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Economics in One Lesson by Henry Hazlitt Human Action by Ludwig von Mises

by tmaly 10y ago

alejoriveralara 10y ago
Great suggestions! I second this.
chrismealy 10y ago
These books are just old reactionary propaganda. If that's your thing there's much better reactionary propaganda around.
- loki49152 10y ago
  "Reactionary propaganda" is code for "true".
- dmfdmf 10y ago
  What are you a communist? Talk about old. BTW, you should also read Hazlitt's "The Failure of the 'New Economics' ". Hazlitt shredded Keynes and doesn't pull any punches. Too bad nobody listened to him.
- wyclif 10y ago
  I wouldn't be so quick to dismiss these if I were you. One needn't be a free-market capitalist, FWIW, to get a lot out of Hazlitt's book in particular. It's very practical.
tiatia 10y ago
Ludwig von Mises. The master of market economics that never understood capitalism. "This country, and with it most of the Western world, is presently going through a period of inflation and credit expansion. As the quantity of money in circulation and deposits subject to check increases, there prevails a general tendency for the prices of commodities and services to rise. Business is booming. Yet such a boom, artificially engineered by monetary and credit expansion, cannot last forever. It must come to an end sooner or later. For paper money and bank deposits are not a proper substitute for nonexisting capital goods. Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too." What he failed to understand, that in capitalism -basically give or take after 1750 in the western world - complex production has to be pre-financed and EVERY boom leads to a credit expansion. The bigger the boom, the bigger the expansion. It is tragic, that he had deep insights into market economy mechanism, but not into capitalism. He was still dreaming of a treasure box full of gold in the cellar of a company that the company uses to build things. The biggest driving force of capitalism is...debt. Debt that has to be serviced with new debt. More debt.
- tiatia 10y ago
  Downvote but no reply. Wow. Arguments... :-)

Economics in One Lesson by Henry Hazlitt Human Action by Ludwig von Mises

by tmaly 10y ago

Economics in One Lesson by Henry Hazlitt Human Action by Ludwig von Mises

alejoriveralara 10y ago

Great suggestions! I second this.

chrismealy 10y ago

These books are just old reactionary propaganda. If that's your thing there's much better reactionary propaganda around.

loki49152 10y ago
"Reactionary propaganda" is code for "true".
dmfdmf 10y ago
What are you a communist? Talk about old. BTW, you should also read Hazlitt's "The Failure of the 'New Economics' ". Hazlitt shredded Keynes and doesn't pull any punches. Too bad nobody listened to him.
wyclif 10y ago
I wouldn't be so quick to dismiss these if I were you. One needn't be a free-market capitalist, FWIW, to get a lot out of Hazlitt's book in particular. It's very practical.

tiatia 10y ago

Ludwig von Mises. The master of market economics that never understood capitalism. "This country, and with it most of the Western world, is presently going through a period of inflation and credit expansion. As the quantity of money in circulation and deposits subject to check increases, there prevails a general tendency for the prices of commodities and services to rise. Business is booming. Yet such a boom, artificially engineered by monetary and credit expansion, cannot last forever. It must come to an end sooner or later. For paper money and bank deposits are not a proper substitute for nonexisting capital goods. Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too." What he failed to understand, that in capitalism -basically give or take after 1750 in the western world - complex production has to be pre-financed and EVERY boom leads to a credit expansion. The bigger the boom, the bigger the expansion. It is tragic, that he had deep insights into market economy mechanism, but not into capitalism. He was still dreaming of a treasure box full of gold in the cellar of a company that the company uses to build things. The biggest driving force of capitalism is...debt. Debt that has to be serviced with new debt. More debt.

tiatia 10y ago
Downvote but no reply. Wow. Arguments... :-)