that IS success, how they define it. Real wages falling, productivity rising, profits increasing.Really? The average middle class American has seen their real income fall since then.
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that IS success, how they define it. Real wages falling, productivity rising, profits increasing.Really? The average middle class American has seen their real income fall since then.
Ohhh wait, you're one of those people that think America's economic policy of the recent years is somehow what the Austrian school agrees with and supports, which is of course completely false.
Well, at least now I know not to argue with you because you don't know what you're talking about.
Really? The average middle class American has seen their real income fall since then.
Its certainly been driven by acolytes of that economic perversion.
Depends which time frame you use. ie wages rose under Reagan
Not only that but you have to take in to account the fall in unemployment ie there is a trade off between wages and employment.
The current UK situation is a good example ie unemployment has fallen far less than expected due to wage cuts in the private sector.
Its certainly been driven by acolytes of that economic perversion.
Unemployment has fallen? Above ten per cent in the US now.
The last 30 years have seen an enormous transfer of wealth from the middle classes to the very rich, all orchestrated by a class of people (I use the term VERY loosely) all acolytes of the Austrians.
As Greg Palast has very carefully noted, the nice public writings and theory differs very greatly to what they put into practise
Ron Paul was calling for a massive crisis to occur way back in 1983.
Same with the Austrian School - the intellectual placenta of vampire capitalism.
Yes I can.
Its the intellectual inspiration for the scum who have ****ed our world.
As I said earlier, Marx most likely didn't envisage Stalin's Great Terror, but that's what those who followed his ideas ended up putting in place.
Same with the Austrian School - the intellectual placenta of vampire capitalism.
Calling a 'depression' in 1986 and having that 'day of reckoning' postponed to 2008 seems an awful lot of good work achieved by the Keynesians (or whatever they were).
But Austrians always argue that the business cycle can't be defeated (and that recessions are a good thing).2008? There was a crash in 87. Fed drastically lowered rates which then led to the early 90s recession.
Fed reacted to a similar way to the Dotcom bust, sowing seeds of later crash.
One stuff up after another.
Now resorted to zero rates and printing of money
That does not sound like the definition of good work to me.
But Austrians always argue that the business cycle can't be defeated (and that recessions are a good thing).
Please go and research what the Austrian School actually is or just stop talking. Your ignorance is showing.
That in no way means the govt should make things even worse by interfering.
.
Way to miss the point.
Yes, innocent people's lives must be ruined by unemployment and poverty to maintain the intellectual purity of the theory.
You see now why I compare you lot to the Communists and Maoists?
This is utter nonsense. You have been hanging around SNP types too long.
You just said government must not intervene in recessions. Creative destruction I believe the vampires called it.
That destruction is people's lives.
According to the THEORY, we'll come out better on the other side.
And **** those who got crushed - usually innocently - in between.
That's why its a vile theory.
The reference to marxism etc is the continuecd insistence by your lot that ALL must be sacrificed, no matter how great the suffering, to maintain the purity of theory.
The Great Famine in Ukraine was creative destruction to prove the purity of the collectivist theory, and screw the millions who starved.
Your lot would do the same with a vaguely capitalist spin.