Socialist Theory of Interest Crushed by Boehm-Bawerk!

Eugen von Böhm-Bawerk (Born February 12, 1851; Died 1914) was in the right place at the right time to contribute importantly to the development of Austrian economics. Studying at the University of Vienna, he was twenty years old when Carl Menger's Principles of Economics appeared in print in 1871. His formal university training was in law (and thus he was not actually a student of Menger's), but after completing his doctorate in law in 1875, he began preparing himself both at home and abroad to teach economics in his native Austria.

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• Anarcho-capitalism
• Austrian
• Economics

[jinkies82]

This is genius. I can't believe no one thought of it before. you should be on TV or they should create a game about you for the Xbox - it could be called "Kurt Saves The World with his regurgitated old theories that he read on some dumb ass site he visited in between looking at some porn and searching for his favorite moment from the Glenn Beck Show" or maybe something a little snappier than that.

[kurt44mg42]

Once again, you offer no constructive, analytical criticism about the contents of the video and instead display an unsurprising ignorance of economic theory by your disparaging and insulting comments. I suppose being an Obama worshipper you really can't help it, can you?

[Nintendomanwill]

By dull intellect we can ignore Marx's inconsistencies but it's still clearly wrong-take Marx's inconsistency in making a dialectical theory about the monopolisation of capital to steal labour value from growing numbers of expropriated labourers whose suffering is parallel to the wealth of the expropriating class, when another integral facet of his theory are the Material Productive Forces that expand the number of EXPROPRIATORS! Undervalued labour attracts investment. PEOPLE not classes compete

[032125]

@jinkies82 Yes, please spare us the knee-jerk left/right false dichotomy, and the trite ad hominems. Either refute the argument or go home.

[Nintendomanwill]

Marxist theories of exploitation are obviously stupid when we can see how the proceeds of capital come to capitalists by the utility of that which they have saved & purchased. We can see empirically that private property & its facilitation of exchange is *existentially necessary* for civilisation & that capital investment needs remuneration. We can see deductively from a priori principles why a 'class' can't profit by homogeneously levying capital monopoly against labourers to expropriate them.

[chokin2]

well done again Kurt