Re: [RT] VON MISES AND AN ECONOMIC BLUEPRINT?

["Charles Meyer" <chaze@xxxxxxxx>]

Great explanation Glen!!!  Thanks for pointing 
out these succinct distinctions which I was unable to
articulate.  
 
chas
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  ----- Original Message ----- 
  <DIV 
  >From: 
  Glen Wallace 
  
  To: <A 
  href="" 
  title=realtraders@xxxxxxxxxxxxxxx>Realtraders List 
  Sent: Monday, May 05, 2003 1:48 PM
  Subject: Re: [RT] VON MISES AND AN 
  ECONOMIC BLUEPRINT?
  
  Wow, that's like asking "how do I make money in 
  the markets" in one paragraph or less, but here are a few 
  distinctions:
   
  1.  government invention worsens business 
  cycles and prolongs recession and depression
  2.  they advocate sound, non-inflationary 
  money
  3.  fractional reserve banking is imprudent, 
  inflationary and promotes boom-and-bust cycles
  4.  deflation is not the bogey man 
  Keynesians make it out to be.  It is simply a correction of malinvestment 
  and inflationary excesses
   
  Here's a quote from Rothbard's 1963 
  "America's Great Depression" that distinguishes Austrian theory from what 
  we have come to know as "traditional" economic ideas, and, by parallel, 
  highlights the current problems in trying to solve the Japanese banking 
  situation:
   
  "If government wishes to alleviate, rather than 
  aggravate, a depression, its only valid course is laissez-faire -- to leave 
  the economy alone.  Only if there is no interference, direct or 
  threatened, with prices, wage rates, and business liquidation will the 
  necessary adjustment proceed with smooth dispatch.  Any propping up of 
  shaky positions postpones liquidation and aggravates unsound conditions.  
  Propping up wage rates creates mass unemployment, and bolstering prices 
  perpetuates and creates unsold surpluses."
   
   
   
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    ----- Original Message ----- 
    <DIV 
    >From: 
    Dan C 

    To: <A 
    href="" 
    title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx 
    Sent: Monday, May 05, 2003 8:36 
AM
    Subject: Re: [RT] VON MISES AND AN 
    ECONOMIC BLUEPRINT?
    Would you speak to the differences or uniqueness of Austrian 
    economic theories. 
    Dan 
    Glen Wallace wrote: 
    
      
      If you're interested in learning more about 
      the Austrian economic theories, read: <FONT 
      size=-1>"The Mystery of Banking" by Murray Rothbard"America's Great 
      Depression" by Murray Rothbard"The Theory of Money and Credit" by Ludwig 
      von Mises The first two books 
      give you a taste of the theories and can be downloaded free from <A 
      href="">www.mises.org .  The last book is a 
      bit dry, but I think it is considered the Austrian School bible (or at 
      least a pretty important hymn book). <FONT 
      size=-1>Regards.To 
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