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I was reading a post on a forum about an explanation of how the gold standard exacerbated The Great Depression. In short, the poster made a point about the implications that a fixed exchange rate has on interest rates between two countries and how this affects capital flow and, consequently, investment. Commodity backed currencies (at least w.r.t gold
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The question was whether or not the influx of tax receipts during the Reagan years was due to the stimulative effects of Reagan's borrowing policies. The person I'm talking with says yes. He believes this does away with Bob Murphy's argument because if there wasn't easy credit floating around, we wouldn't have seen the influx. Therefore
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I think that a few of you have already seen Robert Reich's video, T he Truth About the Economy. I had shown Bob Murphy's video to someone as a reply to someone subscribing to Reich's view. As a defence the person contended that the Increase in tax receipts as a percentage of the GDP during the Reagan was due to the stimulative effects of
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I also debunked the liquidity trap concept in part of my rebuttal against the co-op analogy
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I also think people are reluctant to be accepting of new ideas since they've taken so long to bury themselves in hole so deep they can't even see what else there is to offer on the surface. They just see the sky. It's pretty clear that they have an emotional attachment to their efforts. It even gets to the most rational and dispassionate
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It's not often that I debate. I usually don't like the emotional fireballs associated with debating in person. On the internet it's a different story. So I guess this post is to show you how stubborn people can be and to see what you guys make of it. So I saw a post on facebook about the debt ceiling and I decided to give a word. You can
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After seeing the thread about Bitcoin, it reminded me of this article that I have just recently seen. To summarize, it is a website that uses several tactics to secure anonymity for users to render them untraceable. They only use Bitcoin as currency. The head of the site is even a self-proclaimed anarcho-libertarian. http://www.wired.com/threatlevel
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Over the past few months I have been almost addicted to this website. It is about time I join these forums. Being the hyper-rational guy I am, I am attracted to the answers this site provides. As a result I have been shifting towards an Austrian outlook on the economy. Without checking, I bet I'm one of the younger guys here (still in high school