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Why is this being downvoted? I can see discussion growing out of this comment, and that's a good reason to not downvote.

by kovek 7y ago

freejulian85 7y ago
People who support pro inflation monetary policy think they know more than those of us who still value the Austrian school of economics. They treat Keynes as settled fact.
- icebraining 7y ago
  Or maybe the Austrian economics fans are downvoting you for your suggestion of labor protectionist policies.
- eru 7y ago
  Oh, if you want to go that route, you shouldn't just rail against inflation. You should demand proper deflation. See https://mises.org/library/less-zero-case-falling-price-level-growing-economy-0 https://mises.org/library/less-zero-case-falling-price-level... You seem to hold a very curious combination of opinions? In favour of globally regulating labour markets (and threatening trade restrictions to enforce that), but also in favour of Austrian economics?
- QuesnayJr 7y ago
  It pretty much is settled fact. There were some hold-outs, but we recreated the conditions of the Great Depression, and then we had a crash as large as the Great Depression. Countries pursued more or less Keynesian policies in response, and the countries that pursued the most Keynesian policies recovered the fastest. It's as close to an experimental test of Keynesianism as we're ever likely to see, and it came out in favor of Keynesianism.
mlthoughts2018 7y ago
Upvotes & downvotes here utterly mean nothing and often are mean-spirited and/or impulsive. As a result, people become increasingly entrenched in using votes to promote certain ideologies or norms and attempt to hide or obscure competing or contrary views, often without even thinking, just party politics applied to every distinct idea spectrum.
nabla9 7y ago
Because it's standard inflation drivel. It's almost word to word the standard spiel that your old cranky uncle writes in their FB page. You can see the same logic with almost sentence to sentence several times a day in reddit discussions. Incidentally both left and right ideologues use the same reasoning. It attributes too much blame for the monetary system, never attempting to quantize how much the alleged harm is caused by monetary system. If you dwell even little deeper you discover that it's not even wrong. https://en.wikipedia.org/wiki/Not_even_wrong https://en.wikipedia.org/wiki/Not_even_wrong
- wrnr 7y ago
  The original article can be described as "standard spiel that your old cranky uncle writes in their FB page"?

Why is this being downvoted? I can see discussion growing out of this comment, and that's a good reason to not downvote.

by kovek 7y ago

Why is this being downvoted? I can see discussion growing out of this comment, and that's a good reason to not downvote.

freejulian85 7y ago

People who support pro inflation monetary policy think they know more than those of us who still value the Austrian school of economics. They treat Keynes as settled fact.

icebraining 7y ago
Or maybe the Austrian economics fans are downvoting you for your suggestion of labor protectionist policies.
eru 7y ago
Oh, if you want to go that route, you shouldn't just rail against inflation. You should demand proper deflation. See https://mises.org/library/less-zero-case-falling-price-level-growing-economy-0 https://mises.org/library/less-zero-case-falling-price-level... You seem to hold a very curious combination of opinions? In favour of globally regulating labour markets (and threatening trade restrictions to enforce that), but also in favour of Austrian economics?
QuesnayJr 7y ago
It pretty much is settled fact. There were some hold-outs, but we recreated the conditions of the Great Depression, and then we had a crash as large as the Great Depression. Countries pursued more or less Keynesian policies in response, and the countries that pursued the most Keynesian policies recovered the fastest. It's as close to an experimental test of Keynesianism as we're ever likely to see, and it came out in favor of Keynesianism.

mlthoughts2018 7y ago

Upvotes & downvotes here utterly mean nothing and often are mean-spirited and/or impulsive. As a result, people become increasingly entrenched in using votes to promote certain ideologies or norms and attempt to hide or obscure competing or contrary views, often without even thinking, just party politics applied to every distinct idea spectrum.

nabla9 7y ago

Because it's standard inflation drivel. It's almost word to word the standard spiel that your old cranky uncle writes in their FB page. You can see the same logic with almost sentence to sentence several times a day in reddit discussions. Incidentally both left and right ideologues use the same reasoning. It attributes too much blame for the monetary system, never attempting to quantize how much the alleged harm is caused by monetary system. If you dwell even little deeper you discover that it's not even wrong. https://en.wikipedia.org/wiki/Not_even_wrong https://en.wikipedia.org/wiki/Not_even_wrong

wrnr 7y ago
The original article can be described as "standard spiel that your old cranky uncle writes in their FB page"?