Keynesian Economics vs. Austrian Economics

http://austrianomics.com/

Keynesian Economics vs. Austrian Economics

Featuring Ben Bernanke, Paul Krugman, Peter Schiff, and Ron Paul

Also check out http://www.youtube.com/watch?v=v4LiIW...

• Category

  Education

[Ioannisthegreat7]

"The only good thing about Marx is he wasn't a Keynesian" 

[Serban V.C. Enache]

Governments are not households. The constraints of government are free labor (people who want to work and are able to work) and unused resources. The constraints are not financial. The monetary system is nothing more than a spread sheet of pluses and minuses, of surpluses and deficits, of assets and liabilities. I recommend: Warren Mosler, Bill Mitchell, Randall Wray, Stephanie Kelton, Yanis Varoufakis, John T. Harvey, Dean Baker, James Kenneth Galbraith. (Audi Alteram Partem) ^^

[dark1in2finity]

who are some of the people schiff debates? most i don't know, because i'm from europe so i don't know most of these american mediafigures. personally i favor austrian economics.

[trygvb]

The monetary system is much more than that lol

[barthook]

How many of these clowns went back and apologized to Peter?

[00Towelie]

Printing money + living on a debt = Prosperity. Maynard that's genius!

[joe035]

If America had an involved & educated voting population Ron Paul would be President!

[Ken Smith]

Check out the errors in Carmen Reinhart and Kenneth Rogoff's spreadsheet. Notice how all of the errors work to make it appear that Austrian Economics works and how once the mistakes are removed, their data doesn't really support the idea. The fact that the errors are all the same direction and a lot of people took it on face value suggests to me at least that it was simply a case of people only accepting things that support their biases. We need fact based policies.

[mikebri527]

OK. Glad you said that. For the most part I agree with you except for the "borrow to finance its debt". If that's not the case, then how do they do it?

[mikebri527]

OK. Fair enough. I've never heard of these people but I'll take you at your word and trust that you're telling me the truth. So tell me, is the Federal Reserve monetary policy and Congressional legislation at all responsible for the recession?

[ymkamara420]

Steve keen would be proud

[ymkamara420]

"never saw the 2007-2008 recession coming (as did most Keynesians). It was the Austrians, like Peter Schiff, Ron Paul, etc. that saw it coming" List of Keynesians that saw it coming dean Baker, Wynne Godley, Michael Hudson,Steve Keen, Sorenson. Fuck it here are two Marxists that saw it coming Nick Beams and César Uco. I guess the marxist theory is right because they saw the housing crises coming. (your logic)