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Bogart, Thanks for your reply. I appreciate the clarity with which you describe the problems of gov allocations. I did edit my response to my opponent quite a bit from my original post here, mostly because I myself had to reassess what I thought the author was trying to say. The article was not well written and did not make the intended points, in my
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EDIT: it is clear to me that my opponent does not understand that the author is referring to REAL and NOT nominal wage rates. I have revised my response accordingly: The point that I think the author wants to make is that an economic boom resulted after Ford (and others) introduced the assembly line because the products that they introduced to the marketplace
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All, I am trying my hand at refuting Krugmanite responses to the following article: http://online.wsj.com/article/SB10000872396390444100404577641280041366306.html?mod=hp_opinion The specific comment to which I am replying is as follows: "I’m late to this party, but I think Kessler attempts to make his case with half-formed arguments and tired
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Hello to all, I'm fairly new to the Austrian School and am starting to feel confident enough in my knowledge to engage in some polite discourse with my liberal-leaning friends. However, my knowledge is still limited. Clearly, I believe the faults of Keynesianism are glaring, but I could use some help in trying to illustrate this to my friends. Some