yeah they have no empirical evidence but there is empirical evidence which just shows the oppesit of there so called theorie.

Yeah lol

> The Wörgl Experiment
> One Schilling note with demurrage stamps from Wörgl
>
> Wörgl was the site of the "Miracle of Wörgl" 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 ‘school’ 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 wörgl 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"

https://dict.leo.org/englisch-deutsch/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

https://en.wikipedia.org/wiki/Silvio_Gesell

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 ‘free land’... Gesell's chief work thus carries the title ‘A Natural Economic Order Through Free Land (!) and Free Money’. It proves that the real aspects of an economy – that is to say, the claim on land or resources – 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