Welfare Economics (by Jörg Guido Hülsmann) - Introduction to Austrian Economics, 10of11

[ndee13]

i saw him walking alone near carrefour angers st serge

[ndee13]

i saw him walking alone near carref

our angers st serge

[phroto13]

35:55 wowowowowow!!!

[trielementalist]

I find Welfare economics to be a joke. Economics shouldn't be dictating what's fair and unfair, as fairness and equality are determined by the cultural norms of your society. I find Welfare economics quite incompatible with conventional thinking.

[goPistons06]

i am only an enthusiast in economics, i only know basics and am self taught, and i think the austrian school always has great criticism of mainstream economics. it's a shame they aren't taken more seriously.

[CytherLynx]

@goPistons06 you should read 'economics in one lesson'. it is this single book that lead so many to become austrian economists in the first place. also very short and concise

[603881]

Jörg Guido Hülsmann is a master teacher. Always leaves you wanting to know more.

[603881]

@charronfamilyconnect

Hey, good hypothetical;

Most likely, it would greatly increase the price of gold and we'd seek some other standard because of it's impractical nature. Essentially, whatever's the most economic.

[603881]

@charronfamilyconnect

To be slightly more specific; at one point, we issued grain deposits (around 1860) denoting grain storage and supplies and they actually passed that around as money; there are other elements and standards. I've been with the Austrians for some time and as it turns out, most of them (especially the libertarians) are flexible with the freedom to choose what you think suits your assets best and the ability to create a currency based on whatever you feel necessary.