Dusty Bake Activate
Fukk your corny debates
Reason enough to not take anything you say seriously. The corpse of Austrian economics was pretty much ground into dust by around 2010.
2016 HL WPOY Nomination Thread
- Thread starter tru_m.a.c
- Start date
Reason enough to not take anything you say seriously. The corpse of Austrian economics was pretty much ground into dust by around 2010.
David_TheMan
Banned
How was it ground into dust in 2010, and by whom?
JahFocus CS
Get It How You Get It
So where are all the people who talk about "blacks shouldn't use any systems not native to Africa" when dudes are in here embracing a system named after a country in Europe?
He may be a contender but the competition is fierce as FUKK for WOAT. I don't think he's the favorite this year or even in the top tier for it by any means
Is anything he said that much worse than what @DEAD7 has been saying for years?
@DEAD7 is Ben Carson's son.
Free market, my ass. More like fascism.
Dusty Bake Activate
Fukk your corny debates
@CACtain Planet should be the early frontrunner. I don't know how his name has managed to slip under the radar with his litany of shytty, utterly incoherent posts.
"Black people should be conservative because Malcolm X was conservative...
Hillary Clinton won the black vote because Black Lives Matter yelled at Bernie Sanders...
Richard Nixon was a civil rights warrior, and Democrats are the real party of racism...
I'm voting for Donald Trump because he's masculine"
I wonder if that idiot is just an elaborate troll sometimes.
@CACtain Planet should be the early frontrunner. I don't know how his name has managed to slip under the radar with his litany of shytty, utterly incoherent posts.
"Black people should be conservative because Malcolm X was conservative...
Hillary Clinton won the black vote because Black Lives Matter yelled at Bernie Sanders...
Richard Nixon was a civil rights warrior, and Democrats are the real party of racism...
I'm voting for Donald Trump because he's masculine"
I wonder if that idiot is just an elaborate troll sometimes.
I think you should be nominated as WPOY honestly, your easily the worst poster around here..Nobody gave a fukk when a few years ago you declared that you wouldnt come to higher learning anymore..shyt didnt miss a beat, actually shyt was better..should just delete yourself from life
Dusty Bake Activate
Fukk your corny debates
By the world economy.
TLR style shyt posting has been creeping into other forums for awhile now and to that I say welcome to my world. 
David_TheMan
Banned
And how did the world economy kill the austrian school
MrSinnister
Delete account when possible.
Austrian school of thought produce a lot of waste, which slows economic power and growth. Recent developments have been the complete failure of quantitative easing to try to stop companies from naturally falling and failing due to the enormous amounts of waste they produce, while paying people more for their labor would remove it.
This shyt is just common sense. The lower your collective wages are, the quicker you reach your saturation level. It's why a no minimum wage policy will ALWAYS fail an ecomomy. When a few companies start falling you will feel the temptation to lower wages, which is a huge mistake. The solution is to let companies come out of the ashes of the failures, which we don't do anymore, and the power of the wages help them to grow to fill the gap quicker. You simply have to pick a minimum and fair wage, and never go under it...ever.
Quantitative easing and Operation Twist are just programs used by central banks to buy waste. A true proponent of economies would be to create as little waste as possible. You do this by having as many people as possible be able to afford things, especially when they're working for the same companies that produce the most waste.
David_TheMan
Banned
How does Austrian school of economics produce waste, when the basic theory is let the market decide what should be on the market and what shouldn't.
If you want to go into how the market is a faster producer consumer feedback system than central planning and beaurocrats we can do that as well.
Austrian economics doesn't support QE though, that is Keynesian economics. Forcing low interest rates and rewarding malinvestment and creation of bubbles is also Keynesian economics, so your first paragraph as it applies to Austrian economics makes no sense.
You say you are talking common sense, then you spout things that make no sense.
The lower your collective wage, the quicker you reach a saturation level for what, will you explain this.
You say no minimum wage will always fail an economy, but you've yet to explain how it can lower the collective wage, for lets say the US, where the minimum wage is only a salary for less than 4% of the work force. At worst if every minimum wage position dropped, it would account for a neglibable amount of society as a whole to effect the wages, at best you would see higher employment and theoretically higher wages in total. so please explain your assertion a better.
You say a few companies start falling, yet without a minimum wage when the demand for a product falls and the supply stays the same the price drops, this would exist whether minimum wage was present or not, its economic reality. The solution is to steal other people's money in taxes and give it to someone politically connected and showed they couldn't run a company and give them a second chance? That logically makes no sense to me, when the very process of a company failing, if it is a result of the market is the removing of a wasted resource from the market (but here again you are contradicting yourself when you make the early comment about waste).
All that said, non of it has anything to logically or economically do with your closing point about minimum wage. The market should be allowed to decide what is minimum wage without any outside intervention if you want efficiency (you know since you claim you hate waste). Fair wage is determined by the workers who agree to a job and salary, if they agree its fair to them, when it becomes unfair they typically leave or don't accept.
JahFocus CS
Get It How You Get It
Always funny to see liberals argue with people to their right
MrSinnister
Delete account when possible.
Have you really ever wanted to buy a product once it was placed on clearance? I have for clothes, as the person wearing then maintains the value rather than vice versa, but by the time any electronics and other things go to clearance, the company has already been announced to be suffering and need intervention. Thus, as supply changes price, the demand craters with it. You can't expect the free market to set minimum wages. You have a lot of shaming and propaganda to have workers take the lowest wages possible.
The minimum wage was 3.35 in the 80's for fukks sake, even when there was record numbers of cash flow, and you were all but priced out of New York City outside of subsidizes.
Yes, Keynesian models rely on the optimization of interest rates, and intervention to promote growth. It doesn't most of the economic power into the maker/producers like Austrian models, which makes waste more inevitable. Keynesian adjustments are to interest rates so the flow of money can enter the market at more controllable level to halt inflation or provide inflation to avoid stagnation.
David_TheMan
Banned
Yes I've bought something on clearance.
That said supply doesn't change price, demand dictates price.
If no one wants what is being sold it doesn't matter how little of it is around you as a producer are at a loss. Same token doesn't matter how much of it is produced if there is no demand you are still at a loss. so your contention that supply changes price is wrong. Demand dictates where you are on the supply curve with relation to pricing.
Yes you can expect the free market to set wage and minimum wages, it already does for positions that have salaries over the minimum wage starting, so your claim is wrong.
No shaming or propaganda used at all by me. If a worker wants to work at a certain price he should be allowed to.
What does minimum wage in NYC have to do with my argument? Nothing.
Most of the economics world and every western nation practice keynsian model, not the austrian method of economics. So you are factually wrong on that claim. Keynesian argue for the elimination of market feedback which leads to waste, money printing (inflation), and constantly when exercised leads to prolonged bouts of stagflation (japan in the 80s) (US in the 70s) or rapid booms and gains followed by bust they usually prolong with methods that delay hard market resets and correction.
Misanthrope
None of the above '16
Why do you say that a job that pays slightly over minimum wage now, would continue to pay the same amount if minimum wage was removed? Is there a reason why a job that's at $9/hour or 125% of minimum wage would stay at $9 an hour, instead of following the market and staying at 125% of the lowest wage paid in that particular market?