an ideological tendency towards socialism in the African-American community at the feet of Martin Luther King Jr. That tendency already existed and had for some time. If the blame should be placed anywhere, it should
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Austrians and, with varying degrees of finesse, other schools of economic inquiry have elaborated at length regarding the hyper-inflationary consequences of QE and credit expansion. When prodded by commentators in journalistic outlets in regards to the question of how the final scenario will play out, the standard Austrian's and savvier economist's
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It's nice to see some reference to Faust and Amon Düül II on here. Also listened to this week was the Can bootleg "Horror Trip in the Paperhouse", which I break out with regularity. It features a 27 minute jam of "Spoon" that defies belief. I listened to it something like five times in succession. I also spent time
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1) What genres of music do you typically prefer? Loosely defined post-punk forms, a lot of contemporary or modern classical music ranging from minimalism to serialism, a good amount of classical music encompassing a broad spectrum of late 18th century to 20th century forms, a lot of continental progressive rock (though nothing so much recent as the
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As others have alluded here, I'm curious to see how this plays out for observers on the left. Yes, given their track record, Hugolp paints the likeliest portrait... but I still look forward to seeing exactly how they frame that argument. I've never seen anything even approaching a causal explanation from leftist writers identifying the mechanism
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That Keynes is the culprit most readily identifiable is not in doubt. Get a load of their GENERAL RULES: Only economists may be nominated, and they must have been active during part of the last quarter century. Joke nominations (e.g., Baker, Keen or Roubini for the Ignoble Prize) or ones suspected of being motivated by malice or for which no supporting
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The "Real World Economics Review Blog" is accepting submissions (limited to three per poster; opened on 12 January) for what they're calling the Ignoble Prize in Economics, with an aim towards awarding it to those most culpable for the current GFC, which I take to mean Global Financial Catastrophe. Currently, apart from my lackluster contribution