Ten Key Economic Principles

Discussion in 'Economy' started by eagleseven, Jan 30, 2010.

  1. eagleseven
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    eagleseven Quod Erat Demonstrandum

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    Words to live by.
     
  2. ☭proletarian☭
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    Unless you're born rich you experience serendipity

    Most people do not act rationally most of the time. People are emotional creatures. Just look at bank runs or the growing debt.

    Punishment works better. Classical studies in conditioning show that negative consequences (especially pain) leave stronger impressions that most rewards.
    pa
    Not always. Consider Japan upon Western encroachment or the US-China trade relationship today.
    Wrong. They're the most effective way of ensuring the rich get everything and the poor get nothing.
    'INtervention' is usually a bad thing. Regulation is another matter.
    In part. They most produce that which they need or something that can be readily traded for what they need.

    Of course, it doesn't matter how much you produce if little or none of the surplus value translates into increased wealth for the labourer. a nations standard of living is largely determined by the Proletariat's ability to benefit from its own labour instead of being exploited by the bourgeoisie
    Not quite. Iflation is excessive money supply.

    The value of the currency determined by the ratio between marketable wealth (eg: iron, steel, cotton) which can be put on the market (not subject to embargo etc) and the money supply.

    Devaluation of the means of exchange occurs when the money supply is too high in relation to marketable wealth.

    I disagree. They're rather ignorant words, in several regards.
     
  3. eagleseven
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    eagleseven Quod Erat Demonstrandum

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    And this has what to do with opportunity cost?

    And where did the statement address irrational people?

    This is why our prisons are empty and nobody works to improve their condition?

    Japan went from a warlord-ruled rural backwater to a world-conquering industrial empire?


    Spoken like a true socialist.


    One and the same.

    If the people aren't working, there will be nothing to trade, and nothing to consume.

    This is a self-defeating argument, in that the bourgeoisie needs to sell to the proletariat in order to maintain a profit. Henry Ford demonstrated as much.

    Inflation is an increase in prices. It can (most often) be caused by an increase in the money supply, but also by other factors (sudden reduction in production due to war, for example).

    Of course.

    I wouldn't expect you to follow them.
     
  4. ☭proletarian☭
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    You said everything always has a cost.

    I have shown that to not be true.

    Many prisons nowadays are too easy on hard criminals. Why reward them with a lifetime of free food and board?


    That was later. Loo at the times of the Opium Wars.

    Or look at the effect on China when the West moved in and started exploiting the Chinese people. You know, the whole series of events that led to the war between the Communists, the KMT, and the foreigners? You know, setting the stage for Mao's rise to power?


    Ever heard of robber barons?

    The result of laisse faire and the unrestricted market

    [ame=http://www.amazon.com/Condition-Working-England-Oxford-Classics/dp/0192836889]Amazon.com: The Condition of the Working Class in England (Oxford World's Classics) (9780192836885): Friedrich Engels, David McLellan: Books[/ame]

    You support the exploitation of the poor and what amounts to pseudo-slavery



    not really. Laws requiring transparency are not the same as artificially lowering interests rates or any other moronic Keynesian 'quick fixes'.
    Working does not mean the people have much of anything, as I've pointed out.


    They need not sell to the labouring proletariat. They exploit the proletariat in China or india to sell in America, where social democracy (the grandchild of reformist communism) has created a middle class with protections from the exploitation inherent in capitalism.

    Inflation is the increase in the money supply (in relation to the wealth represented).

    Higher prices are a result of inflation.


    Moron.


    Read Mises or something and become less foolish.


    I wouldn't expect you to follow them.[/quote]


    Because I'm an Austrian? Or because they're the idiotic ramblings of a fool?
     
  5. ☭proletarian☭
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  8. eagleseven
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    eagleseven Quod Erat Demonstrandum

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  9. ☭proletarian☭
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    A dictionary?

    Sorry, but that's insufficient for the subject matter.
    Austrian School - Wikipedia, the free encyclopedia
     
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