Subjectivism is the philosophy that reality is what we perceive to be real and that no underlying, true reality exists independent of human perception. In other words, the nature of reality for an individual person is dependent on that individual's own consciousness. It follows that each person experiences...
Posted to
Hera
by
Ron Hera
on
Sun, Jul 1 2012
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Filed under: Federal reserve, Euro, Alan Greenspan, U.S. dollar, gold standard, John Maynard Keynes, British pound, European Central Bank, Japanese yen, counterparty, Subjectivism. Objectivism, Aynd Rand, moral hazard, price stability, central banking, confidence, economic volatility, economic rent seeking, Bank of England, Bank of Japan, currency debasement, fiat money, Austrian economics, François-Marie Arouet de Voltaire
I recently wrote about the tangible consequences of the profits and losses that entrepreneurs in the economy make: "When companies make a loss then, what goes missing from the economy is not money either... indeed, if under our present banking system this happens from time to time this is entirely...
As Mises demonstrated in his brilliant essay " Die Wirtshaftsrechnung im sozialistischen Gemeimwesen " ( Economic Calculation in the Socialist Commonwealth ), the crucial failing of socialism is the absence of any pricing mechanism with regard to producer goods (which are owned by the state...
This is a response to the following video: http://www.youtube.com/watch?v=1b9qGxjjAP8 Hello Luke I share your frustration with the definitional chaos surrounding these words. In many ways the meanings typically attached to the terms public and private property are juxtuposed. The word public would seem...