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| quote: | Originally posted by occrider
I'm always up for a healthy debate although to be honest I don't even know what we're debating. The monetary exchange equation? The gold standard? Keynesian economics? The Austrian School? I'm quite familiar with the Austrian school btw and it might surprise you that I generally adopt a laissez faire mentality about most issues. However I am a monetarist so I'm obviously an advocate of monetary policy management and 99 times out of 100 I find fiscal policies to be too ineffective due to recognition lag, decision lag, implementation lag, and impact lag to be a viable tool for national economics management, so that hardly makes me a Keynesian.
That being said, that one time in a hundred markets behave too irrationally to function in such a way to maximize pareto efficiency, keynesian fiscal policy is required ... sort of similar as to how the standard model in physics works beautifully in all situations except when you get down to the quantum level. It's something I would think Austrian School economists would find appealing considering their viewpoints on Praxeology. At any rate I would classify those situations as market externalities and I could be wrong but I don't even think that Austrian SChool economists doubt that market externalities exist that require government intervention.
In other words, no I don't want a formal discussion or debate about grand ideology. We can talk about specific issues as they arise as opposed to having a keynes, friedman, mises battle royale to settle the issue of economics once and for all. It would seem like an enjoyable challenge but frankly I don't have time for that. |
The debate took many twists and turns, that's for sure. I was hoping you would want to talk about some things on a one on one basis, just for that reason. Helps keep the discussion on just a couple of topics. But I understand if you don't have the time.
When it comes to externalities and the Austrian position, I'm not exactly sure where it stands. I'm not so much concerned with that though, other then doing the research and then taking a position on it myself after I feel like I have enough grasp on the idea. This wouldn't be the first time it has popped up in an economic discussion I have participated in so maybe it will be something I spend some more time on in the future.
I'm sure we will cross paths again here so I look forward to some more thought provoking discussions and maybe we'll be able to settle into something where we spend less time criticizing and instead learn a thing or two from some of the different positions that we hold on these topics.
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