@jmjargon Another lecture that goes into this topic is 'Money And Prices (by Joseph T. Salerno)'. Maybe it's explained understandably for you in that one.
@Nielsio I just mean that in his scenario the price falls by 20%, yet apparently one would be willing to work 50% longer? And then he says that 2 oz of silver can buy 1.5 hours whereas it used to buy 2, when on the board it says it used to buy 1. I understand the concept but feel like his math doesn't work there.
The reason the price changes of labor versus tomatoes don't have to be of the same proportion is because tomatoes are just one good of many. Also, he is just one worker of many. Just because some are willing to work 50% longer for the same doesn't mean all goods will fall by 50%.
That would be my answer. If that's not satisfying you could ask in the Austrian economics Reddit (linked from my channel).
Byron Dale is asked how The Ludwig von Mises Institute is advocating a gold standard, and can we or can't we go to a gold standard. Mr. Dale lays down the hard facts.
Please check out ByronDalechannel Gold standard video called: Gold standard debunked - Interview with Byron Dale. I would invite opinions on this from intelligent people.
Here is an extreme question as I am not sold yet on 100% gold standard: What if the majority of the worlds gold is held by one person and all the gold of the world has been mined by the same person. What incentive do they have to lend out gold when they potentially risk losing it to defaulters? Can I get an intelligent practical(not theoretical)answer to this question? Thanks!
Here is an extreme question as I am not sold yet on 100% gold standard: What if the majority of the worlds gold is held by one person and all the gold of the world has been mined by the same person. What incentive do they have to lend out gold when they potentially risk losing it to defaulters? Can I get an intelligent practical(not theoretical)answer to this question? Thanks!
I just wonder how the stock market would work if deflation is the case. So if the MS is fixed, stock index should be flat in the long run and dividend should be flat in the long run as well. Only the companies that make up the index would change as more efficient ones replace less efficient ones. Am I correct?
@Myndir In nominal terms. And in real terms, each shares of successful companies should gain purchasing power even though the stock price does not rise. I think.
Everyone believes that deflation is bad, an example: at my workplace I said that we shouldn't expect high raises this year, or any. They looked at me like I was mad, and pointed out the income the company has got this year. I pointed out that the owners are expected to pay more taxes, we could use some savings and prices in general would go down as well, and they lost me. But when I śaid that cheap houses could be on they way, they were listening again.
Is it me or does he kind of not make sense around 28:30
jmjargon 5 months ago
@jmjargon Another lecture that goes into this topic is 'Money And Prices (by Joseph T. Salerno)'. Maybe it's explained understandably for you in that one.
Nielsio 5 months ago
Comment removed
jmjargon 4 months ago
@Nielsio I just mean that in his scenario the price falls by 20%, yet apparently one would be willing to work 50% longer? And then he says that 2 oz of silver can buy 1.5 hours whereas it used to buy 2, when on the board it says it used to buy 1. I understand the concept but feel like his math doesn't work there.
jmjargon 4 months ago
@jmjargon Yes, he meant "it used to buy only 1".
The reason the price changes of labor versus tomatoes don't have to be of the same proportion is because tomatoes are just one good of many. Also, he is just one worker of many. Just because some are willing to work 50% longer for the same doesn't mean all goods will fall by 50%.
That would be my answer. If that's not satisfying you could ask in the Austrian economics Reddit (linked from my channel).
Nielsio 2 months ago in playlist Introduction to Austrian Economics
@Nielsio thanks I get it better now
jmjargon 2 months ago
31 minutes is the gusto.
lilbromarky1 1 year ago
This has been flagged as spam show
TheByronDaleChannel | February 13, 2009
Byron Dale is asked how The Ludwig von Mises Institute is advocating a gold standard, and can we or can't we go to a gold standard. Mr. Dale lays down the hard facts.
Please check out ByronDalechannel Gold standard video called: Gold standard debunked - Interview with Byron Dale. I would invite opinions on this from intelligent people.
charronfamilyconnect 1 year ago
This has been flagged as spam show
Here is an extreme question as I am not sold yet on 100% gold standard: What if the majority of the worlds gold is held by one person and all the gold of the world has been mined by the same person. What incentive do they have to lend out gold when they potentially risk losing it to defaulters? Can I get an intelligent practical(not theoretical)answer to this question? Thanks!
charronfamilyconnect 1 day ago
charronfamilyconnect 1 year ago
This has been flagged as spam show
Here is an extreme question as I am not sold yet on 100% gold standard: What if the majority of the worlds gold is held by one person and all the gold of the world has been mined by the same person. What incentive do they have to lend out gold when they potentially risk losing it to defaulters? Can I get an intelligent practical(not theoretical)answer to this question? Thanks!
charronfamilyconnect 1 day ago
charronfamilyconnect 1 year ago
wow depressing ending!
thaiQ1985 1 year ago
I just wonder how the stock market would work if deflation is the case. So if the MS is fixed, stock index should be flat in the long run and dividend should be flat in the long run as well. Only the companies that make up the index would change as more efficient ones replace less efficient ones. Am I correct?
yjfoo81 1 year ago
@yjfoo81 Do you mean the stock index in nominal or real terms?
Myndir 9 months ago
@Myndir In nominal terms. And in real terms, each shares of successful companies should gain purchasing power even though the stock price does not rise. I think.
yjfoo23 9 months ago
@yjfoo23 can you explain to me what the difference between the ideas of "real terms" and "nominal terms"
phroto13 8 months ago
Hulsmann is so hardcore, he's got a money clip
Fucking smooth
KraljevicPavle 1 year ago 21
Everyone believes that deflation is bad, an example: at my workplace I said that we shouldn't expect high raises this year, or any. They looked at me like I was mad, and pointed out the income the company has got this year. I pointed out that the owners are expected to pay more taxes, we could use some savings and prices in general would go down as well, and they lost me. But when I śaid that cheap houses could be on they way, they were listening again.
broeman 1 year ago 2
@broeman
Sigh. Lost in translation, the poor saps.
xoxgodofgodsgodxx 1 year ago
These lectures are great, cheers nielsio!
Xerriva 1 year ago 9