EPTThe European Debt Crisis and the Euro - Page 6
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baal
10533 Posts
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Rothbardian
United States497 Posts
On March 02 2010 13:31 baal wrote: One question Rothbardian ... are you god? Over myself :p If you are talking about my reasoning and use of apodictic / Aristotelian logic, well, that is just self-evident of course! I really like Kant's Critique of Pure Reason. Kant/Aristotle > Hume. Rationalism and Logic > Empiricism. Hence, why I love the Socratic Method. Socrates was a beast. | ||
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koreasilver
9109 Posts
As Peter Schiff says, Austrian Economics is Economics, and Keynesians and Monetarists are the proverbial astrologers to the Austrians astronomy. lol, in a previous economics thread, someone else said pretty much the same thing except in reverse, with something like "Austrians don't live in reality". | ||
TanGeng
Sanya12364 Posts
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koreasilver
9109 Posts
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Rothbardian
United States497 Posts
On March 02 2010 14:14 koreasilver wrote: I dunno, at least the politicians don't claim to be scientists. So Science can only be empirical and Positivist, but logical axioms and Aristotlean logic is not science? Only knowledge can be gained from observation and not from self-evident a priorism? I consider myself a Social Scientist, specializing in Economics and Philosophy. | ||
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WWJDD
India342 Posts
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WWJDD
India342 Posts
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TanGeng
Sanya12364 Posts
There is also no science of philosophy. The Keynesians and Monetarists style themselves scientists. edit: I see there was no argument against politicians murdering people. That's what I like to see. | ||
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Rothbardian
United States497 Posts
On March 02 2010 14:41 WWJDD wrote: America has more debt than the Euro. The dollar will go before the Euro. The Dollar is the world's reserve currency, therefore, its my postulation that the Euro will go before the Dollar, and the Yen before the Euro. It is all, but enivitable though that all three currencies will die, like all fiat currencies do. | ||
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Rothbardian
United States497 Posts
On March 02 2010 14:43 TanGeng wrote: From what I heard, I don't think Austrians consider themselves scientists. It's more like social philosophers. There is also no science of philosophy. The Keynesians and Monetarists style themselves scientists. edit: I see there was no argument against politicians murdering people. That's what I like to see. http://www.lewrockwell.com/rothbard/rothbard135.html#2 Natural Law as Science - Murray Rothbard | ||
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koreasilver
9109 Posts
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TanGeng
Sanya12364 Posts
On March 02 2010 14:43 Rothbardian wrote: The Dollar is the world's reserve currency, therefore, its my postulation that the Euro will go before the Dollar, and the Yen before the Euro. It is all, but enivitable though that all three currencies will die, like all fiat currencies do. Nah no way to make a prediction of order based on just that. Euro is more likely to fail because key countries of the EU abandoning it. The Yen is kind of strange because of the strong savings of the Japanese. Japanese government is more likely to fail to deliver on its promised social programs like health care (inverted population distribution) than the Yen fail. That's a while in future. US dollar is most likely to inflate because of debt monetization. As far as I can tell, Austrians have no equations to describe macro. Keynesians have their short run equations. Monetarists have another set of short run equations. Short run equations start becoming obsolete the moment they are published due to built in expectation of the marketplace. There is a good reason why economic equations fail to predict the economy, and one of the reasons is one of the schools doesn't have any. You're not very informed, koreasilver. | ||
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SoLaR[i.C]
United States2969 Posts
(1) How old are you and in what setting did you learn so much about this particular aspect of economics? (2) Can you point me in the direction of a very "broad," yet interesting book regarding Austrian Economics? Maybe something written about its historical basis as well as it main points? | ||
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Incognito
United States2071 Posts
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TanGeng
Sanya12364 Posts
On March 02 2010 15:10 Incognito wrote: I thought Austrian Economics was based on the principle that you can't test economic theory because you can't isolate people without changing their actions...I thought the theories were mainly based on logic rather than experimentation. I would be inclined to agree with you. That's the reason they fall under philosophy rather than science. No experimentation possible only case studies and logic. Speaking of which there are a lot of other sciences that don't deserve to be called science - all of the social sciences pretty much. | ||
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koreasilver
9109 Posts
On March 02 2010 14:49 TanGeng wrote: Nah no way to make a prediction of order based on just that. Euro is more likely to fail because key countries of the EU abandoning it. The Yen is kind of strange because of the strong savings of the Japanese. Japanese government is more likely to fail to deliver on its promised social programs like health care (inverted population distribution) than the Yen fail. That's a while in future. US dollar is most likely to inflate because of debt monetization. As far as I can tell, Austrians have no equations to describe macro. Keynesians have their short run equations. Monetarists have another set of short run equations. Short run equations start becoming obsolete the moment they are published due to built in expectation of the marketplace. There is a good reason why economic equations fail to predict the economy, and one of the reasons is one of the schools doesn't have any. You're not very informed, koreasilver. The Austrians don't have any mathematics, but their assertions and theories that are standardized beliefs throughout the school pretty much are models. They have their own rhetoric on how they think the economy works. | ||
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Rothbardian
United States497 Posts
On March 02 2010 15:00 SoLaR[i.C] wrote: Rothbardian, I'm a big fan of your posts in threads like these. A few quick questions: (1) How old are you and in what setting did you learn so much about this particular aspect of economics? (2) Can you point me in the direction of a very "broad," yet interesting book regarding Austrian Economics? Maybe something written about its historical basis as well as it main points? 1) I'm 23, and I mostly learned about Austrianism through my own self-education. I have slowly built my library encompassing works in Philosophy, Economics, and History. I also have more libertarian Fiction too, like Heinlein, L. Neil Smith, Twain, Mencken, Robert Anton Wilson, J. Schulman, etc. I go to college for BS in Economic/Philosophy and minor in Finance, but generally, I learn way more on my own. Books constitute capital. A library book lasts as long as a house, for hundreds of years. It is not, then, an article of mere consumption but fairly of capital, and often in the case of professional men, setting out in life, it is their only capital. —Thomas Jefferson 2) Joseph Salerno has a great introduction to Austrian Economics as do FEE. Let me find them for you: http://www.kickasstorrents.com/introduction-to-austrian-economics-t3599236.html -- J. Salerno & http://fee.org/library/?s=1&au=Israel Kirzner&ser=&key= http://fee.org/library/?s=1&au=&ser=Intro to Austrian Economics&key= As for general purposes: mises.org fee.org http://praxeology.net/molinari.htm You are your own best teacher :p | ||
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Rothbardian
United States497 Posts
On March 02 2010 15:10 Incognito wrote: I thought Austrian Economics was based on the principle that you can't test economic theory because you can't isolate people without changing their actions...I thought the theories were mainly based on logic rather than experimentation. Yes, logic however, is a science. I swear I had a great piece by Murray on this, but can't find it. I think it might have been one of his lectures, I'm not sure. Here are a few pieces: http://mises.org/rothbard/mantle.asp Science, after all, means scientia, correct knowledge; it is older and wiser than the positivist-pragmatist attempt to monopolize the term. http://mises.org/rothbard/praxeology.pdf Praxeology is the distinctive methodology of the Austrian school. The term was first applied to the Austrian method by Ludwig von Mises, who was not only the major architect and elaborator of this methodology but also the economist who most fully and successfully applied it to the construction of economic theory. 1 While the praxeological method is, to say the least, out of fashion in contemporary economics as well as in social science generally and in the philosophy of science it was the basic method of the earlier Austrian school and also of a considerable segment of the older classical school, in particular of J.B. Say and Nassau W. Senior. 2 | ||
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ShaperofDreams
Canada2492 Posts
If not please PM me with some basic stuff, I just started reading squashed philosophers, up to socrates talk about justice and the "perfect" society. | ||
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