You are viewing a single comment's thread. View all
1
DieHeretic on scored.co
7 hours ago1 point(+0/-0/+1Score on mirror)1 child
Once you understand that all of what has been written about economic theory and economic systems are constructs that exist only partially in the real world, all have at least some value and all have major drawbacks, and knowing human nature you must decide which one creates the most benefit to harm ratio and implement that system until a better one comes about.
> Once you understand that all of what has been written about economic theory and economic systems are constructs that exist only partially in the real world
The old Austrian School of Economics, which used to be just called "economics" before social liberalism got hold of economics (they had to separate Austrian School from everything else)--Austrian School of economics sought to discover phenomenon in nature about economics just like the old scientists discovered the principles of physics or mathematics. They could observe phenomenon in nature surrounding the activities of humans and sought to describe it. Economics is a phenomenon that occurs in nature, in the real world. Entirely, not partially. It's not a theory that increasing the money supply causes inflation and devalues the currency. That's a fact. It was proven. Austrian School of Economics came about because of Marx, because the old Austrian school wrote vast tomes of scientific literature tearing apart Marx and Engels. Eugen von Böhm-Bawerk wrote "Capital and Interest" one of the most important economics books ever written (but you never hear about it, you only hear about Wealth of Nations) largely to tear Marx a new asshole and point out how full of shit Marx is. Funny how you never hear about this book that's so critical of Marx, yet all economics after it is built on it because it was the equivalent of like how blues was the origin or rock n roll, and now there's heavy metal. It's like uh Newton to Pinrose or someshit.
The old Austrian School of Economics, which used to be just called "economics" before social liberalism got hold of economics (they had to separate Austrian School from everything else)--Austrian School of economics sought to discover phenomenon in nature about economics just like the old scientists discovered the principles of physics or mathematics. They could observe phenomenon in nature surrounding the activities of humans and sought to describe it. Economics is a phenomenon that occurs in nature, in the real world. Entirely, not partially. It's not a theory that increasing the money supply causes inflation and devalues the currency. That's a fact. It was proven. Austrian School of Economics came about because of Marx, because the old Austrian school wrote vast tomes of scientific literature tearing apart Marx and Engels. Eugen von Böhm-Bawerk wrote "Capital and Interest" one of the most important economics books ever written (but you never hear about it, you only hear about Wealth of Nations) largely to tear Marx a new asshole and point out how full of shit Marx is. Funny how you never hear about this book that's so critical of Marx, yet all economics after it is built on it because it was the equivalent of like how blues was the origin or rock n roll, and now there's heavy metal. It's like uh Newton to Pinrose or someshit.