Donald Trump Posted May 12, 2016 Share Posted May 12, 2016 Which is better and why? Quote Link to comment Share on other sites More sharing options...
Gandorian Posted May 12, 2016 Share Posted May 12, 2016 Which reminds me of a chart that may help... 2 Quote Elder and Minister of Finance for The Coalition Link to comment Share on other sites More sharing options...
Doktor Avalanche Posted May 13, 2016 Share Posted May 13, 2016 Well, Gandorian posted more than what I was going to go into in a single image. I prefer Austrian myself. 1 Quote Beer. Damn Good Beer. Link to comment Share on other sites More sharing options...
SoS Posted May 13, 2016 Share Posted May 13, 2016 Which is better and why? That's bad. What's your opinion? They're both wrong, but Keynesian is more logical and works somewhat in practice. It's a rollercoaster, but that's fun and profitable. Quote Link to comment Share on other sites More sharing options...
Lannan13 Posted May 16, 2016 Share Posted May 16, 2016 I believe that Austrian economics is the only way to go. Quote Tiocfaidh ár lá =Censored by Politics and War Moderation team= Link to comment Share on other sites More sharing options...
SoS Posted May 16, 2016 Share Posted May 16, 2016 I believe that Austrian economics is the only way to go. Wrong. Austrian is worse than all others. Quote Link to comment Share on other sites More sharing options...
K Rudd Posted May 16, 2016 Share Posted May 16, 2016 Keynesian is my model of choice. The current Australian government is using the Austrian method at the moment and its doing jack all for the economy. Its generates a sense of fear, if everyone saves, everyone cuts spending- simply is a downward spiral to a point no more savings can be made. Than jobs are cut and guess what the circle continues down. It generates no confidence in the economy - shifts a full time workforce to a part time one. What is the point of low home interest rates if you don't have a job? Quote Link to comment Share on other sites More sharing options...
Doktor Avalanche Posted May 16, 2016 Share Posted May 16, 2016 Wrong. Austrian is worse than all others. Explain. Keynesian is my model of choice. The current Australian government is using the Austrian method at the moment and its doing jack all for the economy. Incorrect. The current Australian government is driven primarily under Keating's implemented plans which is as close to Keynesian Economics as you can get. The only factor even resembling Austrian Economics is a highly recognized "open market" which is common in the Southeast Pacific for decades now. Quote Beer. Damn Good Beer. Link to comment Share on other sites More sharing options...
Lannan13 Posted May 16, 2016 Share Posted May 16, 2016 Wrong. Austrian is worse than all others. How so? Quote Tiocfaidh ár lá =Censored by Politics and War Moderation team= Link to comment Share on other sites More sharing options...
Prezyan Posted May 16, 2016 Share Posted May 16, 2016 After reading extensively about both Keynesian and Austrian Economics, I've come to the conclusion that both are faulty.I won't get into any specifics as there are much better economists here (looking at you Lannan) but from a economy enthusiast, I've come to see that there are many instances in which both systems work - partially.Keynesian policy has proven to increase job growth and overall spending into the economy, however this is a direct result of government intervention, and the moment such intervention stops, well the jobs and the spending that was occurring ceases, usually entirely. Meanwhile, Austrian policy is clearly better for when the economy is ALREADY doing well, but doesn't work well if the economy crashes. Though I also agree with the Austrian principle of saving, investment, and deflation.But of course, this is simply from a guy who likes to observe economic cycles. o/ Quote Psweet> pro-tip: don't listen to baronus if Prezyan disagrees with him 5:48 AM — +Eva-Beatrice sq**rts all over the walls Eva-Beatrice> I'd let Sintiya conquer me anyday x) 10:56 PM — +Eva-Beatrice m*st*rb*tes in front of Prezyan 12:13 AM — +Eva-Beatrice has no one to !@#$ Link to comment Share on other sites More sharing options...
James Hequ Posted May 16, 2016 Share Posted May 16, 2016 I believe that Austrian economics is the only way to go. Wrong. Austrian is worse than all others. I <3 claims without evidence Quote Link to comment Share on other sites More sharing options...
Lannan13 Posted May 17, 2016 Share Posted May 17, 2016 1 Quote Tiocfaidh ár lá =Censored by Politics and War Moderation team= Link to comment Share on other sites More sharing options...
SoS Posted May 17, 2016 Share Posted May 17, 2016 I <3 claims without evidence What can I say? OP and Austrians are giving me nothing to work with. There are huge flaws in Keynesian, but Austrian is just a protest psuedo-science. Hating taxes isn't enough to qualify as an economic theory. Quote Link to comment Share on other sites More sharing options...
Doktor Avalanche Posted May 17, 2016 Share Posted May 17, 2016 What can I say? OP and Austrians are giving me nothing to work with. There are huge flaws in Keynesian, but Austrian is just a protest psuedo-science. Hating taxes isn't enough to qualify as an economic theory. You can do better than just throwing pseudo-chitlins out there. Never read Rothbard, Mises, Menger or Kirzner? Find some meat to prove your stances. At least debate that Austrians do not use as many graphs and flow charts than Keynesians. Quote Beer. Damn Good Beer. Link to comment Share on other sites More sharing options...
SoS Posted May 17, 2016 Share Posted May 17, 2016 Austrians do not argue meaningful economic factors. Let them try We'll talk. Quote Link to comment Share on other sites More sharing options...
Lilac Veritas Posted May 17, 2016 Share Posted May 17, 2016 (edited) Someone already beat me to the first one:KEYNES & HAYEK: ROUND TWO Edited May 17, 2016 by Lilac Veritas 1 Quote As you sow, so shall you reap Link to comment Share on other sites More sharing options...
Lilac Veritas Posted May 17, 2016 Share Posted May 17, 2016 I believe we should adopt a pluralist view of economics, as obviously every theory has flaws. I'm a fan of Keynesian mainly due to the success of the Hawke-Keating governments. We've had 23 years without a recession, the last one being 1992 or to paraphrase Keating 'the recession we had to have'. Quote As you sow, so shall you reap Link to comment Share on other sites More sharing options...
Doktor Avalanche Posted May 18, 2016 Share Posted May 18, 2016 Austrians do not argue meaningful economic factors. Let them try We'll talk. So favoring an open market for currencies is not meaningful nor a major factor. Interesting. I can understand the angst against the Austrians for constantly blaming Government oversight for every wrong when much blame needs to be directed at the Money Power itself. I can also see the irony of blaming the Federal Reserve as the problem when in fact it is more of a symptom of the Money Power. But when it comes to protection from the boom/bust cycle manipulation the Austrians are all on it, which is why it is fringe and not mainstream due to a bust not occurring every month. Quote Beer. Damn Good Beer. Link to comment Share on other sites More sharing options...
James Hequ Posted May 18, 2016 Share Posted May 18, 2016 I haven't dine research so I am a dumb !@#$ on economic policies but maybe a centrist view is the best if we are only talking about our preferences Quote Link to comment Share on other sites More sharing options...
Kemal Ergenekon Posted May 19, 2016 Share Posted May 19, 2016 The current debate in economics is between neoclassicals and neo-Keynesians, and even that is stale. 1 Quote Link to comment Share on other sites More sharing options...
Four Posted May 20, 2016 Share Posted May 20, 2016 When creating a thread Opening posts should be a paragraph with at least 4-5 complete sentences. Quoting from outside references may only include small portions of the article. Do not post or quote an entire article. Thread titles should be a brief description of the thread topic. Moderation has the right to alter thread titles that do not follow this rule. Whether a thread has sufficiently set a basis for respectful debate on the thread topic will be at the discretion of the moderators Quote It was a pleasure serving this community - Stay Frosty! Forum Rules ☆ Game Rules ☆ Terms of Service ☆ PW Wiki ☆ IRC Link to comment Share on other sites More sharing options...
Lannan13 Posted May 20, 2016 Share Posted May 20, 2016 Someone already beat me to the first one: KEYNES & HAYEK: ROUND TWO I love how they fallowed through with the "Too big to fail" and bailed out JMK despite his loss. Quote Tiocfaidh ár lá =Censored by Politics and War Moderation team= Link to comment Share on other sites More sharing options...
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