Message from @Mr. Nessel
Discord ID: 694136176289775777
Does discord put up on the book title? (I know the book though)
Pick up*
Wouldn't think so just said it like that because it was quick
Charging 6 Unobtainium coins (interest = 1 coin) to borrow 5 U-coins when only 5 coins exist in the entire world would be usury
@AustrianSchoolUbermensch Oh ok, some of the normies will be confused though
Hoppe is great
I need to finish reading DtGtF
edited it
He is great in parts
Can get abit spicy of course
@AustrianSchoolUbermensch I understand the economy but economics is valuefree right? Groups can and will pick traditional ways of living over the optional economic option.
Yes You can understand economics and not be materialistic
e.g you can understand that tariffs are an overall bad thing on your economy and still want them to "conserve communities" or whatever reason, but as long as you understand the long run consequences
but then it becomes a value judgment
Gee I wonder how much better Japan would be now if it didn't create car manufacturing through tariffs
Likewise Korea with its shipbuilding industry and Samsung etc.
Just so bad for the economy
Think of all the cheap shit they could've got with their economy stuck in the primary sector
It's weird how Austrians hate the labour theory of value and still make use of Smith's and Ricardo's model to justify free trade
Just think for a minute about the example usually given about wine and cloth being traded between Portugal and England
Somehow Portugal can just scale up the output of vineyards because they had timesavings. You just throw more labour at it and the Vineyards magically produce more
Somehow there's a magical advantage for England in producing cloth (cloth not wool) so only England should make cloth because you know Portugal as a country is just magically incompetent at turning wool or cotton into cloth
Tariffs are a good thing. The only upside to free trade is that you have marginal cost savings which can have some use if you want cheap raw materials for your industries so they can be competitive enough for export or if you want intermediate/labour intensive goods like steel for further use in your high value added manufacturing
But even then western wages are hardly competitive enough to make it worthwhile to produce anything for export in a western country, being limited to exports which depend on their reputation/branding/quality
The LTV is another issue. Arguement for free trade is that when its cheaper to import foreign, resources at home can reallocated elsewhere for better use. Portugal isn't magically incompetent at producing at turning wool or cotton into cloth. Tarrifs have use like protection of culture for example in agricultural communities which is Abby I support them for that reason though.
@Mr. Nessel What are you even going on about
> "Somehow Portugal can just scale up the output of vineyards because they had timesavings. You just throw more labour at it and the Vineyards magically produce more"
You talk about free trade and don't even bring up the concept of opportunity cost?
Opportunity cost isn't the main argument for free trade. It was comparative advantage
Wow
You're a meme
An actual right wing communist meme
Ah yes I'm a communist for not liking free trade and supporting the policy under which modern capitalism developed
Big brain
All the law of comparative advantage states is that countries will increase net supply of goods by producing goods at the lowest relative opportunity cost
Opportunity cost was characterized in terms of time being invested and I brought that up
I must be missing something?
Are you just saying labour time is to limited?
Because you have other factors of production
I'm saying the model by which free trade is justified relied on two flawed assumptions, one being that it implicitly endorse the LTV and secondly that comparative advantages are temporary in manufacturing
Oh yeah
The logic still applies tho