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Austrians often rave about the importance of savings in economic growth. But look at a number of current big savers - Ireland, Spain, France. Pretty bad, the first two abysmal even, despite having high savings rates throughout the boom and bust years. http://econ365.files.wordpress.com/2008/10/gross-savings-rate.pdf
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tom needs to post this as a video. he is a great speaker and reading is not nearly as fun as listening to him :)
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please gather the best posts of the guy with the bastiat avatar. i always find myself agreeing and being enlightened by him the most :)
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Physics explains the "roadrunner effect" ironically, despite the conspiracy nutters trying to use it as an argument of their own. The higher the speed and mass of collisions is, the less of a role elasticisity has. The collision becomes completely plastic. The tensile strength of the colliding materials (aluminum of plane against steel of
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A lot of nuttery in this thread.. You point to the WTC7 videos so watch the whole video! You can see BEFORE the building collapses its central penthouse area does, as a result of hours of intense fires having weakened the building. As the penthouse collapses, it creates a low pressure vacuum that causes the rest of the building to follow up evenly without
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democracy is related to wars. democracy has to do what hte people want - if people dont want wars like happened during 'nam and declining irac&afgan wars, then govts are forces to widthdraw or lose popularity. And getting into a war with another democracy would be extremely unpopular, hence why democracies dont do it. Democracies set up progressive
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democracy is related to wars. democracy has to do what hte people want - if people dont want wars like happened during 'nam and declining irac&afgan wars, then govts are forces to widthdraw or lose popularity. And getting into a war with another democracy would be extremely unpopular, hence why democracies dont do it. Democracies set up progressive
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And you have the same story in all the ex-soviet countries in early 90ies when the states were weak. Gangs asking for "protection money" and fighting each others over turfs. The basic principle that causes this is a universal truism: people dont play more for protection than they do for extortion. As a result, the market for security cannot
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minarchists are matured anarchists. its the next stage that a lot of anarchists here have not arrived in yet. when one realises that security production is paradoxial, one grows out of it. He who protects you, Owns you. You cannot pay more for protection than you can pay for extortion. Because of that, protection is necessarily extortion.
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The problem with ABCT and bubbles is, it doesnt explain why LOW ORDER capital industries are often in bubbles. Dotcom bubble: dotcoms are a relatively fast return companies. mostly they dealt directly to consumers, like pet product seller pets.com, amazon.com etc. tulips: also fast return, give their return in the few months it takes to grow.