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19221Nothing new to see here/was Re: [LeftLibertarian2] more signal

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  • quasibill
    May 12, 2008
      --- In LeftLibertarian2@yahoogroups.com, Dan Ust <dan_ust@...> wrote:
      > --- On Fri, 5/9/08, Kevin Carson <free.market.anticapitalist@...>
      > > Especially interesting was the observation that a low
      > > discount rate
      > > doesn't necessarily translate into low interest rates
      > > for ordinary
      > > people. It's a low interest rate for those standing
      > > closest to the
      > > Fed's money spigot.
      > This is nothing more but Austrian Economics 101 on inflation and
      other interventions: none of these are transmitted instantaneously
      throughout an economy. The fact that such policies are harmful in
      the long run and throughout the economy, of course, goes along with
      their short run, localized benefits.
      > Regards,
      > Dan

      Actually, Dan, I was hoping you'd chime in on this. Is there an
      Austrian who is applying the theory to the facts on hand in a
      cohesive manner like the article cited? The Mises crew has a few
      that seem to have a passing interest and recognize that "mal-
      investment" can be "over-investment", but I haven't caught many
      propounding detailed, cohesive descriptions of current events. From
      past comments, IIRC, you had knowledge of non-Mises austrians who
      specialized in ABCT - I'm really curious if they're trying to apply
      their insights to current events.

      Interestingly enough, Reisman had a pretty decent post there a couple
      of months back on the economy. Had a few of his well-known blind-
      spots (like pining for a gold-standard instead of a free market in
      currency), but pretty good, nonetheless.

      I'd appreciate it if you could point me in the right direction.
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