Keynesian Vs Austrian Economics

[Chris]

A succinct comparison of Keynesian and Austrian Economics covering economic growth, business cycles, inflation, and structure.



Link to larger view: https://i.redd.it/z9y0ay7cqx681.jpg

[RMNIXON]

If Spending and Consumption Demand drives economics then why don't we just print money like Mad, send everyone checks, and solve our problems overnight?

Not to mention highly populated third world countries that should be perfect examples of consumer driven economics. No shortage of need as far as I can see......

[Chris]

If Spending and Consumption Demand drives economics then why don't we just print money like Mad, send everyone checks, and solve our problems overnight?

Not to mention highly populated third world countries that should be perfect examples of consumer driven economics. No shortage of need as far as I can see......

Because printing money cheapens it. You spend and consume less.

[carolina73]

Word's to live by:

Ludwig von Mises's rule: the first job of an economist is to tell governments what they cannot do.

[Chris]

Word's to live by:

Ludwig von Mises's rule: the first job of an economist is to tell governments what they cannot do.

Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."

[carolina73]

Hayek: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."

The Green Economy is our current reminder of that.

[Cotton1]

Because printing money cheapens it. You spend and consume less.

Our US dollar aka "fiat currency " has had an increase in printing of 37% very recently.
That's a very serious dilution. I'm surprised inflation isn't higher

[The Booman]

Our US dollar aka "fiat currency " has had an increase in printing of 37% very recently.
That's a very serious dilution. I'm surprised inflation isn't higher

It probably is. They just don't want to tell us.

[carolina73]

Our US dollar aka "fiat currency " has had an increase in printing of 37% very recently.
That's a very serious dilution. I'm surprised inflation isn't higher

We know it is because they do not use commodities in their numbers. Gas and Food have skyrocketed.

[Cotton1]

We know it is because they do not use commodities in their numbers. Gas and Food have skyrocketed.

Since commodies are both tangible and non tangible plus being the elements of the supply /demand chain from the producers, manufacturers etc to the consumer they are an accurate gauge

That is precisely why they don't use them . DC politicians think they are slicker than a cats ass on Halloween.

In reality they only fool the greatest fools among us from Diego to the hood


Cotton sighed
Mama Cass went
" Gak gak gak, ham sandwich "