You strike me as the type of person who has never read, or bothered to comprehend the arguments not only against your opinion, but the one's actually in favor of it ...
I own a copy of Keynes' general theory. Again, I did very well in HSC economics and University Economics, I just found that Austrian economics pointed out the flaws that were glaringly obvious in the models used by keynsian and neo-liberals.
Again I think the likely reason is that they demand intellegence and rigor that go beyond watching 2 mintue 'audit the fed' ron paul videos.
Ron Paul is somewhat of a freedom lover but he's also an NWO supporting crackpot. The theories do demand intelligence and rigor, but they are effectively squaring the circle of the magisterium and using an increasingly complex and opaque series of economics to manage the mixed-markets abortion we have now.
It's just sad that you think there is this grand 'debate' against Austrians, most economists, myself included, agree and are sympathetic with many of their conclusions, but they fail to develop formal models of the market process, it is not possible to assess claims concerning the efficiency of that process, and secondly in the absence of such modeling, it is not possible to adress the central issues of concern here, the mix and design of public and private activities..
The primary reasoning behind the lack of modelling is that these outcomes are founded entirely on philosophical claims. They come from a logical extrapolation of the axioms of non-intervention. Modelling whilst sometimes useful to provide a rudimentary insight into the issue is always incredibly inaccurate. The reasoni being that you cannot predict and understand that many variables, so you provide a 'best case' scenario or a biased interpretation.
But its statements like 'natural flow of the market' that really start to raise the alarm bells, and again, nothing your say is new or intelligent, much like your embarrasing attempts to make witty statments.
Basically you should just stick to correcting my spelling mistakes..something the blank-minds seem to relish
I'd much rather try and fail to make an intelligent statement than come across as such a poor communicator.
Your claims come effectively from the allegation that I'm treating the market like a benevolent deity. I'm not. Markets are effectively made up of billions of people making their own independent decisions from which a form of chaotic order is formed. The problem is that there is a natural state to which these systems regress. Intervention causes investment to be misdirected and causes disruptions in the processes of these markets.
It's a battle of the theories, you seem unable to point out any specific flaws in the case made by the austrians other than they're apparently primitive and refuse to use modelling because they see it as antithetical to the actual practice of economics, which is the recommendation of social and economic policy to governmental institutions.
We have a debate of two theories, one provides an optimal solution in the vast amount of scenarios and requires a substantially reduced level of intervention in the financial and social lives of human beings.
The other is a continuous intervention at every level in the livelihoods and lives of people.
One correctly predicted every major crash and identified the situations that prolong crashes and recessions.
The other hasn't and continues to prolong crashes and recessions and effectively stifle overall growth.
This isn't a discussion about facts, it's a discussion about philosophy. If you think you're dealing in facts, you aren't. They are divined insights based on the intersection of the personal and the political.
It is obvious that the cognitive impairment that affects your ability to communicate also substantially impacts your ability to interpret and discuss this on a philosophical level.
I would posit that it would be in your best interests to at least read Rothbard's America's Great Depression and point out what major issues you have with it.
Entertain something you necessarily do not believe with and maybe you'll trick us all into thinking you're an educated man.
