WA Delegate: The Republic of HUFS (elected 87 days ago)
Regional Power: Moderate
Today's World Census Report
The Most Cultured in libertarian
After spending many tedious hours in coffee shops and concert halls, World Census experts have found the following nations to be the most cultured.
As a region, libertarian is ranked 3,352nd in the world for Most Cultured.
|1.||The Blablabla of Anarchyst||Left-wing Utopia||“Where there is authority, there is no freedom”|
|2.||The Armed Republic of Notonthemapistan||Anarchy||“Democracy= 51 beats 49 that's why own a .45”|
|3.||The Most Serene Republic of Resipsaloquituria||Civil Rights Lovefest||“Don't be mean unless you have to”|
|4.||The Armed Republic of Gun Toting Dimwits||Left-Leaning College State||“A free people ought to be armed.”|
|5.||The Free Land of Sublime||Civil Rights Lovefest||“Do as you please so long as no harm comes to others”|
|6.||The Protectorate of Ferravia||Capitalizt||“Prosperity through Freedom and Self-reliance”|
|7.||The Council of FJK Rants||Civil Rights Lovefest||“Use the Force, Trust your instincts”|
|8.||The Republic of HUFS||Liberal Democratic Socialists||“Veritas, Pax, Creatio”|
|9.||The New United States of Jordtopia||Inoffensive Centrist Democracy||“Una Natio sub Deo Libertateque”|
|10.||The Free-dom of Pacifica Omicron||Anarchy||“Come for the beaches, stay for the casual sex.”|
- 56 minutes ago: Regional Founder The Commonwealth of Whipjangle ceased to exist.
- 3 days ago: The Confederation of Riflemen ceased to exist.
- 10 days ago: The Dictatorship of Northern Birchesia departed this region for Capitalist Libertarian Freedom Region.
- 16 days ago: The Republic of Claramas departed this region for Sovereign Charter.
- 18 days ago: The Republic of Claramas arrived from The West Pacific.
- 20 days ago: The Democratic Republic of Greenfort departed this region for Capitalist Libertarian Freedom Region.
- 21 days ago: The Dictatorship of Northern Birchesia arrived from The South Pacific.
- 26 days ago: The Nomadic Peoples of New gypsystan departed this region for Commonwealth of Liberty.
- 26 days ago: The Nomadic Peoples of New gypsystan arrived from Chill Nation Base Camp 2.
- 26 days ago: The Territory of The Forestavian Islands arrived from Chill Nation Base Camp 2.
Libertarian Regional Message Board
If you weren't aware, the final installment of Atlas Shrugged opens next month - I think on 9/12
Are you talking about the movie, it's terrible.
got to say, there is a simple fact revealed by history, that when a recession/depression occurs, a govt issuing a capital investment infrastrucure project does a lot more for economic growth than lowering the interest rate of the fiat money supply.
Did you know Carl Member was for intervention into the marketplace. Crazy huh.
Carl Menger was an interventionist in some ways (for example he was in favour of government schools - which had existed in Austria for a century by his time), however he was free market by modern standards (no more an interventionist than Barry Goldwater or Ronald Reagan).
Carl Menger was really about theoretical economics (methodology) taking those principles to their logical conclusions was undertaken by the next generation - principally by Ludwig Von Mises (1881- 1973 - he was active to an unusually advanced age, still doing good work as late as 1966).
FJK - your "simple fact" is PARTLY counter factual.
I agree that government interest rate cuts are crazy (hair-of-the-dog economics - like trying to cure a hang over by drinking).
But government infrastructure spending is ALSO crazy.
Warren Harding (the most smeared American President in history) did not launch infrastructure schemes (as Commerce Sec Herbert Hoover wanted) when the World War One credit bubble burst in 1921 - he (Harding) cut government spending in half (from six billion Dollars to three billion Dollars) and the economy was in recovery in six months.
In the 1930s (both under Franklin Roosevelt - and under Herbert "The Forgotten Progressive" Hoover) there was endless "infrastructure" spending - and mass unemployment continued. It was only broken by the disguised WAGE CUTTING of World War II - the government pretended that wages were not being cut, because it measured them against official prices (not REAL "black market" prices) - in reality REAL wages were hammered during World War II (and unemployment vanished). In the late 1940s there was real wage growth and still (basically) full employment - because the economy was finally really improving (thanks to the so called "Do Nothing Congress" elected in 1946).
This "infrastructure" government spending obsession really depresses me - even the constant paving over of Japan does not seem to have removed it from the minds of people.
Of course an "infrastructure bank" would mix both forms of insanity - fiscal insanity and monetary (credit bubble) insanity.
Post Keynesians are very similar to Austrians especially Ludwig Lachmann & Shackle(Who is a mix of both). Minsky's Financial instability hypothesis fits into the frame of ABCT specifically the 'Minsky Moment'. So there is a big difference between the Post Keynesians & the Neo/New Keynesians.
Also Menger supported public works, prevention of child labor, subsidies to agriculture & regulation of forest clearing.
Yes indeed - as I said Carl Menger was about economic theory (applying it was for the next generation) - but by the standards of today (or even of his own time) he was not a big government man.
As for saying Minsky is "like......" - no doubt he is. But that does not really reply to the points I made.
That other people share an error does not make it not an error.
For example, Carl Menger was clearly wrong about "public works" and farming subsidies (even though it supported very mild ones by modern standards) - and the fact that his name was "Carl Menger" does not alter that.
you are close to factual, but not quite.
WW2 was paid for by debt to the american tax payer, at the time. the huge govt spending did not produce the usual inflation, due to americans putting all their money into war bonds, which had a negative return.
the issue with japan is that the banks are kaput. their balance sheets hold bad debt. the govt of japan needs to buy the bond debt, freeing up the bank capital. a story from a mate said that deutche bank does not want to leave japan, even though it would improve the return on japanese bonds. Otherwise, they would look bad, reduce the stock price, as they would be questioned of why deutche bank left the improving finance sector of japan. This paradox is a problem only the govt can solve.
Government shouldn't guarantee banks solvency - plain and simple. Why if I go broke while playing in Vegas casino government doesn't bail me out of my "bad investments"? How exactly average citizen is different from a bank? Easy, banks bribe politicians with election campaign donations, while average Joe won't. Its socialized costs and privatized profits. Society doesn't owe banks anything, FJK. Let them fall. Inefficient companies failing is not a flaw in free market, its the whole point of free market.
@Paul Yes I read what you said about Menger I simply posted what he supported because I couldn't remember them off hand in my first part.
Why are you so defensive I wasn't directing this entire post at you yet you feel as if I did. It is attached to my previous post where I asked claramas if he had Post-Keynesian leanings. If I had directed it at you then I would have responded to you point by point no doubt about that. Please ease up on the siege mentality.