Ron Paul and the Austrian Theory of the Business Cycle

Austrian School of Economics:
Menger,
Mises,
Hayek,
Rothbard.

clips from:
federal reserve hearing with chairman bernanke,
alex jones radio interview,
republican debate 2008,
glenn beck tv interview.

Category:

News & Politics

Tags:

• inflation
• recession

[AFRIKTODAY]

I disagree, Ludwig Von mises was the intellectual father of Hayek as far back as Austria!

[AmericanValues321]

Have to admit..I am also a convert..LET THE BELLS OF LIBERTY BE SILENT NO MORE

[riverlioness]

@bellcord

The Austrian Business Cycle Theory regards the misallocation of resources. The ABCT forewarns grandma that she is going to choke on high interest mortgage payments, in advance. How is that punishment?

This is the reason history is an important understanding in the science of human action. Civilization existed before Fannie Mae.

[RKAddict101]

@bellcord I disagree, the system has developed not because of the government system, but despite it. My belief is that without the government, the system would be even better off. I am sorry for your situation, but I dearly hope you manage to enjoy the remainder of your life.

[bellcord]

@RKAddict101 Thank you for reply RK.Allow my personal account to reply..I am typing this from the VA Hospital in OKC.where my right lung should be is a rapidly growing cancer which will kill me within a few weeks if not days.that's not the point,..You have been convinced that Government can do only harm despite the evidence of your education, our laws,health care ..our very civilization...is built on a system of Government to build a better society..

[RKAddict101]

@bellcord No, if Grandma's choking on her own blood, a socialist medical system will not be able to support her. It's not about ethics, it's about facts. The more government gets involved in any part of the economy, the higher prices go up in that part of the economy. Capitalism will save grandma. You think government can legalize morality? It can't. Individuals who work at hospitals will save grandma because they want to, not because they have to.

[CentRLeft]

end the fed!

[dsvet]

@killlalaland If he won't recommend some books then I will. Meltdown by Tom Woods and Economics in One Lesson by Henry Hazlitt which you can Google and find for free in pdf format.

[bellcord]

The Austrian theory is pretty much the 'Old West idea of economics.."It's a free for all and the Devil take the hindmost"...No regulation, no enforcement, no nets for the loser's..If Grandma's choking on her own blood it's morally wrong to help her..She obviously made 'wrong choices' and needs to be punished..If your airliner crashes? Well, won't be flying them again..Your Bank failed with all your money? Tough, you made a bad choice in banks etc...A little hard to substain civilization though