Author Topic: Why I am an Austrian Economist [BLOG POST]  (Read 8092 times)

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Offline bytemaster

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.
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Offline gamey

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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.
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Offline bitmarket

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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 Thom

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 eagleeye

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An economist cant predict the future of when a stock market collapses, therefore I call myself a financial scientist.  At least yet.

Offline eagleeye

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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 jae208

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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 lakerta06

a small typo:

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

Offline bytemaster

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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Offline toast

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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

« Last Edit: January 09, 2015, 11:03:55 am by cass »
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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.