What
the Business cycle is completely artifical
and so are recessions
That’s just pie-in-the-sky idealism
It’s like saying communism would work perfectly
Or any system would work perfectly
No it wouldn't because you can't surpress markets
You can’t avoid market fluctuations and downturns
You can
because they don't exisst
the whole reason the boom and bust cycle exists is due to cheap credit and interest rates manipulations by central planners
or it wouldn't exist
You’re going against basically all of any economic theory ever in history.
No
There *was* no central bank in America for much of the 1800s.
Austrian economists agree with me
there was a treasury and legislation
and there was central banks
Read what I said above dude
Market fluctuations are an inseparable part of a capitalist economy.
No it is not
Boom and bust cycles do not exist in a capitalist market
the free market does handle allocation of resources perfectly
And remember, America wasn't a free market in the 1800s
there was more intervention than people think
Thats not what the Austrian school thinks
anyways
But i'm pretty sure thats wrong
he was against central banking
The free market doesn’t handle the system perfectly because no system can. There are always positive feedback loops.
doesn't exist
If a price of anything goes up, people will buy it because they assume it's likely to go up more. That's a positive feedback loop.
Yeah that was said for deflation too
which was not the case as 90% of the time deflation happened no recession did
It's inherent to a capitalist system. The benefits of capitalism far, far outweigh the negative effects of these feedback loops, but you can't remove them entirely by taking away *anti*-cyclical forces.
No it does not my dude
Boom and Bust cycles
Are not inherent
they are artifically created by manipulation of interest rates
