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  • Re: The "economics" of social and political relations.

    A slightly different way of looking at these four examples (2 types of poker, seismology, meteorology) is that from the point of view of methodological individualism (from the point of view of a given individual actor), each of the four will consist of two general or primary categories: 1. A given content or set of assumptions from which formal implications
    Posted to Economics Questions (Forum) by Adam Knott on Sat, Feb 23 2013
  • The "economics" of social and political relations.

    This post continues a line of thought introduced by ToxicAssets on another thread (http://mises.org/community/forums/p/29440/514165.aspx#514165) The idea introduced was that of approaching interpersonal or political relationships with an "economic" or praxeological or "cost/benefits" analysis. TA wrote (emphasis added by AK): I think
    Posted to Economics Questions (Forum) by Adam Knott on Mon, Feb 18 2013
  • Re: Two versions of anarcho-capitalism: David Friedman vs. Murray Rothbard

    I think the major mistake both Friedman and Rothbard incur is that they downplay the costs of creating the whole framework of contracts that would be necessary in order to achieve their visions of anarchism. The reason why (political) violence exists is that it is an economic resource . Sometimes it is cheaper for one of the parts involved in a bargain
    Posted to Political Theory (Forum) by Adam Knott on Mon, Feb 18 2013
  • Re: Mises and Bernanke

    Also, this from Human Action , 3rd rev. p. 777: Lord Keynes considered credit expansion an efficient method for the abolition of unemployment; he believed that "gradual and automatic lowering of real wages as a result of rising prices" would not be so strongly resisted by labor as any attempt to lower money wage rates. Cf. Keynes, The General
    Posted to Economics Questions (Forum) by Adam Knott on Sat, Feb 16 2013
  • Re: How Mises Dismissed that Whole Keynesian Thing with a Decisive One Liner.

    Neodoxy: "The only problem I have with your argument is that Mises still wrote about the market and business cycles. He was obviously confident enough in his writings to apply them to the market, so why did he not bother applying it to the works of Keynes?" I can't answer that definitively. But as one who is familiar with his method, I
    Posted to Economics Questions (Forum) by Adam Knott on Sat, Feb 16 2013
  • Re: How Mises Dismissed that Whole Keynesian Thing with a Decisive One Liner.

    "I think that Misesian theory (not framework) doesn't really address Keynesianism. In Human Action he basically dismissed Keynesianism by talking excessively about capital goods and their accumulation (I've actually always found Mises' own focus upon the need for "more capital goods" as a means of ending the recession as focusing
    Posted to Economics Questions (Forum) by Adam Knott on Sat, Feb 16 2013
  • Some Fundamentals of Human Action and Praxeology

    Some fundamentals of human action and praxeology. Please note that the subject is human action in general (all forms of human action) and general or universal praxeology (not limited to the branch of praxeology that studies market phenomena). Classes of Action According to Ludwig von Mises, human action is conscious behavior on the part of a human being
    Posted to Economics Questions (Forum) by Adam Knott on Mon, Feb 11 2013
  • Re: A new rhetorical device to analyze

    Neodoxy: "Rand argues that man can only live through productive work and that, just as the article states, only productive work at some point down the line makes man's life possible." The idea is that if you were to confront a proponent of that ethical system with a counterexample in which a person is alive, but not living through productive
    Posted to Political Theory (Forum) by Adam Knott on Sun, Feb 10 2013
  • Re: A new rhetorical device to analyze

    This same phenomenon (switching between two meanings of a concept) has been noted with respect to Ayn Rand's ethics, and has been named "The Shuffle." http://www.geocities.ws/cathcacr/IURE.pdf We can now address and allay the concerns that Prof. Eric Mack (2003) raises about what he calls The Shuffle – a supposed shifting back and
    Posted to Political Theory (Forum) by Adam Knott on Sun, Feb 10 2013
  • Re: Rumors of Bitcoin's death greatly exaggerated...

    Smiling Dave: I don't accept the concept "intrinsic value" since I conceive, following Mises, that value is a meaningless concept without a valuing agent. In Misesian thought the notion "intrinsic value" would have to be re-cast as "intrinsic value to me," "intrinsic value to him," "intrinsic value to
    Posted to General (Forum) by Adam Knott on Fri, Feb 8 2013
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