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Sorry, still amateurish. Firstly, maybe I can guess what you mean, but you should choose your words more carefully. Austrian economics is not a "laissez faire approach". It is merely a description of reality. If you think it is a correct description of reality then the conclusion that one must draw (which it does) is that we will all get the
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OK - thanks. But why it is unsustainable - as long as lose monetary policy keeps pumping money into the system, why can't it go on forever?
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Thanks very much. That is a good analogy. However, I still don't quite understand. What is the real economy equivalent of not enough bricks? Is it not enough money? I don't think so, because there's plenty of money. I think it means that there is not enough capital goods, but why don't the people just use all that extra money to produce
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Yeah. The person that wrote that is a fool. The answer to that nonsense is so obvious that it doesn't deserve me wasting any more time...
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Hi I have been researching/learning about the Austrian theory of the trade cycle. I have listened to a few lectures and read a few pieces. I understand everything, and I think it makes perfect sense, right up until the time (when discussing the boom caused by an artificially low interest rate) that the lecturer says "which is, of course, unsustainable"