Economics Questions

Re: Does anybody else find Austrian economics enlightening

Jacob Bloom — Fri, 26 Jun 2009 16:49:24 GMT

Sage:

inquisitiveteenager:
It truly is like the light at the end of a tunnel.

Indeed. I remember being amazed at how many things could be explained by economics. Before I learned economics, I couldn't make sense of half the stories in the newspaper. Now I can understand exactly what's going on.

Explanatory power of economics = amazing.

Yes, I agree. Economics is really just the study of incentives. Incentives explain everything.

Re: Does anybody else find Austrian economics enlightening

Erickk — Fri, 26 Jun 2009 11:41:20 GMT

I very much feel the same as the OP does.

I got to know AE when I was researching some Federal Reserve Conspiracy Theories. I remember at that time my mind was filled with nonsense like "the power to issue money should not belong to the private bankers, but to the government, so people should advocate "federalizing the Federal Reserve". However, after reading Rothbard's The Case Against the Fed, I finally understood why the Fed is bad--not because of its private nature, but the central banking systyem as a whole. Nevertheless, the real genius of Rothbard lies in his brilliance in breaking down those profound, sophisticated knowledge into clear, simple explanations, making laymen much easier to understand how the economy works. HIs "What Has Government Done to Our Money" is just another embodiment of AE's appeal to the laymen and indisputable logic behind every word. With these two thought-provoking books, I finally understood what money is, the origin of money, how banking system functions, why inflation always redistributes wealth, and how Gold Standar works and why it is the only way to cure today's international economic system.

Re: Does anybody else find Austrian eccnomics enlightening

ladyattis — Thu, 25 Jun 2009 00:52:52 GMT

The most significant reason why I find AE to be quite illuminating is how often I find both Mises and Hayek mirroring what would be stated later in other social sciences such as psychology (group and cognitive) or sociology (emergent complexity of social systems, theory of small networks). So, when I started reading their works, it just couldn't shake the idea that maybe they were far ahead of their time.

Re: Does anybody else find Austrian eccnomics enlightening

Andrew Cain — Thu, 25 Jun 2009 00:17:53 GMT

He is more about real estate.

Re: Does anybody else find Austrian eccnomics enlightening

Pvincent87 — Wed, 24 Jun 2009 22:51:14 GMT

I know that the author of rich dad poor dad considers silver an extremely good investment and he owns a substantial stake in a silver mine--that is if he does not own the thing outright by now.

He can't be that much of a bozo........or am I wrong?

Re: Does anybody else find Austrian eccnomics enlightening

Andrew Cain — Wed, 24 Jun 2009 09:20:23 GMT

It is basically a book to sell books.If you have any economic knowledge then you shouldn't actually buy the book, especially since the author talks of the joys of homeownership and using it to create wealth. Looking back it is clearly housing bubble mentality

Re: Does anybody else find Austrian eccnomics enlightening

Conza88 — Wed, 24 Jun 2009 04:54:07 GMT

Retrolives:

A friend of mine was talking about how amazing Rich Dad Poor Dad is. I subsequently explained the ABCT and he was quite blown away. Is RDPD a load of typical socialist/statist propaganda? What is the general thesis?

No idea. Well someone just blasted him in the blog about Suze Orman.

Guess I'll have to read it..

Re: Does anybody else find Austrian eccnomics enlightening

Retrolives — Wed, 24 Jun 2009 01:14:46 GMT

A friend of mine was talking about how amazing Rich Dad Poor Dad is. I subsequently explained the ABCT and he was quite blown away. Is RDPD a load of typical socialist/statist propaganda? What is the general thesis?

Re: Does anybody else find Austrian economics enlightening

Andrew Cain — Tue, 23 Jun 2009 19:16:37 GMT

Sage:

Indeed. I remember being amazed at how many things could be explained by economics. Before I learned economics, I couldn't make sense of half the stories in the newspaper. Now I can understand exactly what's going on.

Explanatory power of economics = amazing.

Its good to be educated Now why I know the government wants its citizenry docile and stupid.

Re: Does anybody else find Austrian economics enlightening

Sage — Tue, 23 Jun 2009 19:15:11 GMT

inquisitiveteenager:
It truly is like the light at the end of a tunnel.

Indeed. I remember being amazed at how many things could be explained by economics. Before I learned economics, I couldn't make sense of half the stories in the newspaper. Now I can understand exactly what's going on.

Explanatory power of economics = amazing.

Re: Does anybody else find Austrian eccnomics enlightening

Andrew Cain — Tue, 23 Jun 2009 18:50:07 GMT

Conza88:

Is this it? http://www3.ntu.edu.sg/home2005/ca0001ai/RichDadPoorDad.pdf

That it is.

Re: Does anybody else find Austrian eccnomics enlightening

Conza88 — Tue, 23 Jun 2009 11:28:28 GMT

Anarchist Cain:

I actually picked up my old copy of Rich Dad, Poor Dad yesterday. I read it like 3 years ago and find it extremely enlightening, after reading what I have read on Austrian economics I feel it would make a good child's coloring book or perhaps a mug coaster. Ooo a paperweight!!

Is this it? http://www3.ntu.edu.sg/home2005/ca0001ai/RichDadPoorDad.pdf

Re: Does anybody else find Austrian eccnomics enlightening

Andrew Cain — Tue, 23 Jun 2009 09:04:05 GMT

inquisitiveteenager:

It unmasked all those questions i had about money. I would go to a library to the money section contained ways to make money and all that nonsense, yet not one book explained it's origins as well as Rothbard.

Even in school we never touch the money issues.

It truly is like the light at the end of a tunnel.

I actually picked up my old copy of Rich Dad, Poor Dad yesterday. I read it like 3 years ago and find it extremely enlightening, after reading what I have read on Austrian economics I feel it would make a good child's coloring book or perhaps a mug coaster. Ooo a paperweight!!

Does anybody else find Austrian economics enlightening

inquisitiveteenager — Tue, 23 Jun 2009 08:50:59 GMT

It unmasked all those questions i had about money. I would go to a library to the money section contained ways to make money and all that nonsense, yet not one book explained it's origins as well as Rothbard.

Even in school we never touch the money issues.

It truly is like the light at the end of a tunnel.