Homo economicus and what you don't know about money.

Discussion in 'Politics & The Economy' started by BISHI, Feb 10, 2014.

  1. BISHI

    BISHI
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    What You Don't Know About Money but Should

    His very first sentence brought a wry smile to my face.!
    Think he has a point.!
     
  2. karkus30

    karkus30
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    A little more study and he will discover how naive he is.

    First-ignore Milton Friedman as he is a monetarist and was mostly responsible for our current situation. He should have read Mises, Rothbard, Hazlitt, Nock.

    It is the BoE that Governs the system and allows unbacked fractional reserve banking. Its a cartel. That cartel has Government at its permissive heart. Government uses democracy to act. Democracy is kept going by lending money to the state. Its a triad.

    He has made a novice assumption. He believes Government wants to change the system. That the BoE wants to change the system. They don't. Its deliberate.

    He went to university to study economics. Guess what sort of economics a state education system wants to teach. Keynesian and modern monetary theory as espoused by Milton Friedman. This is socialist economics which is Godless and treats money without respect.

    Finally he messed up the rational theory of economics in his opener. He actually proved it was correct. If Doughnuts, bogus offers or free stuff give us more happiness than proper food then we will make that decision. It might well be a bad decision-Mises never makes that distinction.

    Finally, it shows that we make rational mistakes. This is inherent and why we have chosen the free stuff of socialist democracies over capitalist libertarianism. We have chosen doughnuts and free stuff over fresh vegetables and quality meat. We have chosen the unhealthy option, we have disrespected the workings of money and created a financial heart attack. We chose Rulers over self rule and coercive welfare over charity.
     
  3. KiLLiNG-TiME

    KiLLiNG-TiME
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    Mine too...
     
  4. BISHI

    BISHI
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    How are you sure that he is not right and you may be wrong, his book is afterall rapidly becoming required reading on certain courses. Lets see how well your effort does once released..!
     
  5. KiLLiNG-TiME

    KiLLiNG-TiME
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    Well I think the thing is less naivety in the world can only be a good thing !! can it not...??
     
  6. karkus30

    karkus30
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    He should have studied more. Its not a case of right and wrong, I'm pointing out that his work is naive-its like a conspiracy theorist. Its a brave effort, better than some, but great men have already done this work and produced phenomenal works of intelligence that can be read for free.
     
  7. KiLLiNG-TiME

    KiLLiNG-TiME
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    & I believe one of those men is in your sig link Henry Hazlitt.
     
    Last edited: Feb 11, 2014
  8. karkus30

    karkus30
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    Two of them. :) Mises is the greatest economist of all time. Hazlitt one of the greatest economic commentators able to comprehend Mises and relay that information to those who would struggle to read the heft of that work.
     
  9. KiLLiNG-TiME

    KiLLiNG-TiME
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    Indeed I read it ... Economics in one lesson that is as I think Mises would require a lot more from this old mind still we all have to start somewhere :)
     
  10. karkus30

    karkus30
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    Yes, read it slowly. Mises-Human Action is like a fine wine. It needs to breathe, to be decanted and enjoyed slowly. The next best thing is Murray Rothbard-history of banking, theory of credit, libertarian manifesto are all pretty indispensable and relatively digestible.

    Mises-human action borders on spirituality. One day I think it will be seen as the 20th century bible.
     

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