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  • Re: Some rambling thoughts on Keynesian Concepts.

    Thank for this new ebook! So far, I abstained from reading this book entirely because I found only a bad PDF of it... Nevertheless, I saw that the chapter about the history of anti-Keynes books was very interesting. The article by Herbener about the multiplier is also worth reading, if I remember correctly. I look forward to reading the whole book in
    Posted to Economics Questions (Forum) by Raoul on Thu, May 9 2013
  • Re: Some rambling thoughts on Keynesian Concepts.

    [quote] When workers are paid less, the money doesn't vanish out of existence. Less for the employee means more for the employer.[/quote] Indeed, that seems to be a more direct refutation.
    Posted to Economics Questions (Forum) by Raoul on Wed, May 8 2013
  • Re: Some rambling thoughts on Keynesian Concepts.

    See also this article by Murphy. Excerpt: But there are other problems with Keynes's analysis. Consider: What is the actual mechanism through which falling costs lead to falling retail prices? We start in an initial equilibrium, where workers earn (say) $10 per hour, and the retail good sells for $100. Firms are happy with the number of workers
    Posted to Economics Questions (Forum) by Raoul on Wed, May 8 2013
  • Re: Some rambling thoughts on Keynesian Concepts.

    Ironically, it seems that Keynes assumed full employment. Indeed, if all people are employed, a decrease in wages results in a decrease in monetary aggregate demand (I assume here that AD is relevant). But, if some people are unemployed because the wage rates are too high, a decrease in theses wages can bring them back to work, increase their real wages
    Posted to Economics Questions (Forum) by Raoul on Wed, May 8 2013
  • Re: Minarchy vs Anarchy

    [quote]Re Cardinal utility, how do you propose to measure it?[/quote] I would like to know, me too. I can admit that individual utility functions don't involve cardinal utility, but I can't see how it is possible to build collective utility functions with ordinal utility. This point is not merely academic. It has important consequences on policy
    Posted to Political Theory (Forum) by Raoul on Sun, May 5 2013
  • Re: Who is your dream team ?

    So he was killed because of that. Thanks.
    Posted to Economics Questions (Forum) by Raoul on Fri, May 3 2013
  • Re: Who is your dream team ?

    [quote]James Buchanan[/quote] I'm not sure dead people might be appointed.
    Posted to Economics Questions (Forum) by Raoul on Fri, May 3 2013
  • Re: Cleanup up old forum data

    I have been unable to log in here since January. Now, it works, at last!
    Posted to Announcements (Forum) by Raoul on Wed, May 1 2013
  • Re: Interest Theory

    I'm not sure to be up-to-date, but I would say: 1° A theory centered around the loan market ; 2° A theory which identifies two "causes" in the formation of the rate of interest, i.e., from the lender's side, the time preference, and from the borrower's side, something like "the marginal efficiency of capital"
    Posted to Economics Questions (Forum) by Raoul on Mon, Mar 4 2013
  • Re: Mises on banning stuff

    Maybe the following excerpt (about advertising)? It's a bit related. There are many evils for which contemporary technology and therapeutics have no remedy. There are incurable diseases and there are irreparable personal defects. It is a sad fact that some people try to exploit their fellow men’s plight by offering them patent medicines. Such
    Posted to Economics Questions (Forum) by Raoul on Sun, Mar 3 2013
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