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If you want to take the red pill: Please read F.A Hayek's critique of "The Paradox of Savings" (http://mises.org/daily/2804 http://mises.org/daily/2804) for a r
by narrator 14y ago
If you want to take the red pill: Please read F.A Hayek's critique of "The Paradox of Savings" (http://mises.org/daily/2804 http://mises.org/daily/2804) for a refutation of inflationist monetary policy. This was an essay he wrote during the debate with Keynes and others, explaining the flaws in the Keynesian theories. It was written in the 1930s , but explains better than any other theory the dynamics of a fixed money supply currency like bitcoin vs a constantly inflating money supply.
- Evbn 14y agoToo many nested critiques of refutations of theories for a novice to make sense of that article.
- narrator 14y agoIt's hard to do a TL;DR on this. Here's a link to a meta reddit post I made of all my debates with traditionally trained economists :(http://www.reddit.com/r/austrian_economics/comments/kufu2/can_you_guys_help_me_with_the_keynesian_deflation/ http://www.reddit.com/r/austrian_economics/comments/kufu2/ca...). It should be somewhat easier to understand.