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File: 138 KB, 1200x1497, 1200px-Portrait_of_Milton_Friedman.jpg [View same] [iqdb] [saucenao] [google]
57138562 No.57138562 [Reply] [Original]

Based or cringe?

>> No.57138642

>>57138562
Based but not as much as the austrians.

>> No.57138853

>>57138562
Crased

>> No.57139022

The pencil factory video is basically trying to sell globalism as a good thing and it is 100% wrong. Pure cringe

>> No.57139111

austrian economics is better; but his philosophy still better than keynsian

>> No.57139433

>>57138562
based jew

>> No.57139438

This board is a pro Ron Paul board.

>> No.57139468

>>57138562
I'm Keynes-pilled with sympathies to MMT like all healthy NatSocs should be.

>> No.57139706
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57139706

>>57139468
NatSoc didn't use full retard money printing. They backed their currency with work. The NSDAP were socialist in the sense that they did not tolerate capital working against the interest of the Volk, not that they were retarded MMT communist nigger brained imbeciles.

>> No.57139812

>>57139706
MMT people literally drop the term "labor standard". People think MMT means infinite money printing. What it actually means is that you can increase the money supply to the extent that the amount of goods and services in the economy can support that increase in the money supply. They even cite Knapp, a German economist from the early 20th century.

I don't associate with MMT or even call myself a supporter because they're all leftoids, but it's 100% a step in the NatSoc direction.

>> No.57141428

>>57138642
>>57139111
muh austrian school and more broadly monetarism (obsession with the form of money as the driving force of what makes an economy work) is half the reason why the west is choking and sputtering in relation to asia

>> No.57141435

>>57141428
wtf are you talking about. financialization is only possible with loose monetary policy

>> No.57141451

>>57138562
never had the makings of a varsity economist

>> No.57141500
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57141500

>>57138642

Hopefully one day you'll learn that the Austrian school has no idea wtf they are talking about. Watch George Gammon's latest interview with Bob Murphy. Bob couldn't even answer some basic question George had. Bob's a fucking PhD Economist and still had trouble following George. Jeff Snider is the best economist I've seen on YouTube.

>> No.57141510

>>57141435
>financialization is only possible with loose monetary policy
Is this the power of praxeology? Just make up whatever shit you want?

"Financialization" is literally a product of the Chicago school. Fucking MILTON FRIEDMAN HIMSELF SOLD OUTSOURCING AS FREE MARKET MAGIC. Look up the pencil factory video.

>> No.57141620

>>57141510
>pencil factory video
which video there are hundreds

>> No.57141630

>>57141620
>>57141510
nvm i found it

>> No.57141670

>>57141510
i watched the video and i don't understand your argument. you are clearly more learned than I am, I had never heard of the term "praxeology" before.
>s the theory of human action, based on the notion that humans engage in purposeful behavior, contrary to reflexive behavior and other unintentional behavior.
um yes i do engage in purposeful behavior? and yes some of my actions can be unintentional but not all? what are you trying to say here

outsourcing as free market magic doesnt make sense as an argument because the market is not free. each government introduces its own inefficiencies into the market with their laws and regulations and other bullshit

>> No.57141758

>>57141510
>OUTSOURCING AS FREE MARKET MAGIC
Way to say that producing chocolate in tropical countries is more cost effective than cold ones, faggot.

>> No.57141765

>>57141670
>i watched the video and i don't understand your argument.
After the collapse of bretton woods, the fordist consensus, keynesianism in general the chicago school stepped up to the plate. The chicago school is inherently flawed so large portions of the ideology as it is laid out straight up don't work. What does work though is outsourcing - hollowing out your national economy and selling it as free market magic that will make world peace. These same people who say milton friedman is based turn around and whine about globalism, then say because it is not their perfect ideology (impossible since it is unworkable) then it isn't their fault that what they wanted to do fucked their own countries over.

"Praxeology" at its root when it comes to Austrian economics is this:
a priori knowledge is superior to empirical data full stop. This means that Austrianfags literally believe that if reality contradicts their theory, then reality is wrong and their theory is still right.

>outsourcing as free market magic doesnt make sense as an argument because the market is not free. each government introduces its own inefficiencies into the market with their laws and regulations and other bullshit
And there you have it. Prescribe an action, then when it doesn't work blame the fact that reality isn't perfectly aligned with the ideology.

>> No.57141823

>>57141758
>bro it's because of climatic conditions
Yeah it's totally that and not 99.99% of the reason outsourcing happens (undercutting american wages for thirdies)

>> No.57141831

>>57141765
in a nutshel:
>it's wrong because it's just wrong ok?? your theory is just ideology and nothing more
>let's now follow the gorillions other models we built on empiricism, analyzing a chaotic system that can't be predicted and be amazed when none of them ever work

>> No.57141856

>>57141823
i.e. regulations, as the guy above said government introduces their own inefficiencies

Do you want to get mad because someone can make the same output for less?

>> No.57141857

>>57138642
FPBP. Nothing to add really.

>> No.57141876

>>57138562
I duno man. I used love the guy, but I think Keynes brings up a good point with the whole "in the long run, we're all dead" thing. I no longer thing capitalism taken to the extreme is the right answer.

>> No.57141990

>>57141765
And btw, nobody stops you ro formulate axioms based on empirical observations.

>> No.57142268

>>57141876
I think "capitalism taken to the extreme" is the right answer, but it needs to be fucking properly explained and articulated to people. What I see is people want "half-ass capitalism"... they want the part of the free market where they are free to have resources given to them and generate a profit for them... but don't want the part where they are free to loose resources.

They want people to BUY PRODUCT but get communist the second the people BOYCOTT PRODUCT, essentially. They can't take the part of the free market where people are free not to use the product. They get the government involved and try to force the product on people.

>> No.57142291

>>57139468
> Healthy

> NatSoc

Pick one or the other