Would love to hear it. Love. Also provide some real world uuse cases for it as well.
nostr:nprofile1qqsfehqqk7kccsh3ef40wjjsx9ylp85mhp2wc4d067sjzxlxakus67cpz4mhxue69uhhyetvv9ujumn0wd68ytnww5hszymhwden5te0wp6hyurvv4cxzeewv4ej7qgwwaehxw309ahx7uewd3hkctcd4g3j4 pleas explain economics 101 to @slayer . He thinks without money theft, you dont get economic growth
Discussion
Did you read any Austrian economics books? Hayek, Mises and Rothbard are the main ones.
I have no need to. It does not serve me whatsoever.
It remains theory with no practical use in the world given that we have governments and not kings or empires.
I don't plan on using classical or Austrian economics because they are archaic models that lack real world use in modern society.
It's like communism, great on paper, fails in reality.
See Argentina if you want a real-time analysis of Austrian economic modelling.
Human action isnt a theory, its reality ππ
Firstly, Melei is not a libertarian. Or at least he does not implement strict libertarian principles, so thatβs a problem right there.
He has a facade but in reality the policies and the implementation of such policies after real humans. People die.
Economics can be all theory and "book smart what ifs" but the reality of economics is an observation of human behaviour and the systems they create.
That's why Keyensian economics is the defacto model, due to Government being the main central decision makers and policy makers.
Added to this, the vast majority of people rely on government intervention (think grants) and the same people who cry for deregulation were crying for stimulus checks and debt pardons.. from government.
COVID strikes and "oh government needs to intervene" or Wall Street crashes the global economy and all of a sudden government needs to bail out private business or people die.
That's the reality of it
GDP growth is not proper economic growth indicator. Example: AI stocks. gov injects liquidity or subsidizes company A, company A invests into company B, company B invests into company C, company C owns shares in A and B. GDP growth up 2x. Taxpayer negative growth 1x. Purchasing power of money diminished. Inflation is theft therefore taxation is theft.
There's multiple ways to include growth analysis, different KPI including household incomes, job numbers and over quality of life.
Government did not inject liquidity into the system, the banks do that. Government allows it. They also create stimulus injection which is poorly managed decision making rather than a failure of the system. It's called greed.
Purchasing power fluctuates constantly, it's the same as FX. It errodes but can also rise in value. See China for example of FX manipulation and undervalued Riminbi
Inflation is a "theft" when policy makers and bankers abuse low interest rate periods and 'stimulus' as a means to print money with no attributable GDP to go with it.
Inflation is actually good, it improves the overall goods and services as long as the right central bank policies are issued by the fiscal policy makers. This is a concept non-graduates do not understand.
How does infation improve the overall goods and services?