What are your thoughts on Austrian Economics?
Doing a case study on Austrian economics, any countries where this school of thought has actually worked? Also any reading suggestions??
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do your own homework
Estimates put a post-Euro Austrian currency at $1.25, so they're doing something right over there that we're not doing...
Yeah, it works in third world countries where there is no large scale organization of the economy. Or anything else for that matter. Austrian economics is a subset that serves as a useful lense through which to look at the general economy, but in and of itself is a failed theory that has never been deemd fit for practical implementation on a large scale....largely because it would require dismantling the general system on which too many other important factors depend.
Worked in the US up until 1933 when you guys abandoned it.
There was a depression in the US in 1920 where the economic/stock market contraction was bigger than in the great depression.
The governement & the FED refused to intervene (eventhough the crisis was caused by the FED printing too much during the 1st world war) and guess what happened? The depression was over after a year.
yea? and hows your Iraqi economy doin?
That alone shows that you have no clue on how an economy work.
you're right..what is an economy? I want a five page paper sent to me by 5 AM Iraqi Time tomorrow
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