Keynesian Economics: The Beast That Won't Die | Peter G. Klein

Presented by Peter G. Klein at "Will the Decline Continue?," the Mises Circle in Seattle; sponsored by James M. Wolfe, and hosted by the Ludwig von Mises Institute. Includes an introduction by Douglas E. French. Recorded Saturday, 12 September 2009.

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[Sivels]

so you don't believe in individual free choices? Governments (elitist who knows better) need to regulate what u can and cannot do, this makes absolutely no sense... Why would the know better? Besides YOU CANNOT HAVE A FREE-MARKET WHEN YOU A CENTRAL BANK AND FIAT CURRENCY, like we've had since 1913..

Abouth anarchism, another word would be: 'voluntary government', meaning you can opt out... But understand that any governments very nature (whether u think necessary or not) is immoral in nature..

[gilperalta]

23:20 is hilarious! Soooo many dumb Americans just can't understand this principle. They just assume that government spending is the answer. If a charasmatic and communist president says its good, then it must be! lol, morons! long live the Republic!!

[lennyfloss]

@BlueRaven89 Some would say the priests are the presidents and kings are economists! Bernanke is a dictator under private rule.

[PanzerDivisionBOM]

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If a money is being inflated, manipulated or made otherwise unsuitable as a medium of trade or calculation, you don't need to go through the red tape to cajole a central planner to adjust their conduct - just don't accept it in trade. If state intervention causes malinvestment, then it will be immediately noticeable as a devaluation of one or a few currencies, and entrepreneurs will be able to adjust their conduct much more easily.

It really is the ultimate accountability.

[PanzerDivisionBOM]

@stevenstreets3

Here's an idea: let money be provided by the marketplace itself. No state monopoly of currency, no legal tender laws. Anyone can issue their own money legally, anyone can choose for themselves whether or not to accept a money in trade and at what rate, and counterfeiting is dealt with as a kind of fraud (issuing money in someone else's name; comparable to forging a signature or to sticking another company's logo on your own product without their permission).

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[germancookie20011]

@stevenstreets3 I do not know the construct of the economical system in America and therefore have to give my opinion on these things based on my studies and on my view on this topic. The Federal Reserve has to keep the inflation at a low and stable rate and therefore there is not so really any need to change it. Of course i am against a governing "elite" to run the supply of money but i would be even more fearsome of politicians ruling it.

[stevenstreets3]

@germancookie20011 It might make sense to grant a religious chief ( Pope) or Supreme Court Judge unelected tenure for life, but money is so important to the very lives, liberty, and procreation of humanity both rich and poor that money authority must be accountable to The People through elected democratic government. To argue that money should be without such popular accountability is to argue for a King or Dictator of the People. It's like calling for an unelected nobility (Federal Reserve).

[stevenstreets3]

@greg5566 I don't want to kill anybodys economics or anybody. The wisdom of Article One section 8 and 10 is that the money is a precious metal free market commodity that simply does not inflate. Never. Period.

In fact it's two, 2, such commodities preventing a monopoly over the money that might be abused by either a consortium of fractional reserve banks or One Party Kleptocracy to ignore the consequences of "irrational exuberance" inflation.

Paper must be a receipt for reality or its fraud

[germancookie20011]

@stevenstreets3 My complain was in not against the system of taxation. The definition of monetary policy by Wikipedia is "the process by which the monetary authority of a country controls the supply of money". It does not have any connection to taxation (that is fiscal policy). My complaint was only that if politicians were to control the supply of money then some might use it to impact the aggregate demand which is contrary to the main goal of every country, a low and steady rate of inflation.

[stevenstreets3]

@germancookie20011 Yes! that's called Taxation by Representation. The very essence of our system of checks and balances in the Constitution and why we were forced to fight a revolution against Mother (f***) England.

Article One section 10 puts the two precious metal legal tenders under accountable authority of the elected State Republics where all real economy is local. Todays unelected Guvnors of the monopoly money rob the people of this fundamental right. It's not just a good idea its the law.

[germancookie20011]

@stevenstreets3 You are saying the monetary policy of a nation should be controlled by political campaigns and politicans?

[stevenstreets3]

Fiat $pecie is the money of the ant-chri$t. Its only printed to rob the people of their control over government. The US Constitution mandates that nothing but hard Gold and Silver can actually be legal tender. TO WIT: The Congress shall have power To coin Money, regulate the Value thereof, and of foreign coin, and fix the standard of Weights and measures. No State shall; coin Money; emit Bills of Credit; make anything but gold and silver Coin a Tender in Payment of Debts;

FED NOTE$= TREASON