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

[Dan C <dan.c@xxxxxxxxxxxx>]

I knew it was an rather large and ambiguous question , just wanted to have
that thumbnail.  Thanks
Dan
Glen Wallace wrote:
 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 depression2.  they
advocate sound, non-inflationary money3.  fractional reserve banking
is imprudent, inflationary and promotes boom-and-bust cycles4.  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."
<blockquote 
>
----- Original Message -----

<div 
  >From:Dan
C

To: 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: "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 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). Regards.



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