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View Diary: Familiarize Yourselves With A Liberal Hero / The Fallacies of Austrian Economic Ideology (108 comments)

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  •  Feeble (0+ / 0-)

    You were the one who lumped the Austrian School all together as one thing, who preferred insult to engagement and even now presumes to judge, from his lofty height, that economics was a contest whose basic issues are so entirely settled that there is as little point in revisiting as there would be in revisiting phrenology. This is, to be charitable, an eccentric view.

    I must confess, though, to being alienated by your admiration for Marx (let alone Bukharin!), by which you personify the reification of consciousness. I shall bother your concrete conceptions no longer with any useless abstraction.

    BTW, if you believe that academia works along the lines of "improve or die," I suggest you avoid that sector, lest total disillusionment strike. I know—that's where I make my living. I'd say death is more evident than improvement—even in the economics dept. I am not, however, the disciple of that or any other dead discipline. All I originally said was that there is more to the discussion of the gold standard than you appear to know anything about—a conclusion that you have done much to strengthen and nothing to dispel.

    •  They ARE Settled (0+ / 0-)

      Look at any debate involving Austrians and their source material is always from 50 years ago, all of it is based on deductive logic and axiomatic 'truths' just like when Hayek was pestering Keynes.

      What cured the depression? Letting aggregate demand work itself out - as had been policy for hundreds of years before that, or did the Government deciding to spend money end the depression?

      Keynes won; do the right thing and change your worldview.

      And THANK YOU for not wasting my time with more abstraction; I get enough useless fantasizing from the Austrians and their barely related neoclassical brothers.

      To your stupid - yes, stupid, as in fully jumping over the chasm of ridiculous, claim that Academia is corrupt therefore Austrians can never win (teardrop). Prove it. Find an idea that took 300 years to find acceptance in mainstream science despite overwhelming objective evidence in its favor.

      You cannot.

      Just look at climate change: there is a reason why there is such a massive consensus on the issue and a reason why the dissenters look like cranks: BECAUSE THEY ARE CRANKS!

      though since you're in full retreat maybe I am just wasting my time.

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