Value, Utility and Price (by Jörg Guido Hülsmann) - Introduction to Austrian Economics, 2of11

[gergenheimer]

Mr Dale's criticisms don't hold up. 1. He says Misesians only blame govt - no, but govt. gives legal sanction to fraudulent fractional reserve banking. 2. Not enough gold for a gold standard - Austrians have shown this to be false - any amount of gold can form the monetary base - there is no "correct" amount. 3. Dale says money creation is only harmful when it is debt-based - incorrect. Any money creation out of thin air results in a net wealth transfer to the first receivers of the new money.

[zg76]

@charronfamilyconnect In my opinion: firstly this is practically and theoretically impossible in free market economy. But let us take it for arguments sake. I presume people would be using silver, and/or platinum, and/or quetzal feathers and and... it's rather simplistic answer, hopefully you get my point. Second question has been addressed by gergenheimer

[phroto13]

@zg76 quetzal feathers? are you guatemalan?

[zg76]

@phroto13 No Bosnia. We use feathers still here :)))

[TheGodofAtheists]

Is there any way to download this video series. (not just mp3 but visual) -thanks

[jackolavin]

One of the best economics lectures I have ever seen. A great tactic to develop the Austrian School by showing the parallel theory as explained by the other schools.

[sinister60804]

Water is the next big commodity just give it a few years... corporations and government will make it a high commodity.

[NicosMind]

@sinister60804

Well theres a lot of water shortages happening in many parts of the world. And the amount of water it takes to make steel, pump oil etc is shocking

[selfrealizedexile]

@NicosMind

I hear there's these two giant bodies of water on both sides of the US. Surely the free market won't contain any vast number of entrepreneurs in the desalination industry. Surely not.

[selfrealizedexile]

@NicosMind

Study economic history; you'll always find doom and gloomers forecasting massive shortages, making claims that fly in the face of the economization of resources via prices and, thereby, funding of ingenious increases in efficiency. There was a time when people were scared of wheat shortages; we're still today trying to deal with the wheat surpluses created by gov't subsidies.

[NicosMind]

@selfrealizedexile

Oh yeah ive heard of that. It was in the days of Adam Smith wasnt it?? And when i say ive heard i mean people like Jim Rogers and Marc Faber mention it, and that ive never read about it.

But when it comes to the water shortages ive heard Jim Rogers mention it several times and read reports from Wesis Research.I think this time round that theyre quite real. California, India, Pakistan and China ive heards bad. Of course the best solution ive very often the market solution.