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Here is the cure. Just read this http://www.amazon.com/How-Economy-Grows-Why-Crashes/dp/047052670X/ref=sr_1_1?s=books&ie=UTF8&qid=1365099226&sr=1-1&keywords=how+an+economy+grows+and+why+it+crashes And this http://freedom-school.com/money/how-an-economy-grows.pdf
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I was talking to a former employer about quanatative easing and she didn't seem to have any concept that an increased money supply is inflation or that it leads to an increase in prices so the whole conversation was confusing to her. She also took college economic courses. Her recomendation was to give everyone a million dollars
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Interestingly enough the harsh enviroment in East Africa actually stimulated carbon steel production for 2,000 years. http://www.uh.edu/engines/epi385.htm I would agree with what Gary North was saying that the reason for the great increase of production in the 19th century for England was changing attitudes toward entrepreneurs. If the folks in Tanzinia
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This is a good read taken from Human Action "Malinvestment, Not Overinvestment, Causes Booms" https://mises.org/daily/4309
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I was thinking about economic calculation and a robot colony. I do not think a robot colony would be capable of expanding and procuring new resources economically, sure the robots would be good at repeating the same tasks over and over but the real world always involves unexpected events happening. Lets say for simplicity the two resources the robots
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The calclulation problem doesn't just mean that the people in the socialist counrty will be poor, it means that socialism would be impossible without the planning board to copy prices from abroad. The way I see it it doesn't matter if the government is producing butter or tanks because the problem is whether they can be produced efficiently
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Sorry didn't word my post very well.
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If you are replying to my comment I agree with you From Ludwig Von Mises [quote]But today taxes often absorb the greater part of the newcomer's "excessive" profits. He cannot accumulate capital; he cannot expand his own business; he will never become big business and a match for the vested interests. The old firms do not need to fear his
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They benefit from their competition, or potential competition, having to pay taxes
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The only way for the general price level to rise is either the money supply increaes or the demand for money drops.