๐โeconomics
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<:blobokhand:428315439173468180> Nuked this channel.
https://imgur.com/LIyGeCR
this is the only channel that fully indorses anarchy
!d bump
Some country's need Keynesian economics
Austrian economics is always better in the long run
Keynesians tend to stacking up inflation over long run
austrian economics lmao
Keynesian? Austrian? Chicago!
https://www.youtube.com/watch?v=7uAUoz7jimg
@beni well the most importent missunderstanding of keynsesn politics is that its an theorie about money and most economics forget that part of it is, to reduce money in a high inflation phase and increase goverment investments in an deflation. Do not know australien school i am gesellianer where john maynard keynes said:
The world will learn more from gesell as from Marx.
And i know why.
In the long run we are all death.
> @beni well the most importent missunderstanding of keynsesn politics is that its an theorie about money and most economics forget that part of it is, to reduce money in a high inflation phase and increase goverment investments in an deflation. Do not know australien school i am gesellianer where john maynard keynes said:
>
> The world will learn more from gesell as from Marx.
>
> And i know why.
@hororizon44575
It seems good on paper but Keynesians are barely able to reduce money supply during inflationary phase (good times) the amount the pump into market during crisis or recession is never compensated completely in the long run.
> austrian economics lmao
@OprahWindFury
I am not surprised a commie don't know what it is.
@beni well i looked it up yes hayek bulshit i know
i mean why would anyone increase cost for money in an deflation phase
No, you are getting it wrong. The best thing to do during deflationary phase is to let free market recover without interfering in it.
Money velocity is determined by the availability of goods and services as well as sentiments of people not amount of paper in circulation. Keynesians fail to understand that.
if you do that banks will increase the cost for there money which leads into economical collaps
if you do not believe look at "wunder von wรถrgel" an economic crises becouse of no money in the system
Increasing cost of money does not mean economic collapse. Real value is not in the fiat currency but the labour done and goods produced, it will delfate currency and adjust itself.
> if you do not believe look at "wunder von wรถrgel" an economic crises becouse of no money in the system
@hororizon44575
There are immense number of crashes caused due to pumping fiat currency into system during crisis and not being able to control it which lead to hyperinflation
When you deal with a monetary system which is not limited (like gold back currency) it's value will always deteriorate over time if Keynesian methods are applied
it would increase the deflation
becouse if money cost more people will bunker money
which increase deflation becouse of no investments
well i am an gesellianer (i know pumping money into the system brings problems) thats why i am for giving an price for bunkering money.
and no not like inflation more like a tax on Banknotes and directly usabel bank kontos
while reducing the number of given kredits in the system (less credits and faster/more exchanges)
Deflation is bad but letting it get solved naturally overtime has the least negative consequences as compared to the hyperinflation caused by giving stimulus for discouraging cash bunkering while inevitably lead to sudden burst in demand
banks will not give kredits for many reasons (one is becouse the money is worth quite much. Secend is why go into risk and financ samething if noone buys samething. If you want to solve this naturaly that would mean great depression.
of course I know what Austrian economics are
praxeology <a:BBoomer:587002239353356302>
btw silvio gesell wonder of wรถrgel comes from austria
The Wรถrgl Experiment
One Schilling note with demurrage stamps from Wรถrgl
Wรถrgl was the site of the "Miracle of Wรถrgl" during the Great Depression. It was started on July 31, 1932, with the issuing of "Certified Compensation Bills", a form of local currency commonly known as Stamp Scrip, or Freigeld. This was an application of the monetary theories of the economist Silvio Gesell by the town's then-mayor, Michael Unterguggenberger [de].
The experiment resulted in a growth in employment and meant that local government projects such as new houses, a reservoir, a ski jump and a bridge could all be completed, seeming to defy the depression in the rest of the country. Inflation and deflation are also reputed to have been non-existent for the duration of the experiment.[citation needed]
Despite attracting great interest at the time, including from French Premier Edouard Daladier and the economist Irving Fisher,[3] the "experiment" was terminated by Austria's central bank Oesterreichische Nationalbank on September 1, 1933.[4][5]
In 2006 milestones were placed, beginning from the railroad station through the downtown, to show this history.[6]
i have a question the so called austria school what have this school done 1932? maybe blocked an sucessful money experiment.
The Austrian โschoolโ of economics is widely discredited in mainstream economics, and they have zero empirical evidence for their theories
yeah they have no empirical evidence but there is empirical evidence which just shows the oppesit of there so called theorie.
Yeah lol
> The Wรถrgl Experiment
> One Schilling note with demurrage stamps from Wรถrgl
>
> Wรถrgl was the site of the "Miracle of Wรถrgl" during the Great Depression. It was started on July 31, 1932, with the issuing of "Certified Compensation Bills", a form of local currency commonly known as Stamp Scrip, or Freigeld. This was an application of the monetary theories of the economist Silvio Gesell by the town's then-mayor, Michael Unterguggenberger [de].
>
> The experiment resulted in a growth in employment and meant that local government projects such as new houses, a reservoir, a ski jump and a bridge could all be completed, seeming to defy the depression in the rest of the country. Inflation and deflation are also reputed to have been non-existent for the duration of the experiment.[citation needed]
>
> Despite attracting great interest at the time, including from French Premier Edouard Daladier and the economist Irving Fisher,[3] the "experiment" was terminated by Austria's central bank Oesterreichische Nationalbank on September 1, 1933.[4][5]
>
> In 2006 milestones were placed, beginning from the railroad station through the downtown, to show this history.[6]
@hororizon44575
This was nothing in front of Keynesian manipulation during 2008 economic crash
2008 was not becouse of keynsean it was becouse of not doing keynsean politics
> The Austrian โschoolโ of economics is widely discredited in mainstream economics, and they have zero empirical evidence for their theories
@Cade
It is discredited because it doesn't promote quick but harmful methods which does more harm than good to economy
@beni thats why they was against wรถrgl experiment sucess?
What about successive crashes it caused after it getting mainstream after 36?
you had stamp scripts?
The very creation of fiat currency is a side effect of Keynesian economics
i am talking about irving fisher the other persons who understood silvio gesell you know
lol
no
fiat was there bevore
the ground of fiat money was the transition you can even found in the middle age
wechsel in german do not rly know the english word for it
"wechsel"
promise to pay maybe
Production is what important for economic growth and creates an equal flow of demand. Demand is the afternath of production, not the other way around.
Keynesian target demand not production which ultimately leads to failure.
as a post keynsean i would not say so
> the ground of fiat money was the transition you can even found in the middle age
@hororizon44575
Fiat money is not backed by any limited commodity, such thing is empirical in Keynesian economy's doctrine
fiat money need guarantys to come into the system
the oppesit of the fiat money is always the depts
Yes guarantee is not a limited thing it can be manipulated however the guarantor likes
in my kind of few it would be good to reduce the amount of money in the system by reducing the number of given credits while at the same time increase the speed of money circulating by increasing the number of lended money
credit =/= lending money
Exactly, but Keynesians believe the speed of money circulating always become faster when more is in it
Which causes hyper inflation
Your take is different than a Keynesian
i am an gesellianer
Which is more appropriate
which got praised by keynsean
Every modern economic crisis is caused by Keynesian. The very fact that usa is so astronomically rich due to the reserve currency status of it makes Keynesians get away with blunders
Gesell is the founder of the free economy, an economic outsider who nevertheless was recognized by Keynes, in a certain sense, as his forerunner. He is therefore still considered to be above all a Keynesian economist, even a kind of hyper-Keynesian, that is to say, an advocate of a school that propagates the lowest (nominal) interest rate possible as a means of avoiding crises. Gesell, however, also recognized that the problem of a crisis cannot be solved solely by reducing the rates of interest... Gesell suggests, therefore, as the necessary correlative to the introduction of 'free money' ... the introduction of โfree landโ... Gesell's chief work thus carries the title โA Natural Economic Order Through Free Land (!) and Free Moneyโ. It proves that the real aspects of an economy โ that is to say, the claim on land or resources โ must never be lost from view, even if primary importance is attached to monetary factors. This was recognized more clearly by Gesell than by Keynes.
i always think like people who sai keynes = hyperinflation did not understand that part of keynes is also to reduce the money in the system again.
whats never bin done although.
That's the thing
but thats nothing keynes can do samething about
People underestimate how hard it gets to deflate by removing money supply during inflationary economic boom
Everyone forget to work on it
its eay increase tax for rich
incrase tax in generel
decrease tay in depression
Then rich will just move away
incfrease in boom
And turn it into detroit
and if they move away increase tax for imports of that nations
also if they move thats fast
whats with all there immobil capital
They tend to make strong lobbies in political field of their respective nations
And tend to steer tax policies to their profit
i know
Only in an authoritarian socialist nation, it won't happen
thats why i am an gesellianer not an pure keynseaner
btw if i would found that in english its basicly what i found an good idear
I personally belief weak state and leniency in economic policies ultimately lead to rich lobbying in government
but well sry i take my leave now.
We wouldn't have to worry about the economy if we all embraced big brother
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