Liberal or Labor? (7 Viewers)

[-Lemon-]

well yea because what makes government better at spending then an individual

the government spends on what they perceive we want or just what they want regardless of what we say, sounds pretty inefficient to me

Why do you dirty uneducated idiots keep saying this stuff, it was exploded nearly a century ago
There is an overwhelming empirical and theoretical case for deficit spending during financial crisis's, credit crunches, etc.

Now please stop inserting yourself into debates about economic theory, your a layman, it's nauseating.


Also @ Kwayera
Weren't you the one who admitted to being intellectually stimulated by Malcolm Turnbull...? The "Young-Liberal' hanger-on?
yuk.

 

[scuba_steve2121]

Why do you dirty uneducated idiots keep saying this stuff, it was exploded nearly a century ago
There is an overwhelming empirical and theoretical case for deficit spending during financial crisis's, credit crunches, etc.

Now please stop inserting yourself into debates about economic theory, your a layman, it's nauseating.


Also @ Kwayera
Weren't you the one who admitted to being intellectually stimulated by Malcolm Turnbull...? The "Young-Liberal' hanger-on?
yuk.

that saves the economy in the long term fucking bullshit

 

[-Lemon-]

that saves the economy in the long term fucking bullshit

Say again? In English?

 

[Kwayera]

Also @ Kwayera
Weren't you the one who admitted to being intellectually stimulated by Malcolm Turnbull...? The "Young-Liberal' hanger-on?
yuk.

Okay..?

 

[Calculon]

People get to take home more of what they earn, and the economy thrives.

Exactly how doesn't this make us better off?

That's not the economic justification for cuts. They remove disincentives to work, increasing the net productivity of the economy.

 

[Calculon]

So you think academics etc are less capable of taking the broader view into account than car mechanics and forklift operators?

I think an academic is less informed about a car mechanic wants for breakfast than the mechanic himself.

 

[scuba_steve2121]

Say again? In English?

the english was fine, if you can't make sense of that statement then perhaps it is not me who has the english problems.

anyways, what evidence do u have that Keynesian in the long run is beneficial to the economy

 

[Kwayera]

That's not the economic justification for cuts. They remove disincentives to work, increasing the net productivity of the economy.

I am aware of this. I was simplifying.

 

[-Lemon-]

anyways, what evidence do u have that Keynesian in the long run is beneficial to the economy

You have an awful grasp of simple syntax, I'm not exactly sure what the 'Keynesian' you refer to is? Perhaps you meant 'Keynesian economic policy'?

Anyway, the whole point of stimulus spending is that, in the long run, there is a net benefit.
What exactly do you think happens to economic activity in a contraction? Resources go to waste, this is no a good thing, the vicious cycle of thrift and unemployment is unnecessary, the market system fails, there are no benefits, short term or long term, in 'doing nothing'.

 

[Lentern]

I think an academic is less informed about a car mechanic wants for breakfast than the mechanic himself.

The academic probably has a better idea about what the car mechanic would be best to have for breakfast.

 

[scuba_steve2121]

You have an awful grasp of simple syntax, I'm not exactly sure what the 'Keynesian' you refer to is? Perhaps you meant 'Keynesian economic policy'?

Anyway, the whole point of stimulus spending is that, in the long run, there is a net benefit.
What exactly do you think happens to economic activity in a contraction? Resources go to waste, this is no a good thing, the vicious cycle of thrift and unemployment is unnecessary, the market system fails, there are no benefits, short term or long term, in 'doing nothing'.

YouTube - "Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem

 

[Rothbard]

The academic probably has a better idea about what the car mechanic would be best to have for breakfast.

Stop trolling.

 

[murphyad]

YouTube - "Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem

Quick question:

OK so say you have a government stimulus that includes a program to build roads or factories or something like that (efficacy of said stimulus not withstanding).

From an Austrian perspective, is there any economic benefit whatsoever to any future (i.e. when there is an upswing) increase in productive capacity relating from those programs?

 

[Rothbard]

OK so say you have a government stimulus that includes a program to build roads or factories or something like that (efficacy of said stimulus not withstanding).

The roads stuff is just geographic subsidisation, factories much the same. Are the factories for any particular purpose or just the government picking winners?

 

[murphyad]

Well factories were probably too specific an example so I will generalise:

Obviously the stimulus includes any project which is designed to stimulate the economy through providing jobs, increasing spending or whatever, whether that increases malinvestment or not. For instance, the government commissions a racetrack solely for the purpose of providing jobs.

So to an Austrian, is there any long-term benefit to any such activity if it has just been implemented as a stimulationary measure e.g. the ability to hold races at the track which will hopefully attract people from abroad to spend their money locally etc etc.

I dunno if that makes any sense but economics is not my forte so there is my question.

 

[Rothbard]

Nah if the benefit was going to be there someone else would have done it first, dude.

 

[Lentern]

Stop trolling.

Stop deregulating.

 

[Rothbard]

Stop deregulating.

Ugh you DLP aspergers stooge.

 

[funkshen]

that saves the economy in the long term fucking bullshit

In part, the justification for stimulus spending and government intervention involves an understanding that there are long term economic consequences to recessions. These consequences increase exponentially with the magnitude of the recession. There is empirical evidence to support such a proposition. Governments and constituents are therefore convinced of the long-term benefits of stimulus spending, of automatic stabilisers, etc.

 

[Existential]

a better question for this thread would be:

Abbott or Rudd?

...they are two different questions with different answers - AND THAT IS THE GOSPEL TRUTH.