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Can anyone name a country that has successfully implemented Austrian
school economic theories?
Regards
DanG
Mark Simms wrote:
<blockquote type="cite"
cite="">
Exactly.
Lookie here:
<font
face="Arial">Sarbanes-Oxley expensive for big
companies - study
The Sarbanes-Oxley law, intended to reduce conflicts of interest at
big companies, has led to dramatic increases in spending on
accountants, lawyers, directors and insurance.
<a
href=""><font
face="Arial" size="2">http://quote.bloomberg.com/apps/news?pid=10000103&sid=aVVkFszuhZAQ&refer=us
<font
color="#0000ff" size="2">More laws = higher expense of doing business
= lower economic efficiency
<font
color="#0000ff" size="2">...and the end of the national anthum needs
to be changed from :
<font
color="#0000ff" size="2">"...and the land of the free" to the "...and
the land of the lawyers".
<blockquote
>
<font
face="Tahoma" size="2">-----Original Message-----
From: Glen Wallace [mailto:gcwallace@xxxxxxx]
Sent: Monday, May 05, 2003 2:49 PM
To: Realtraders List
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."
<blockquote
>
<div
>-----
Original Message -----
<div
>From: <a
title="dan.c@xxxxxxxxxxxx" href="">Dan C
<div
>To: <a
title="realtraders@xxxxxxxxxxxxxxx"
href="">realtraders@xxxxxxxxxxxxxxx
<div
>Sent:
Monday, May 05, 2003 8:36 AM
<div
>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). <font
face="Arial">Regards.
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