Hello everyone - - this is my first post here (though I have been studying Austrian economics for awhile.) - - I was prompted to come here today after spending some time in a local bookstore. I was looking through the economics section and noticed a guy doing the same. I bought a book by a hardcore Keynesian (I like to know what they 'think') & noticed that this guy was also looking at Keynesian books, so I asked him about his take on the economy. - - - The guy had read a lot of economics books, but was under the impression that the banks 'just wrote checks' creating money and much of our current problems. He had absolutely no idea that the Federal Reserve had any role in money creation at all - - and adamently denied the fact, and thought the Fed was only trying to deal with the aftermath of the banks actions. He attributed certain ideas to the Austrians economists that they don't hold, "They have a great deal in common with the Keynesians." He had lived in Japan (as did I) and recognized that they had lowered interest rates, kept 'too big to fail' companies from going under, and did enough 'stimulus public works projects' so that Japan poured as much concrete as the U.S. at one point - - with half our population and 4% of our land mass. All of this, was to no avail, of course. But, this fellow attributed the Japanese results to some kind of unknowable 'mystery' and cultural quirk. - - It really was quite exasperating to talk to him. Borrowing from a quote that I'll paraphrase - it wasnt that he knew so little, but that he knew so much that was wrong. - - - Anyway, please pardon my venting - - - but its nice to be here among a group of people who actually know something about economics. Best regards, - - -
Welcome.
Peace
Certainly better here than at the bookstore! Specifically, the literature section of the site: http://mises.org/literature.aspx
Thanks for the welcome !