Posts tagged austrian economics
The majority of people, and certainly popular economists and politicians, constantly urge us to support government economic interventions, bailouts, and Federal Reserve monetary massages to “save us from another Great Depression.”
But what if their valiant brilliance is steadily drowning us in a sea of paper money and debt instead of energizing our economy? What if there are other schools of thought that show us a clear and proven path out of our economic trauma?
Enter Austrian Economics and the counter-intuitive power of freedom.
Freedom: yes, it is an amazing speech from Braveheart, but is it also the root of economic prosperity?
No! Freedom in the hands of greedy capitalist pigs who are willing to pillage and destroy the planet is our greatest enemy! Without the government to protect us we’re all screwed! -Samantha Statist
Well, yes, people can be greedy, and certainly capitalists have done harm to the planet; but you must ask yourself: who gave them that power? Was it the government and their apathy towards property rights? And specifically to finance: was it the government that mandated banks to lend massive quantities of money to people without financial aptitude and ability to repay? Was it the government that lowered interest rates so low that borrowing and spending money was as easy as breathing and as exciting as binge drinking in Atlantic City?
When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans. -Ron Paul
If you have eyes and ears, you are painfully aware of our economic problems. How to solve them requires listening to the people who saw this coming—hint: there’s a dozen or so collected in the superb soon-to-be-released documentary The Bubble.
Check the interview below for an introduction to the driven, talented and wise beyond his years Director, Mr. Jimmy Morrison—and lookout for the film when it drops in the upcoming months.
Here’s the latest interview folks! This time with the brilliant, insightful and quite funny economist Dr. Robert Murphy.
We all suffer from the global disease of government, this man has answers that strike the “great idea” button with me harder than about anyone I’ve ever heard.
In the hour long discussion Dr. Murphy nails a spectrum of topics from the core essence of free market economics and “libertarian” environmental solutions, to the relevance of God and The Bible in commerce, and even the scary but very real “new world order” and their goals/actions in today’s society—among MANY others!
I hope it serves you well–if you like it please share, I think the world will benefit greatly from his work.
Although I have profound and limitless respect for our armed forces; and it is incredible to imagine The United States as the Christian saviors of the world it is a logistical impossibility that almost always comes with more problems than benefits long term. Everything I need to know on this topic I learned from Mickey Mouse and his tragic apprenticeship (hint: our arrogance creates monsters we can’t control).
Beyond the horrific reality of war and the cost to our youth’s humanity, mental health and quality of life outside of battle back in the real world; war is an economically devastating event. Prices on common goods like leather, steel and kevlar are increased exponentially, invoices are fudged, defense contractors rake Uncle Sam’s credit card through fire and much more en route to incredible profits for “defense” contractors and mile-high debts for American taxpayers. Not to mention the true lotto winners: the financiers who often finance both sides of a conflict and bankroll entire nation’s war chests.
Although we’re often told that WW2 got us out of the depression imagine what our economy would have been like with the resources spent in war being driven into socially useful goods, businesses and bank accounts.
For an infalliably precise perspective on this check out Austrian (in philosophy, not birth) economist Robert Murphy’s brilliant article on WW2 and our exit from The Depression here.
As Marine Major General Smedley Butler said, “War is a racket!” This same sentiment was echoed by President Eisenhower in his farwell address to America regarding the military-industrial complex, the corporations that run it, and the incredible risk to The American Way that it poses.
If we seek to return to prosperity, peace and passionate pride we must redefine what it means to be a “good American.”
Here’s the article about our involvement in Lybia continuing indefinitely, arg.
This is too funny.
For readers who aren’t geeks of economics, “Keynesian” economics (say CANE ZEE AN) is a school of thought that worships white guys and believes they have scientifically larger brains, scoffs at foolish consumers, and seeks to cage and master an infinitely complex system (read: the economy) that can be tweaked, twisted and turned at the whims of their brilliant, all-knowing, godlike will–and without negative consequences or unexpected side-effects.
Yes I exaggerate (and believe in the unequivocal and complete equality of all mankind) but if you asked a room full of Austrian economists–who in my experience are funny guys–and true free-market pioneers that believe in your freedom to determine your life’s trajectory without the government telling you when, how or why to live your life, they’d probably agree with the above hyperbole.
If this is foreign or domestic to your own knowledge of the world, check out the short film/music video: The Fight of the Century Round Two. Pure genius; funny, true and masterfully produced.
The below video is brilliant–get wise folks or a smart ass with a blog is going to make you look retarded sooner or later!
Austrian: Peter Schiff, May 2002, “People are starting to see that Wall Street is conning them.”
Peeved about the bailouts estimated to be as high as $23 TRILLION?
Angry at Wall Street getting a free pass while your student loans, mortgage and credit card bills stay high?
Furious at the massive bonuses on Wall Street paid out of taxpayer bailout money?
Well then my friend you have a choice: you can decide to get angrier and angrier until you spontaneously combust with rage, or you can educate yourself on the alternatives to this type of economic thinking known as Keynesian Economics and take action.
The following video illustrates that the leadership of The Federal Reserve and other major economic leaders like Paul Krugman and Ben Stein are either totally underserving of our economic respect or intentionally crippling this country’s economy.
Now, considering the The Fed has spent trillions in your tax dollars and has bailed out foreign banks while your debt remains dangerously high what do you think about a private bank (yes, The Federal Reserve is a private business) that is supporting foreign nations with YOUR money?
If you’re wondering about alternatives to this system check this out:
End The Fed, by Dr. Ron Paul
In this very well-produced video from Young Americans for Liberty at Indiana University Ron Paul makes the simple and profound case–the same one he’s been delivering for 30 years or so now–that The Federal Reserve, big government, and an aggressive foreign policy are reponsible for the vast majority of our country’s problems right now AND, it is more liberty, smaller government and peace that will get us out of this mess.
If you’re open to Dr. Paul’s message–or you disagree completely–please have a look at the video and discuss in the comments below!
In the attached interview with Lawrence “Larry” Reed we seek to inspire and empower while proving the validity and value of individual rights, personal responsibility and liberty-promoting solutions.
Mr. Reed draws upon his wealth of real-world knowledge with specific and humorous examples that prove it’s never too late for a nation and a people to turn from tyranny and government dependence to peace, prosperity and self-reliant success.
As a freelance journalist for over 20 years, his insights and theories have been forged in the brutal testing ground of the real world not just in college lectures halls–although he does have degrees in economics, history and public administration. In addition to his leadership with FEE, Mr. Reed also serves as President Emeritus of The Mackinac Center for Public Policy.
From living with guerilla fighters during the height of Mozambique’s civil war to being arrested in communist Poland while traveling with illegal resistance groups his knowledge is matched by his courage, character and commitment to liberty.
I hope you enjoy watching the video as much as I did while making it.