Economic Freedom & Quality of Life

[Poptech]

A word of note:

I am an accountant, about 3 classes shy of a masters. I have quite a few hours of graduate level finance and economics under my belt. I really like economics, and re-read my textbooks for fun.

The question was a very specific one, meant to test/demonstrate your understanding of economics.

You failed.

The question could be answered by taking just one undergraduate course in macro-economics.

Have you ever taken such a course?

No I actually didn't fail, you just took the wrong economics courses. You are an accountant and not an economist. All your econ course were likely taught by neo-keynesians so you really did not learn anything about economics.

I am well aware GDP is calculated by including government spending, that does not change the logic of my answer.

Yes I have taken econ courses by Keynesians and Austrian economists.

[Th'Pusher]

The point being is they are taking any reduced revenue into account through reduced spending.


I will take any of the three over the current administration's spending spree. Personally I like Ron Paul's plan.

Are you paying attention to what is going on in Europe? What's happened since real government consumption has decreased?

[RandomGuy]

No I actually didn't fail, you just took the wrong economics courses. You are an accountant and not an economist. All your econ course were likely taught by neo-keynesians so you really did not learn anything about economics.

I am well aware GDP is calculated by including government spending, that does not change the logic of my answer.

Yes I have taken econ courses by Keynesians and Austrian economists.

The definition of GDP includes and equation that has, as one of its terms, the amount of goverment spending.

I held all other things equal, but made one of the terms for that equation larger.

This means the resulting figure is for GDP, logically, mathmatically larger.

Your statement that the statement was "illogical" is therefore rejected. I find it indicative of a mind that cannot see past its own biases. That is the curse of being intelligent enough to rationalize things.

As for the amount of economics courses you have taken: Good for you.

[Poptech]

That is why I stopped bothering to debunk your claims after the first demonstrable up on your part.

You don't have any arguments, which is why you switched to spamming your denial.

[Poptech]

Are you paying attention to what is going on in Europe? What's happened since real government consumption has decreased?

I am well aware their socialist policies are failing. The cause is not reduced government consumption.

[RandomGuy]

you just took the wrong economics courses. You are an accountant and not an economist. All your econ course were likely taught by neo-keynesians so you really did not learn anything about economics.

I am well aware GDP is calculated by including government spending, that does not change the logic of my answer.

Yes I have taken econ courses by Keynesians and Austrian economists.

Ah yes, the "wrong" economics courses.

All I need to do to see how right YOU are is to take the "right" economic courses, because it is obvious that I have never been exposed to all sorts of economic theory and made up my own mind.

I just need to "do my research". twooferville, here I come.

Do you have any 2 hour videos you want me to watch?

[RandomGuy]

I am well aware their socialist policies are failing. The cause is not reduced government consumption.

Ah yes, it is the socialist form of government, and not anything to do with demography.

That would just be silly. Thanks for the info.

[RandomGuy]

You don't have any arguments, which is why you switched to spamming your denial.

You don't want to admit you ed up. That's why someone who spends months rebutting other bloggers, posting those rebuttals, and linking them as extensively as possible can't spend a minute addressing a up.

My only question is, why can't you admit you ed up?

[TeyshaBlue]

No I actually didn't fail, you just took the wrong economics courses. You are an accountant and not an economist. All your econ course were likely taught by neo-keynesians so you really did not learn anything about economics.

lol..that's ed up.

[Poptech]

The definition of GDP includes and equation that has, as one of its terms, the amount of goverment spending.

I held all other things equal, but made one of the terms for that equation larger.

This means the resulting figure is for GDP, logically, mathmatically larger.

Your statement that the statement was "illogical" is therefore rejected. I find it indicative of a mind that cannot see past its own biases. That is the curse of being intelligent enough to rationalize things.

As for the amount of economics courses you have taken: Good for you.

Yes I realized they taught you this nonsense. Yes using your abstraction that does not relate to the real world you are correct.

So where does the increased government spending come from if not from private capital? Does it materialize out of thin air?

The government only has effectively three places it can get money to spend,

1. Taxes come from private capital
2. Borrowing comes from private capital
3. Inflating the currency which devalues private capital

The net result is all the same, except the government is an inefficient intermediary so the net result will be less capital.

A simple analogy of stimulus:

Capital is a swimming pool. The government is a drunk guy with a bucket, he goes to the deep end and fills the bucket up. He now walks (not too steady) to the shallow end spilling water all over the place and dumps what is left in the shallow end. The swimming pool now has less water in it but the drunk guy with the bucket tells everyone he is putting more water in the pool.

[ElNono]

Yes I have taken econ courses by Keynesians and Austrian economists.

lol Austrian fairly tales

[Poptech]

Ah yes, the "wrong" economics courses.

All I need to do to see how right YOU are is to take the "right" economic courses, because it is obvious that I have never been exposed to all sorts of economic theory and made up my own mind.

I just need to "do my research". twooferville, here I come.

Do you have any 2 hour videos you want me to watch?

You can take whatever courses you want.

Actually believe it or not I have 6hrs worth of video you can watch. It was on PBS so you can relax,

[ElNono]

Here's a couple more relevant videos:

[Poptech]

lol Austrian fairly tales

You do know Hayek was an Austrian economist?

Here's a couple more relevant videos:

FYI there are only two of those videos from econstories (eliminate the middle one).

[Winehole23]

Actually believe it or not I have 6hrs worth of video

thanks for supporting public TV

[Th'Pusher]

thanks for supporting public TV

[Poptech]

thanks for supporting public TV

I don't, PBS should support itself. I'm just stating it ran on PBS,

Commanding Heights: The Battle for the World Economy (PBS)

Ratings are effectively meaningless to PBS as the only way to "support" them is to donate money to them. I've never donated money to them so I don't "support" public TV.

[Th'Pusher]

Yes I realized they taught you this nonsense. Yes using your abstraction that does not relate to the real world you are correct.

So where does the increased government spending come from if not from private capital? Does it materialize out of thin air?

The government only has effectively three places it can get money to spend,

1. Taxes come from private capital
2. Borrowing comes from private capital
3. Inflating the currency which devalues private capital

The net result is all the same, except the government is an inefficient intermediary so the net result will be less capital.

A simple analogy of stimulus:

Capital is a swimming pool. The government is a drunk guy with a bucket, he goes to the deep end and fills the bucket up. He now walks (not too steady) to the shallow end spilling water all over the place and dumps what is left in the shallow end. The swimming pool now has less water in it but the drunk guy with the bucket tells everyone he is putting more water in the pool.

Please tell us all of the countries or civilizations that have practiced strict Austrian Economics? The answer is none. Same goes with capitalist markets. There aren't any. Why do you think that is? Just another Libertarian living in a fairy tale utopia. Maybe you should look into that island.

[Th'Pusher]

I don't, PBS should support itself. I'm just stating it ran on PBS,

Commanding Heights: The Battle for the World Economy (PBS)

Oh but you do support them. And you have no choice but to support them

[Winehole23]

I don't, PBS should support itself. I'm just stating it ran on PBS,

Commanding Heights: The Battle for the World Economy (PBS)

Ratings are effectively meaningless to PBS as the only way to "support" them is to donate money to them. I've never donated money to them so I don't "support" public TV.

You're boosting their signal on Spurstalk. Keep up the good work!

[ElNono]

You do know Hayek was an Austrian economist?

Of course.

lol Austrian fairy tales

[Poptech]

Please tell us all of the countries or civilizations that have practiced strict Austrian Economics? The answer is none. Same goes with capitalist markets. There aren't any. Why do you think that is? Just another Libertarian living in a fairy tale utopia. Maybe you should look into that island.

Appeal to popularity. I already told you why, emotional beliefs in economic fallacies. I do not believe in the possibility of a utopia neither do libertarians, which is why I support Austrian economic theory.

[Poptech]

Of course.

lol Austrian fairy tales

Do you support the videos you posted or disagree with them?

You still have duplicate videos #2 and #3.

[Poptech]

Oh but you do support them. And you have no choice but to support them

Through taxes yes (for now). Personally, never.

Defund PBS

[Th'Pusher]

Appeal to popularity. I already told you why, emotional beliefs in economic fallacies. I do not believe in the possibility of a utopia neither do libertarians, which is why I support Austrian economic theory.

Well tell you what. Once your friends get the libertarian Island up and running, I'll evaluate how effective the economic theory is in the real world. Until then, I'll stick with what has been proven.