19221Nothing new to see here/was Re: [LeftLibertarian2] more signal
- May 12, 2008--- In LeftLibertarian2@yahoogroups.com, Dan Ust <dan_ust@...> wrote:
> --- On Fri, 5/9/08, Kevin Carson <free.market.anticapitalist@...>
>other interventions: none of these are transmitted instantaneously
> > 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
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.
>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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