Praxeology - Episode 17 - Catallactics

[muiroford1]

MILF's good for the economy.

[caisamadrid]

Good work. Keep it up. By the way you have Professor Huerta de Soto at universidad Rey Juan Carlos in Madrid but also Philip Bagus... another Austrian Economist. The economy is awful here in spain. To be honest these two economists are virtually unheard of here despite their positions at the university. a terrible shame as Spain is still reeling under a semi socialist, corporate corrupt state that uses Keynsian anti logic as its justification to a public who only ever think about football.

[josemanuelgonzalezg]

@praxgirl There is a Master in Austrian Economics in Universidad Rey Juan Carlos in Madrid by Professor Huerta de Soto. You can google "MÁSTER OFICIAL EN ECONOMÍA DE LA ESCUELA AUSTRIACA" for further information.

[Warzoooooo]

@praxgirl Praxeology seem to be a key component of the Austrian economic model. To refer to your videos makes it much more easy to explain the way of thinking, when trying to figure out how the market probably will react to government interventions. You are great, keep up the good work!

[BatDude27]

their is no next lesson!!!!!!!!!!

[ohedd]

This woman makes you love capitalism.

[booyabooyaboom]

This series of videos is awesome. It really should be required viewing for every economics student.

[BringIt2TheMax]

Shockingly amazing video... Prax Girl, do you have a degree in Econ, and if so did it focus on Austrian Econ? I will graduate in March with my Bachelors in Econ, and am looking for a good masters program. I'd like to specialize in Austrian econ...

Any suggestions?

[JesseForgione]

@BringIt2TheMax

There are a lot of great resources at Mises (dot) org. You can read (or listen to) tons of books (including Human Action). They also have lots of great articles.

[BringIt2TheMax]

@JesseForgione Thanks, I've been a member of Mises for quite a while and actually I just visited the Mises Institute today down in Auburn, AL... Absolutely wonderful facilities, and great people... I got to tour the facility and talk with them about good masters programs that would have an Austrian tilt...

[ElliottTPieper]

yesssssssss finally CATALLACTICS !!!!!!!!!

[RKAddict101]

Hey, I just read this in MES!

[PopilOctavian]

I'm gonna go on a limb here and assume you are just a pretty front for this scheme. I'm not sure yet what you guys are after, but it's highly probable that you have absolutely no idea what you're talking about, just read what's on the prompter in front of you, like the tv news bimbos. craaa-zeee! maybe not... :D

[PopilOctavian]

You know what, praxigirl, if you could speak free, like you mean it, instead of just reading your breath away in every video, it wouldn't sound so linear and boring.

[KagarBeardtooth]

Evenly rotating economy

[wacabby]

caddilacs .

[FlightSimulatorXATC]

This one actually made some sense to me. Probably due to it's shorter length. Great job on this one!

[makzmakz]

I find myself loosing focus. I guess this was a boring episode.

[Lightrider4444]

Logic and mathematics are ideas extracted and abstracted from physical reality. That is why they are useful. Monetary value is injected into the minds of the vulnerable, causing the enormous problems facing our species. All of the economic theory in the universe will not solve the technical problems that we must overcome to survive. It will likely cause our demise if we do not recognize its true nature.

[savvysymbiont]

What are the consequences of the intervention of the strategic oil reserve in the world oil market?  Aside from the facade that is it there to provide oil in case of a shortage, does catallactics explain or avoid the reasons associated with sequestering natural resources in order to manipulate the market and gain a future advantage in pricing that leads to higher profits. Please enlighten us on how praxeology would explain this market phenomena praxgirl...or anyone else. cheers!

[aaronjgardner]

@savvysymbiont your question is unclear. The Strategic Petroleum Reserve is a statist scheme. In what way could anything to do with it be considered a "market phenomena"?

[cbl2988]

Ah... you have done it again. Great episode.

[god0fgod]

Great videos. I hope Menger the cat is doing alright. :-)

[TheJohnVandivier]

"Any theory that attempts...Is unrealistic."

How Praxgirl destroyed mainline economics lol =)

[tonedcos]

@fagan411. Back of the cue pal. : )

[JaceJohanson]

@tonedcos No joke!

[Lightrider4444]

Comparing economics to something based in reality, like biology, is emblematic of the problem we're facing. Economics is about fantasy. It is a game used to trick the majority of people out of the resources that they need to survive and transfer that real wealth to the few who perpetrate the invalid rules of the game, while maintaining a monopoly on the use of force. Describing a world where there is private property but no violence is akin to describing heaven. Stop lying to these people please

[JaceJohanson]

@Lightrider4444 I take it you're unaware that in order to use biology or any other science you cannot dispense with math or logic, yet these are no more "real" than praxeology. You understand nothing of economics if you equate it with politics. Don't bitch about a monopoly on force if you're going to attack a thought model that demonstrates how unnecessary force ever is, you twit. If you don't wish to strive for a more heavenly experience on earth, who are you to claim "liar?"

[032125]

@Lightrider4444 I can't help but notice that you are some kind of spokesman the Zeitgeist Movement, which as far as I can discern is a kind of (theoretically) apolitical movement for soft (well, maybe not so soft) Marxists who like to think of themselves as being above the fray of politics. One can see why this video would befuddle you.

So long as your socialism is based on free exchange within voluntary communities, have at it man.

[XulChris]

I just got done watching Private Property by Mises[1] where he uses the term "catallactic". I was meaning to look up its meaning, but now I don't have to.

Thanks praxgirl.

[1] /watch?v=ZuCAoyYV0nA

[joepeeler34]

I remember discovering Ludwig von Mises's book 'Human Action' about 12-years ago. In the first two-hundred pages catallactics is explained. I almost put the book down.

For those of you who are knew to Austrians, don't start with Mises's 'Human Action'. Your brain will bleed trying to understand. It's far better to start that book after some remedial or intermediate level books.

[drootshnoot]

@joepeeler34 do you have any suggestions?

[joepeeler34]

@drootshnoot Yes, start with some books by Peter Schiff, Tom Woods, and Henry Hazlitt. Rothbard's book "The Case Against the Fed" is also easily accessible.

I would not start with books by Menger, Mises, Hayek (though Road to Serfdom is for beginnners), Bohm Bawerk, Sennholz. They all assume a certain amount of knowledge in their presentations.

The best book to start with is Hazlitt's "Economics in One Lesson."

[drootshnoot]

@joepeeler34 Thanks, I have already read "How An Economy Grows and Why It Crashes". Loved it. I'll look up Hazlitts book, and somsone also suggested "Lessons for the Young Economist". I own one of Menegr's books but haven't cracked it yet. I'll wait. Currently reading Ethics or Liberty - I like philosophy more than numbers but want to be well informed

[fagan411]

Marry me. I'm good looking. 

[Lightrider4444]

Instead of daydreaming about the economic fantasyland that makes your ideas viable, why not try to solve the real world problems that we can solve and make the world a better place for all people. We can provide for the basic needs of all people, create access abundance and have a society worthy of the name when we do away with the invalid ideologies of economists and politicians long since dead and buried. Holding on to such ancient religions in the face of rapid advancement is deadly and wrong

[032125]

@Lightrider4444 Your position is roughly analogous to saying "We don't need to understand the science of biology, let's just go out and cure cancer! Get 'er done!"

This is how atrocious preactices like leechcraft and Keyensian ecomonics come into being. Understand first; then do.

[JaceJohanson]

@032125 Thank you. I was going to say the same thing.

[prashantpawar]

@Lightrider4444 You have commented on pretty much every video Praxgirl uploaded, but with this comment one thing is clear, you don't even watch these videos. You just click through them. You saw a slide "Imaginary construction", then maybe heard a few lines here and there, and then you started attacking Praxeology.

[drootshnoot]

@Lightrider4444 yeah using your method landed the world to where we are now - the edge of economic collapse.

[ftwbk]

i fully subscribed to keynes and was a krugman fanboy until i came across praxgirl.

[liknital07]

Is it wrong to jack it while learning about economics?

[tonygmilan7]

marry me?

[cankorgbr]

I love you.