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"But in real market economies, people's preferences about everything aren't revealed either. Like we don't know which sports car I prefer because I haven't chosen between any. So the universal permutation of preference expression can't be a defining criterion for markets either." How are you supposed to demonstrate your
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It is an axiomatic truth (a category of action by Mises) that people prefer their more urgent wants to be satisfied with a priority compared to their less urgent wants. If your political philosophy restrains individuals from disposing with their property the way they would dispose (without violating another actor's property rights) of it if you
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Why at all bother giving names to things and happenings in the real world? Like capital, good, production and others. Is this just a meaningless name-giving act of boredom or intellectual game playing? What are worth these names if they are not employed in a theory that properly explains real world phenomena? I believe these are very appropriate questions
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Before 1991, during the years of socialism, the State was the single employer. Now private individuals can own factors of production. But they believe that only the State can enforce contracts, and every contract to which the State is not a direct party is marked very very risky. That is why employers fear getting associated with non-family members
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[quote user="Marko"] [quote]Economists here do not know what the price mechanism is, how it functions and what role it plays in the allocation of resources. The Acadamia here is very poor. It is like a 19th century fan base of Marx.[/quote] How easy is it for an economy graduate to find a job in Bulgaria? Are there too many economists or too
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I am not sure what exactly you mean with "Western or Oriental". The Bulgarian State is now social-democratic. It has been planning the so-called transition period for 2 decades now. How ironic, huh? To plan not to plan. Till the year 2000 approximately 90 percent of the capital stock in Bulgaria was still State owned... Economists here do
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To be honest, I haven't read a whole book on Austrian Economics. I have read many journal articles, essays, chapters from books, but not an entire book from cover to cover. Every time I find something problematic with other people's theory I start formulating an opposing theory. In my journey of doing so I try to find what an Austrian has written
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I am an economics student at what is considered to be "the best" university in Bulgaria. As you know the State here used to be communistic, which changed since 1991. The only change the university undergone then was its name. Before it was called "Karl Marx", now it is not. But the professors and their assistants are all marxists
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[quote user="Eric"] I actually kind of enjoyed it, and it wasn't that bad. Not much in there I agreed with however. I do think Keynes may have had a point when he mentioned our "animal spirits." It was poorly written from what I recall. [/quote] The so-called "animal spirits" concept is the most elementary attempt at
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[quote user="StrangeLoop"] Economic Controversies by Murray N. Rothbard. I'm over 200 pages in, and I'm certain now that I can never be an Austrian (seriously, his arguments for free will are a joke, right?). [/quote] Didn't you with this post of yours prove him right? Performative contradiction? Non-falsifiable statement?