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Offline bytemaster

« Last Edit: January 09, 2015, 11:03:55 AM by cass »
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Offline toast

Re: Why I am an Austrian Economist [BLOG POST]
« Reply #1 on: January 04, 2015, 12:08:18 AM »


I felt like this did not actually address any of the points made in "why I am not an austrian economist". You just explained what the foundations of austrian economics are and why you like that. I would recommend your article to someone as pre-reading for the "not an austrian" essay, not the other way around.
« Last Edit: January 04, 2015, 12:13:08 AM by bytemaster »
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Offline bytemaster

Re: Why I am an Austrian Economist [BLOG POST]
« Reply #2 on: January 04, 2015, 12:12:59 AM »
I wasn't attempting to debunk the full article.... just one point in it.   The article V pointed me at gets so lost and turned around that it is more of a "trap" that gets people lost in irrelevant details. 
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline lakerta06

Re: Why I am an Austrian Economist [BLOG POST]
« Reply #3 on: January 04, 2015, 12:45:59 AM »
a small typo:

"Do not do unto others what you do not what others doing unto you."

Offline jae208

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Re: Why I am an Austrian Economist [BLOG POST]
« Reply #4 on: January 04, 2015, 03:25:48 AM »
I'm not going to pretend that I fully understand everything there is to know about economics. However, I think you are dismissing the value of math in explaining economics. Math and physics are what explain natural phenomena like the speed at which objects fall because of gravity. There needs to be empirical evidence to back up claims like science. Science is what got us to the point we are in today. Otherwise we'd be living in a Caliphate or something like that.

This is why economics seems to be a bit like pseudoscience to me. Almost like a religion wherein someone explains the existence of a god because of some chance event or something.

I think that different economic systems work at different times depending on what technologies we have. The feudal system used to work and then we had the industrial revolution, printing press, and locomotive that freed many people and gave rise to modern capitalism. Didn't Austrian Economics emerge during that time period too?


For instance endless growth and profit can only go on for so long. Of course this is only a limitation if we stay on Earth, we could colonize the rest of the universe and have continued economic growth that way. Well up until we used up all the energy in the universe, which could happen if we don't go extinct before then.

There is only so much economic growth we can produce on Earth. If we had continued economic growth here without leaving the planet we would probably destabilize ecosystems, more than we have done, and risk our own extinction.

Edit: By the way BM I really like your blog. It looks really nicely organized in my opinion too. I'll start producing content for mine too.
« Last Edit: January 04, 2015, 04:06:27 AM by jae208 »
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Offline eagleeye

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Re: Why I am an Austrian Economist [BLOG POST]
« Reply #5 on: January 04, 2015, 03:44:42 AM »
Dan dont put on a economist slant hat thats why I say im a financial scientist rather than even an economist or even a austrian economist which I would say I am one as well.  But I am also a Keynesian economist and Monetarist.  Each theory explains a part of the whole not the whole, the Austrian theory just explains the business cycle.  Keynesian explains a human tendency problem the Austrian economists did not forsee (I believe).

Offline eagleeye

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Re: Why I am an Austrian Economist [BLOG POST]
« Reply #6 on: January 04, 2015, 03:56:22 AM »
An economist cant predict the future of when a stock market collapses, therefore I call myself a financial scientist.  At least yet.

Offline Thom

Re: Why I am an Austrian Economist [BLOG POST]
« Reply #7 on: January 04, 2015, 05:16:39 AM »
I didn't read the "Why I'm not an Austrian Economist", but I thought Dan's post was excellent and was thoroughly meticulous in explaining his position and why he holds it. Going back to first principles always lays a good foundation for reason.

But then again I'm in the Austrian camp. It seems pretty clear from watching the Keynesian manipulations of the FED how untrustworthy their rhetoric is. The FED has always employed obfuscation and complexity to hide their criminal manipulations of the markets. As Dan illustrates sophism is one of their most often used tools.

Nice touch on identifying the fallacies they use too BM!
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Offline bitmarket

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Re: Why I am an Austrian Economist [BLOG POST]
« Reply #8 on: January 04, 2015, 07:54:15 AM »
I don't think you have insulted Roger Ver and Erik Vorhees yet.  Perhaps you can call their wives fat in your next blog post and then all influential bitcoin leaders will be motivated to see bitshares fail.

Your seriously killing me right now.
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Offline gamey

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Re: Why I am an Austrian Economist [BLOG POST]
« Reply #9 on: January 04, 2015, 08:22:39 AM »
Yea, just chop out that part please.  Not a very good article either to begin to justify the comments.

I still don't understand why you're an austrian economist and I read it fairly closely.
I speak for myself and only myself.

Offline bytemaster

Re: Why I am an Austrian Economist [BLOG POST]
« Reply #10 on: January 04, 2015, 08:40:14 AM »
I don't think you have insulted Roger Ver and Erik Vorhees yet.  Perhaps you can call their wives fat in your next blog post and then all influential bitcoin leaders will be motivated to see bitshares fail.

Your seriously killing me right now.

I took out the criticism of their economic perspective out of respect for your opinion.   I certainly tried very hard to attack the ideas and not the people, but obviously not everyone is able to separate an idea from their ego and thus could see this as a personal attack.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

Re: Why I am an Austrian Economist [BLOG POST]
« Reply #11 on: January 04, 2015, 08:47:30 AM »
Yea, just chop out that part please.  Not a very good article either to begin to justify the comments.

I still don't understand why you're an austrian economist and I read it fairly closely.

I am an Austrian economist because it is the only branch of economics that is consistent with the principles of freedom. This means that it is the only branch of economics that I feel holds the keys to securing the life, liberty, and property of all. Economics matters, invest accordingly.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bitmarket

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Re: Why I am an Austrian Economist [BLOG POST]
« Reply #12 on: January 04, 2015, 09:21:12 AM »
I don't think you have insulted Roger Ver and Erik Vorhees yet.  Perhaps you can call their wives fat in your next blog post and then all influential bitcoin leaders will be motivated to see bitshares fail.

Your seriously killing me right now.

I took out the criticism of their economic perspective out of respect for your opinion.   I certainly tried very hard to attack the ideas and not the people, but obviously not everyone is able to separate an idea from their ego and thus could see this as a personal attack.

I could actually tell you were trying. I suffer from the same.... I am going to call it "I would rather be right than happy" syndrome as you, that is why it is so easy for me to spot.  It is actually quite ironic given the post on subjective value.

I know you are right in that you attacked the argument.... but without understanding the normal persons perspective and how they value their ego, you won't be happy. In this case happy means getting the support of the entire bitcoin community so they are cheering for us in the same way they are cheering for open bazaar or Maidsafe. 

Our technology is better.... We are right... but far too many people would rather see us fail because of this problem.

I think you are the smartest guy in crypto, but you are holding yourself back a lot with this little people skills thing.

I certainly do not mean to be condescending but if you own this learning, and make this correction in your mindset, instead of begrudgingly changing your post out of "respect for my opinion" you will notice the difference immediately.   It will feel like the tide has turned and all of a sudden bitshares is swimming with the current.

Btw, I think Vitalik is like us and won't even think there was an insult in what you said, but his legion of loyal followers will think your a dick and cheer our demise and not our success.
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Offline eagleeye

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Re: Why I am an Austrian Economist [BLOG POST]
« Reply #13 on: January 04, 2015, 09:35:56 AM »
Yea, just chop out that part please.  Not a very good article either to begin to justify the comments.

I still don't understand why you're an austrian economist and I read it fairly closely.

I am an Austrian economist because it is the only branch of economics that is consistent with the principles of freedom. This means that it is the only branch of economics that I feel holds the keys to securing the life, liberty, and property of all. Economics matters, invest accordingly.

Austrian economics is the best we have so far but we needed Keynes and his Keynesianism and you have proved it with your inflation of the money supply (inflation of bitshares).  You must understand that this will become a UN currency or global currency.

Dan from all the people I have ever talked to I have the highest respect for you, never forget that.  I believe you can do great things, things all which your vision desires

**UPDATE** for bitmarket

I agree with what your saying but as Dan has taught me Crypto Currency is an ecosystem it is not about destroying one or another, it is about beating one or another, but the pie will be expanding and getting bigger and bigger and so the slices will be getting bigger and bigger.  I thought Vitalik was the smartest but now it is truly bytemaster.
« Last Edit: January 04, 2015, 09:39:45 AM by eagleeye »

Offline CLains

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Re: Why I am an Austrian Economist [BLOG POST]
« Reply #14 on: January 04, 2015, 10:47:25 AM »
I don't understand why you have to measure value objectively to come to that conclusion; isn't it just tragedy of the commons again? That seems to be a problem with ego rationality in relation to integrated action, the same as occurs in voting and everything else.

For instance, all fishermen agree that the most valuable thing is fishing in a sea of plenty, and yet through each trade they diminish that value: in this case it is evidently the same value, as each fisherman values his own gain relative to the loss of fish in the sea, so "loss of fish in the sea" seems to be a negative value that has an inter-subjective constancy to it.

 

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