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I do not believe that any country has completely
enforced the Austrian school, except for Hong Kong and Singapore. Though
on some fronts the Singapore govt. has been heavy handed, they were also dealing
with a legacy heterogeneous economy that had Chinese, Malays, Indians and no
resources ... which is why I still consider them a hybrid but valid Austrian
approach.
I strongly recommend reading Faber's Tomorrow's
Gold for great examples and to see how an understanding of this vein of
economics can be applied to discover great trading opportunities.
Navtej
----- Original Message -----
<BLOCKQUOTE
>
<DIV
>From:
Charles Meyer
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, May 06, 2003 4:54 AM
Subject: Re: [RT] VON MISES AND AN
ECONOMIC BLUEPRINT?
Dan-
You are right. There isn't one. This
brings to mind first a song; "What A Wonderful World It Could Be"; and a
couple of book titles: "How I Found Freedom In An Unfree World" and
"Capitalism:
The Unknown Ideal". Not to be confused with
the theoritical construct of socialist economic systems
where there are plenty of historical examples of
abject failure after failure.
chas
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Dan
Goncharoff
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, May 06, 2003 12:35
AM
Subject: Re: [RT] VON MISES AND AN
ECONOMIC BLUEPRINT?
Can anyone name a country that has successfully implemented
Austrian school economic theories?RegardsDanGMark Simms
wrote:
<BLOCKQUOTE cite=""
type="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
<SPAN
class=605242912-05052003>
<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".
<SPAN
class=605242912-05052003>
<BLOCKQUOTE
>
<FONT face=Tahoma
size=2>-----Original Message-----From: Glen Wallace [<A
class=moz-txt-link-freetext
href="">mailto:gcwallace@xxxxxxx]Sent:
Monday, May 05, 2003 2:49 PMTo: Realtraders
ListSubject: 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:
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: <FONT
face=Arial>"The Mystery of Banking" by Murray
Rothbard"America's Great Depression" by Murray Rothbard"The Theory
of Money and Credit" by Ludwig von Mises <FONT
face=Arial>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
face=Arial>Regards.To
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