Economics Questions

Re: ABCT- A Pocket Guide

Michael — Sun, 10 Oct 2010 02:21:31 GMT

Hi Nielsio- The new thread, and link, can be found here:

http://mises.org/Community/forums/p/20089/369472.aspx#369472

Comments are encouraged!

Michael

Re: ABCT- A Pocket Guide

Nielsio — Sat, 09 Oct 2010 20:20:48 GMT

links doesn't work anymore

Re: ABCT- A Pocket Guide

Joe — Sat, 09 Oct 2010 19:44:56 GMT

Blueline976:

Michael:
Blueline- you are an endangered species up here in Mass.

I know :(

we could use you guys up in New Hampshire. Lots of libertarians, but not enough Austrians for my liking.

Re: ABCT- A Pocket Guide

chloe732 — Sun, 03 Oct 2010 05:54:58 GMT

Michael,

Regarding the final version. I liked the lists under "Fluctuations" and "Cluster of Errors".

Regarding the main chart, I'm still having a problem with it. Any presentation of ABCT must include / incorporate the concept of the time structure of production. It is the time structure of production that is being distorted.

I don't see the time structure being presented / explained.

I assume a separate chart would be created to explain the time structure of production. Without it, I'm having trouble buying in to the 1 - 7 cycle shown. especially how it leads back to 1.

Overall, though, nice work!

Re: ABCT- A Pocket Guide

Michael — Sun, 03 Oct 2010 04:33:17 GMT

Good Evening.

Again, many thanks for all of the insightful and constructive comments. Ive posted a final version of Business Cycles and Economic Fluctuations here:

http://quantsol.com/uploads/Austrian_Business_Cycle_Theory_Final_100110.pdf

Given the limited amount of real estate Im working with, I will have to address a few key points verbally.

I started work on a second slide on the Fundamentals of the Monetary system. It is VERY much in DRAFT form but again, I would welcome this audiances comments on where to take it:

http://quantsol.com/uploads/Monetary_System_DRAFT.pdf

Best Regards!

Michael

Re: ABCT- A Pocket Guide

chloe732 — Sat, 18 Sep 2010 05:36:35 GMT

Have you incorporated any of the suggestions yet? Will you post the revised chart?

Re: ABCT- A Pocket Guide

Runyan — Sat, 18 Sep 2010 03:46:30 GMT

What do you have planned for the Cluster of Errors section?

Re: ABCT- A Pocket Guide

Michael — Sat, 18 Sep 2010 03:35:07 GMT

Last call on this post, Id welcome additional thoughts!

Michael

Re: ABCT- A Pocket Guide

Blueline976 — Tue, 14 Sep 2010 02:52:47 GMT

Michael:
Blueline- you are an endangered species up here in Mass.

I know :(

Re: ABCT- A Pocket Guide

Michael — Sun, 12 Sep 2010 22:34:51 GMT

Blueline- you are an endangered species up here in Mass.

Re: ABCT- A Pocket Guide

Michael — Sun, 12 Sep 2010 01:33:10 GMT

Trulib- Thank you. Terrific points and I intend to incorporate them. I actually have an oversized screen that I am going to pull it up on. The text is larger than you'd think on the projector.

Michael

Re: ABCT- A Pocket Guide

Graham Wright — Sat, 11 Sep 2010 19:15:45 GMT

Excellent work Michael.

My only criticism is similar to Chloe's. I think it needs to be made clearer that banks per se are not the problem, but central banking is. Or more specifically, the monopoly on money creation. The slide as a whole could be interpreted as meaning the problem is the greedy banks, because you say "Banks engage in synchronized credit expansion " without making it clear that they can only do this because they are cartelized by the central bank structure, and "Crises arises due to a change in the conduct of banks who typically halt lending", which makes it sound like if banks just kept on lending, there we be no bust but a permanent boom. Despite what you say at the bottom in light blue, and your last point in the green box, I think someone who is new to the theory might go away being unclear about whether the Austrians are saying the cycle is inherent to the market, or a result of government manipulation.

I also noticed you do not make the point that capital goods industries are affected more than consumer goods industries, or explain why this is what we would expect given the theory. Though perhaps this is the kind of detail that you had to leave out for space reasons.

Out of curiosity, how are actually going to present this? The writing is too small for you to display this slide on a screen (unless it is a very big screen). Are you going to make seperate slides where you 'zoom in' to each area?

Re: ABCT- A Pocket Guide

Michael — Sat, 11 Sep 2010 14:34:45 GMT

Great suggestions. Many thanks.

I've presented ABCT to prior classes and comfortable with the level of inquiry. My problem was find a succint, visual way to explain it.

Re: ABCT- A Pocket Guide

Michael — Sat, 11 Sep 2010 14:25:47 GMT

It was acutally just done in power point. I have a few more slides under development like this one.

Re: ABCT- A Pocket Guide

Michael — Sat, 11 Sep 2010 14:23:14 GMT

Thank you. Im at Suffolk University.