Economics 102 - Keynes v Friedman

Free Market regulates itself? Haha, that's funny!

Please make a cogent argument without sarcasm.

Okay, it is a near religious assumption to have "faith" that the Free Market will somehow regulate itself.

No corporations will monopolize. No businesses or franchises will conglomerate. No companies will carry out Attrition Warfare to starve the competition.

My arguement is that it is absolutely absurd to make the above listed assumptions. Anarcho-Capitalism is unteniable. I mean, what about the regulations like the FDA? Do Austrians want to remove those "regulations" as well?

Thank you for your comment.

I thought it was pretty common history that WWII pulled America out of the Depression. I guess some people don't pay attention during Junior Year....

Some folks did not do well in reading comprehension in the 4th grade. Please reread my comment just above yours.

I was replying to the guy above you.

so you speak of fiscal policy---what are your thoughts w/re to monitary policy/way?

Please view my video, as it covrs both fiscal and monetary policy.

Part II:

Are you referring to Milton Friedman in your second question? If so, I do not know of any attempt by Friedman to "apply economics to social policy."

Wars are a form of Keynesian economics because any increase in government spending (including war) will prime the economic pump. Many economists have made this point.

Stagflation was not caused by Keynesian economics. Rather it was caused by the failure to follow Keynes' model.

Lastly, try not to be so angry.

All the Best / Mike Hogan