MoneRogue | Justice for Hayden Panettiere's avatar
MoneRogue | Justice for Hayden Panettiere
MoneRogue@coinos.io
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Teaching the world about Austrian economics, one meme at a time. bitcoin:bc1qlefc5lwqdtu9d6xend9yxcd3qcs0umcnn0e5wp monero: 8ADYj4tVrrGN7GH5z2rcQKXhbix9xco74jZxzpfFfckKYNykU38aVYtAWYsBsFZjzhR6bxn6CCkcgBNRhXVZaRPf6SkeGhH zano:ZxBnVaKESwG2eYiaDSKvS88UjvbuRpR4cEkXNsSptiS79SX43WGiBmm4tBKeSca66K95S1EwiNrvt7wNVTCZhJ9H1geeLtp2e
Investment decisions in the present are made based on uncertainty for future goods. Therefore, when inflation gets bad, so does risks. This leads to less investors taking on said risks to increase benefits, particularly employment. This precisely why the stagflation occurred in the 1970's and early 80's that proved Keynesianism to be a complete and abysmal failure, debunking the myth that inflation and unemployment were not possible simultaneously.
What the phrase "all men are created equal" means is that every individual is entitled to the same unalienable rights i.e life, liberty, and property. What it DOESN'T mean is that all cultures are equal. In other words, if your culture encourages degenerate behaviors such as: Theft Fraud Murder Trespass Rape Genocide And any high time preference behaviors Then I have no obligation to support your culture, and I won't, since your culture is a threat to everyone's rights.
The reframing of inflation as price increases instead of increases in the money supply has made it harder to see the root cause of said price increases to the point that any other factor but the central banks serve as the scapegoat.
Whether you like it or not, anonymity plays a critical role in the functioning of an economy, as people play different roles in various areas without ever having to know everyone else in the supply chain.
Look Thomas Sowell, I know you're writing what is probably one of the most important economic books for normies to read, but there is NO REASON you could've fumbled this hard! image
Austrians look at economics from the bottom-up (human action), everyone else looks at economics from the top-down (aggregates). The advantage from this bottom-up approach is that it makes things easier to take into account society at large, rather than numbers that can easily be manipulated.