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Finally we Hermann Hesse's full length novel, The Glass Bead Game, for which he won a Nobel Prize, describing a syllabus in mainstream economics. We cannot quote it in full, but instead let wikipedia do the talking: The Glass Bead Game takes place at an unspecified date, centuries into the future. Hesse suggested that he imagined the book's
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Dave has written lately about the toxic effect a mainstream economice course has on the brain. I've described the slippery slope to madness here: http://mises.org/community/forums/t/33177.aspx I've elaborated on why these courses are useless here: http://mises.org/community/forums/p/33144/516773.aspx#516773 Now is the time to help save the unfortunate
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I'm going to assume that you're being deliberately disingenuous here. The question I have is, why? It's all he's got.
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I've taken zero economics courses, and I am gratefull that I didn't. I see every day the way they twist the thinking of people who take them. I used to think maybe these people are dummies to begin with. But then I saw cases of people taking the courses, and their minds turning to silly putty before my very eyes. You have been warned. Like Homer
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Yes, value is subjective. Progress. But you still don't know what "backed by" means. It does not mean "has some cost of production". The fact that bitcoin needs wattage [which has value] to get made gives bitcoin, or anything else for that matter that requires wattage to be made, exactly zero value. The value of something does
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Point me where I failed at interpreting Mises's Theory of Money and Credit. Chapter and Page number. You failed way before that, because you think wattage spent gives bitcoin value somehow. You don't get the ABC's, the baby steps. You don't know what value is and where it comes from. Money and Credit is too advanced for you. My opinion
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Toxic, The topic is not what liquidity is [which you defined wrongly in your last post, btw]. All you wrote is irrelevant. Have you even read the regression theorem? I don't know how to get through to you, so I hereby give up trying. Horse has been led to water, nothing more to do.
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Whose language are you referring to? What is the name of this website? I'm here to focus on the subject not get into a flowery debate about definitions. You are out of focus because you don't have the definitions correct. You are saying, "I want to build a castle on this spot, not get into debates about some quicksand here." ...I'll
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Don't know whether Nietzsche had anything profound to say, but from what I've seen many people have the following series of thoughts when reading him. 1. Deep down, I'm insecure and feel inferior. 2. And look, here's Nietzsche saying there are Supermen in this world. 3. Why don't I hide my feelings of insecurity by telling myself
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...what "research" are you referring . Find out what "backed by" means. Find out what "value" means. Find out what "intrinsic value" means. Toxic has to do the same research, BTW. Hints: "Backed by" does not mean "needed such and such for its creation." "Backed by" does not mean "protected