General

Re: OpEdNews article calls Mises & Austrian school morons

Andrew Cain — Wed, 05 May 2010 18:11:07 GMT

Watched the whole thing. My gosh, what a hellhole.

Re: OpEdNews article calls Mises & Austrian school morons

Giant_Joe — Wed, 05 May 2010 17:33:29 GMT

My god did anyone else feel bad for that tea girl?

Yes. Considering she was actually quite cute.

Pretty awesome documentary so far.

Re: OpEdNews article calls Mises & Austrian school morons

Andrew Cain — Wed, 05 May 2010 17:28:47 GMT

My god did anyone else feel bad for that tea girl?

Re: OpEdNews article calls Mises & Austrian school morons

onebornfree — Wed, 05 May 2010 17:21:58 GMT

Lewis S.:

Whoever wrote this piece is blithering idiot.

[I just love the phrase " blithering idiot."]

Regards, onebornfree

Re: OpEdNews article calls Mises & Austrian school morons

Lewis S. — Wed, 05 May 2010 17:11:52 GMT

I read the article and his point seems to be that China raised required reserves to 16%, thereby staving off a housing bubble. That's it - the rest of it is just empty rhetoric repeating how good their economy is. It's like saying the planned economy works because somewhere a government lowered taxes from 50% to 20% and experienced economic growth. Whoever wrote this piece is blithering idiot.

Re: OpEdNews article calls Mises & Austrian school morons

Nielsio — Wed, 05 May 2010 17:07:44 GMT

North Korea doesn't count because we all know that their leaders aren't wise and benevolent. Someone like Obama would turn that country into a paradise.

Re: OpEdNews article calls Mises & Austrian school morons

E. R. Olovetto — Wed, 05 May 2010 16:59:32 GMT

This is a short video on one of China's ghost towns. They also explain how every bureaucrat is pressured to meet growth rates and the way to do that is build houses nobody needs.

Wouldn't N. Korea be closer to a planned economy? I watched this yesterday, and that country is pretty bizarre.

Re: OpEdNews article calls Mises & Austrian school morons

onebornfree — Wed, 05 May 2010 16:36:39 GMT

Tim_Shoemaker:

This "genius" writes that China's economy is proof that central economic planning works and claims the Austrian & Chicago school have been thoroughly discredited.

From OpEdNews:

Fortunately for them [China] and for the Western world - which is essentially broke - China is NOT following the Austrian school at all, and they are so far ahead of the Chicago Quants and Austrian (supposedly) free-marketers that those two groups literally can't comprehend how China manages its economy.

The free marketers won't even admit that a managed economy is doable, hence their refusal to see a working model in action. They would rather have periodic booms and busts, than admit their economic model is fundamentally flawed, and fatally too.
China is miles ahead of the U.S. in economic management. It is an economy run by serious economists who learn from their mistakes - and ours - and who are not beholden to political partisanship and game-playing for the sake of the election cycle, from a public who is generally too stupid and selfish to understand how the real economy works.

What are your thoughts?

I suggest that you write to the author and tell him to put his money where his mouth is, that is, take all of his retirement savings and invest them all in Chinese companies and nothing else.

Regards, onebornfree.

Re: OpEdNews article calls Mises & Austrian school morons

Bogart — Wed, 05 May 2010 16:34:37 GMT

Simply ask the author the following:

1.If violently managed economies are superior in China then why not apply this great model to Hong Kong and the surrounding special economic zones?

2.In the same area, why not remove the property rights and other hindrances to the superior performance of the violent managers?

Re: OpEdNews article calls Mises & Austrian school morons

Sieben — Wed, 05 May 2010 16:17:13 GMT

The author seems to imply that wise and benevolent dictators can and will centrally plan economies efficiently and equitably. The incentive problem of the state is the elephant in the room.

Re: OpEdNews article calls Mises & Austrian school morons

nandnor — Wed, 05 May 2010 16:12:02 GMT

When the chinese bubble burtsts, they will not be ready for the big surprise. But the austrians, again will be right

Re: OpEdNews article calls Mises & Austrian school morons

Gewehr98 — Wed, 05 May 2010 16:02:43 GMT

"...- and who are not beholden to political partisanship and game-playing for the sake of the election cycle"

Having one ruling party generally does simplify that nasty little problem, doesn't it?

Re: OpEdNews article calls Mises & Austrian school morons

Giant_Joe — Wed, 05 May 2010 15:53:21 GMT

China isn't a managed economy. Faulty premise, bad article.

OpEdNews article calls Mises & Austrian school morons

Tim_Shoemaker — Wed, 05 May 2010 15:45:15 GMT

This "genius" writes that China's economy is proof that central economic planning works and claims the Austrian & Chicago school have been thoroughly discredited.

From OpEdNews:

Fortunately for them [China] and for the Western world - which is essentially broke - China is NOT following the Austrian school at all, and they are so far ahead of the Chicago Quants and Austrian (supposedly) free-marketers that those two groups literally can't comprehend how China manages its economy.

The free marketers won't even admit that a managed economy is doable, hence their refusal to see a working model in action. They would rather have periodic booms and busts, than admit their economic model is fundamentally flawed, and fatally too.
China is miles ahead of the U.S. in economic management. It is an economy run by serious economists who learn from their mistakes - and ours - and who are not beholden to political partisanship and game-playing for the sake of the election cycle, from a public who is generally too stupid and selfish to understand how the real economy works.

What are your thoughts?