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I have attended quite a few schools and have been pleasantly surprised in the amount of professors who are at least knowledgeable or somewhat sympathetic to Austrian Economics. What school if you dont mind my asking?
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Thats the $6 trillion question.
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Whats your definition of Capitalism if it is not allowing each to earn his own living and keep it to? What particularly is wrong with Rand's point of view?
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So he is claiming that the hedge fund does nothing with the $100? How do they make money? How do they afford to operate? They either spend the money or save it. In doing so they create a multitude of other spending. How is it more efficient to take money from one person and give it to others than it is for a person to spend or save his money as he sees
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Why would you even assume the government had the right to?
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We can not truly trust anything politicians say, since it is all game theory to them. They do not need to hold firm to their principles at any point, because it is truly about getting reelected, whatever that means doing.
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The workers of Wal-Mart are happy with what they make. While their 10 or 11 dollars may not seem like a lot to someone working in a big city or with a college degree, to a barely high school educated rural Arkansasian it may seem like a great wage. If you compare that to what they would make as a farm laborer, the wage is incredible. Wal-Mart offers
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The mainstream keeps hoping they can recycle the ideas that have failed countless times in countless places. They hope that some form of socialism yet left untried will work, not realizing that in its most basic form it is unfeasible.
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http://cafehayek.com/ http://divisionoflabour.com/ http://knowledgeproblem.com/ http://www.marginalrevolution.com/ http://www.rationaloptimist.com/ http://www.thesportseconomist.com/ Just a few I read regularly
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[quote user="LogisticEarth"]Like any transaction, the customer is trying to get the lowest prices for the best quality, and the seller is trying to get the highest prices with the most profit. Unions, when they negotiate for higher wages or more favorable conditions, are simply doing what we should expect every individual worker to do.[/quote