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What is Austrian Economics? http://mises.org/etexts/austrian.asp
The Austrian School
The story of the Austrian School begins in the fifteenth century, when the followers of St. Thomas Aquinas, writing and teaching at the University of Salamanca
in Spain, sought to explain the full range of human action and social organization.
These Late Scholastics observed the existence of economic law, inexorable forces of cause and effect
that operate very much as other natural laws. Over the course of several generations, they discovered and explained the laws of supply and demand, the cause of inflation, the operation of foreign
exchange rates, and the subjective nature of economic value--all reasons Joseph Schumpeter celebrated them as the first real economists.
The Late Scholastics were advocates of property
rights and the freedom to contract and trade. They celebrated the contribution of business to society, while doggedly opposing taxes, price controls, and regulations that inhibited enterprise. As
moral theologians, they urged governments to obey ethical strictures against theft and murder. And they lived up to Ludwig von Mises's rule: the first job of an economist is to tell governments
what they cannot do. |
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Keynesian Economics vs. Austrian Economics
If you are interested in monetary policy and seeing Ben Bernanke and others like him completely misjudge this financial crisis(on purpose?) vs.
sane economists Like Peter Schiff predict this crisis coming years ahead, this is an excellent 10 minute educational video. We do not have to live in a world of economic turmoil of bubbles and
busts. It is manufactured by the FEDERAL RESERVE PRIVATE BANK and they need to go! Woodrow Wilson helped create this monster in 1913 along with the income tax. Our fore fathers warned us about
central banks and the Progressives listened well on how to destroy a country's economy. The Austrian Economic model is really pretty simple, let free markets with sound money do what they do
without government interference in interest rates, credit or the money supply .
http://www.youtube.com/watch?v=MnekzRuu8wo&feature=player_embedded
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3.5 million people have viewed this video.
Democrats in their own words Covering up the Fannie Mae, Freddie Mac scam that helped caused our economic crisis. This is not new, it is from 2008.
http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=player_embedded
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ASCENDANT CHILE JOINS OECD: A TRIUMPH OF LIBERTY
Chile was experimental like no other country when it comes to economic liberalization, and it has benefited as a result
On January 11, Chile became the first South American country to
join the Organization for Economic Co-operation and Development (OECD). With its accession to the OECD, which is effectively the club of the world's 30 developed nations, Chile has laid
down an important milestone for anyone who cares about growth and freedom, says Ryan Streeter, a Senior Fellow with the London-based Legatum Institute.
Chile was experimental like no other country when it comes to economic liberalization, and it has benefited as a result, says Steeter:
* The legendary "Chicago
boys," a group of 30 Chileans who studied under economist Milton Friedman at the University of Chicago, spent more than a decade in the 1970s and '80s liberalizing trade, deregulating
markets, de-politicizing the economy and implementing a host of other free-market reforms.
* Chile's resulting positive economic trajectory over the past several decades is a big part of why the OECD has admitted the nation.
By 2004, Chile had returned to the
top rating in the Freedom House's index of political and civil liberties after its recovery from the long and dark years under Pinochet, says Streeter:
* Before its
worst trials began a generation ago, Chile enjoyed a fairly durable democracy, which then went through a terrible trial; but the country recovered the best of its past and began running ahead of
its neighbors.
* In the Legatum Institute's Prosperity Index, Chile tops the list of South America's largest countries (those with populations over 10 million), buoyed by
its high scores in governance, safety and security, and the contribution of its policies to economic growth.
* Together with its economic reforms, Chile has taken democratic
governance seriously, creating an environment in which economic transactions are depoliticized, the rule of law is effective, and citizens are safe and free to choose their path.
Today,
Chile stands as a clear reminder of the underpinnings of growth and progress to which many in the West have grown so accustomed that they may likely not recognize them anymore, says Streeter.
Source: Ryan Streeter, "Ascendant Chile Joins OECD: A Triumph of Liberty," American Enterprise Institute, January 12, 2010.
For text:
http://blog.american.com/?p=9244
For more on Economic Issues:
http://www.ncpa.org/sub/dpd/index.php?Article_Category=17 |
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Bush's Fault
The day the democrats took over was not January 22nd 2009 -- it was
actually January 3rd 2007, the day the Democrats took over the House of
Representatives and the Senate, the start of the 110th Congress.
The Democratic Party controlled a majority in both chambers for the
first time since the end of the 103rd Congress in 1995.
"For those of you who are listening to the kool-aid drinking liberal
fools propagating the fallacy that everything is "Bush's Fault", think
about this:
January 3rd, 2007 was the day the Democrats took over the Senate and
the Congress:
At the time:
The DOW Jones closed at 12,621.77
The GDP for the previous quarter was 3.5%
The Unemployment rate was 4.6%
A RECORD of 52 STRAIGHT MONTHS of JOB CREATION
Remember the day...
January 3rd, 2007 was the day that Barney Frank took over the House
Financial Services Committee and Chris Dodd took over the Senate
Banking Committee.
The economic meltdown that happened 15 months later was in what part of
the economy?
BANKING AND FINANCIAL SERVICES!
THANK YOU DEMOCRATS for taking us from 13,000 DOW, 3.5 GDP and 4.6%
Unemployment... to this CRISIS by (among MANY other things) dumping 5-6
TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and
Freddie Mac FIASCOS! (BTW: Bush asked Congress 17 TIMES to stop Fannie
& Freddie - starting in 2001 because it was financially risky for the
US economy). |
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