Posts tagged Keynesian
Paul Krugman schooled by Spanish “Austrian” Economist Pedro Schwartz
11
The debate between Austrian and Keynesian economic thought is one of the most important, interesting and yet largely ignored or unknown debates of our time.
To be brief, “Keynesian” economists believe that human beings are smart enough to manage an infinitely complex society, bailouts should be given to the businesses they view as valuable, and governments should be able to spend unlimited sums of money/debt on whatever the government decides.
“It is no coincidence that the century of total war coincided with the century of central banking.” ― Ron Paul
If you’re unfamiliar with the topic or enjoy seeing Keynesians get debunked in public the below video featuring Spanish “Austrian” economist Pedro Schwartz is pure gold.
Complete video here, in a mix of English and Spanish. Start around 1:00 for a good English section with back and forth dialogue between the speakers.
As a final goodie, check out this video of Senior Fellow at The Ludwig von Mises Institute, Mark Thornton outlining the incredible foresight, value and power of Austrian economics vs. the over-promising, under-delivering, fantasy of Keynesian thought.
Exceptional presentation by Peter Schiff
0I’ve seen a pile of Schiff vids (if you haven’t seen it, “Peter Schiff was right” is a must-see) and this is the the best from start to finish that I’ve seen.
With power, clarity and clever, entertaining insights Schiff details why Americans enjoyed incredible success during the late 19th and early 20th centuries but is now in a very difficult situation.
His biggest home run in the video is him accurately calling the real estate bubble’s coming explosion…in 2006!
Sue The Federal Reserve?! “Yes, and we can win,” says former Navy Officer Dr. Richard Davis
3If you’re pissed about the bailouts, foreign wars and national debt; meet the guy that has a plan to end the madness of these events by attacking their cause: central banking and The Federal Reserve.
If America didn’t have a central bank (The FED), we wouldn’t be able to finance these projects with Uncle Sam’s credit card because The Fed issues our debt and signs the checks to the military/Wall Street/parasites.
Dr. Richard Davis is a Former Naval Officer (aircraft carriers, Navy Seals, the whole thing), inventor (over 350 patents and trademarks to his name), business man (over $1 billion in market cap for his companies) and a class one trauma surgeon in Tampa, FL.
Even if you love The Fed, think Tim Geithner is brilliant, and believe that suing them is ludicrous; I imagine we can at least agree that the man has proven his critical thinking chops and bare-minimum has the mental horsepower to come up with some pretty incredible ideas, strategies and concepts, yes?
Well then let’s see what he comes up with for central banking, an monetary system and form of government…
If you don’t watch all 5 videos, at least watch the first and the last–he delivers a pretty amazing surprise at the end.
Keynesian Economics vs. Austrian Economics
2
Keynesian: Ben Bernanke, July 2007, “The global economy continues to be strong.”
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
And this:
Interview with Larry Reed, President of The Foundation for Economic Education
10
No matter what your beliefs may be, in our challenging present day economy it’s a fact that diligent economic education, focused action and self-reliance are dearly needed.
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.
ManifestLiberty.com interview with Larry Reed, President of The Foundation for Economic Education from Manifest Liberty on Vimeo.