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	<title>Comments on: Are the Austrians Too Harsh?</title>
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	<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/</link>
	<description>Proceeding Ever More Boldly Against Evil</description>
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		<title>By: Stephen Grossman</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748991</link>
		<dc:creator>Stephen Grossman</dc:creator>
		<pubDate>Mon, 03 Jan 2011 20:13:23 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748991</guid>
		<description><![CDATA[&gt;Rand (a thoroughgoing white supremacist)

America is basically rational, not basically a race.]]></description>
		<content:encoded><![CDATA[<p>&gt;Rand (a thoroughgoing white supremacist)</p>
<p>America is basically rational, not basically a race.</p>
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		<title>By: Stephen Grossman</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748979</link>
		<dc:creator>Stephen Grossman</dc:creator>
		<pubDate>Mon, 03 Jan 2011 19:18:14 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748979</guid>
		<description><![CDATA[Ideas come from philosophy, not ethnic groups.]]></description>
		<content:encoded><![CDATA[<p>Ideas come from philosophy, not ethnic groups.</p>
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		<title>By: Jordan Viray</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748978</link>
		<dc:creator>Jordan Viray</dc:creator>
		<pubDate>Mon, 03 Jan 2011 19:15:54 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748978</guid>
		<description><![CDATA[We can revert to the bad old days when the Medievals, wanting to avoid interest, would tack on insurance/transport/&quot;late&quot; fees when they lent money. The old arguments against interest (usury) have been thoroughly debunked but the inertia of the initial prohibitions still influences ultraconservatives today.]]></description>
		<content:encoded><![CDATA[<p>We can revert to the bad old days when the Medievals, wanting to avoid interest, would tack on insurance/transport/&#8221;late&#8221; fees when they lent money. The old arguments against interest (usury) have been thoroughly debunked but the inertia of the initial prohibitions still influences ultraconservatives today.</p>
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		<title>By: Leon Haller</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748947</link>
		<dc:creator>Leon Haller</dc:creator>
		<pubDate>Mon, 03 Jan 2011 17:13:56 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748947</guid>
		<description><![CDATA[Not quite. I think liberty would be good for nonwhites, too. But I want those alien peoples to remain in their own countries, and not be allowed to invade and colonize mine.]]></description>
		<content:encoded><![CDATA[<p>Not quite. I think liberty would be good for nonwhites, too. But I want those alien peoples to remain in their own countries, and not be allowed to invade and colonize mine.</p>
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		<title>By: Leon Haller</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748946</link>
		<dc:creator>Leon Haller</dc:creator>
		<pubDate>Mon, 03 Jan 2011 17:12:07 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748946</guid>
		<description><![CDATA[Again, the stupidity quotient is unbelievable! LOOK AT VOTING PATTERNS! LOOK AT SOCIOLOGICAL STUDIES OF IDEOLOGICAL AFFILIATION! ONLY whites support capitalism, limited government, low taxes, private property rights, gun rights, etc. If you are arguing against that statement, then you have lost your argument, as you do not know empirical reality. 96% of blacks think Obama is doing a good job  - this as of Nov 1 of 2010. They approve of the work of the most Marxist president in history. What more needs to be said?

Let&#039;s throw out a question. What is more important: preserving private property, or being PC (not being &#039;racist&#039;)?

Suppose I demonstrated that ALL nonwhite populations in the US support socialism by large majorities, but that whites opposed socialism by an equally large majority. Would you then agree that the cause of liberty in the US would be furthered if nonwhites could be persuaded to leave the country? Would you agree that liberty would be furthered by keeping additional nonwhites (immigrants) out of the country?

The free market in the US has declined directly in tandem with the increase of the nonwhite population - and, yes, that correlation is also causation. No Democrat president has won a majority of the white vote since 1964  - yet they have won titanic majorities of ALL nonwhite groups (including Jews, Grossman - your people supported the Marxist Muslim by 78% - unconscionable!).

I am really shocked at how leftist-brainwashed you people are. Really. I&#039;ve always had a low opinion of libertarians, but the older generation, like Rand (a thoroughgoing white supremacist), Rothbard and Ron Paul, were not in the least &#039;touchy&#039; about acknowledging racial truths. Read some of Ron Paul&#039;s old Reports if you don&#039;t believe me (I have a bunch in hard copy, and I think I should scan them all and post them publicly, just to make sure there is no weaseling about being a libertarian means one has to be against &#039;racism&#039;; the one has nothing to do with the other).]]></description>
		<content:encoded><![CDATA[<p>Again, the stupidity quotient is unbelievable! LOOK AT VOTING PATTERNS! LOOK AT SOCIOLOGICAL STUDIES OF IDEOLOGICAL AFFILIATION! ONLY whites support capitalism, limited government, low taxes, private property rights, gun rights, etc. If you are arguing against that statement, then you have lost your argument, as you do not know empirical reality. 96% of blacks think Obama is doing a good job  &#8211; this as of Nov 1 of 2010. They approve of the work of the most Marxist president in history. What more needs to be said?</p>
<p>Let&#8217;s throw out a question. What is more important: preserving private property, or being PC (not being &#8216;racist&#8217;)?</p>
<p>Suppose I demonstrated that ALL nonwhite populations in the US support socialism by large majorities, but that whites opposed socialism by an equally large majority. Would you then agree that the cause of liberty in the US would be furthered if nonwhites could be persuaded to leave the country? Would you agree that liberty would be furthered by keeping additional nonwhites (immigrants) out of the country?</p>
<p>The free market in the US has declined directly in tandem with the increase of the nonwhite population &#8211; and, yes, that correlation is also causation. No Democrat president has won a majority of the white vote since 1964  &#8211; yet they have won titanic majorities of ALL nonwhite groups (including Jews, Grossman &#8211; your people supported the Marxist Muslim by 78% &#8211; unconscionable!).</p>
<p>I am really shocked at how leftist-brainwashed you people are. Really. I&#8217;ve always had a low opinion of libertarians, but the older generation, like Rand (a thoroughgoing white supremacist), Rothbard and Ron Paul, were not in the least &#8216;touchy&#8217; about acknowledging racial truths. Read some of Ron Paul&#8217;s old Reports if you don&#8217;t believe me (I have a bunch in hard copy, and I think I should scan them all and post them publicly, just to make sure there is no weaseling about being a libertarian means one has to be against &#8216;racism&#8217;; the one has nothing to do with the other).</p>
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		<title>By: Stephen Grossman</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748941</link>
		<dc:creator>Stephen Grossman</dc:creator>
		<pubDate>Mon, 03 Jan 2011 16:52:40 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748941</guid>
		<description><![CDATA[&gt;Why don’t you address the claims I make above?

Your basic claim is racism, which I addressed and refuted. You may correlate ideas and race as much as you please but you will never find causality because you evade the method of finding causality, man&#039;s mind.]]></description>
		<content:encoded><![CDATA[<p>&gt;Why don’t you address the claims I make above?</p>
<p>Your basic claim is racism, which I addressed and refuted. You may correlate ideas and race as much as you please but you will never find causality because you evade the method of finding causality, man&#8217;s mind.</p>
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		<title>By: nate-m</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748936</link>
		<dc:creator>nate-m</dc:creator>
		<pubDate>Mon, 03 Jan 2011 16:40:53 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748936</guid>
		<description><![CDATA[When you say something as dim as this:
&quot;&quot;The ONLY racial group in America who even slightly supports liberty is whites.&quot;&quot;

Then it getting any sort of meaningful response is going to be very unlikely. How many Blacks, Asians or Mexicans have  you talked to about &#039;liberty&#039; or your political viewpoints?  Probably not many (or any) or you wouldn&#039;t of said anything you said.  It&#039;s really very stupid and ignorant statement. 

&quot;&quot;Disappointing as the GOP invariably is, the Democrats today are pure evil (even from a libertarian perspective).&quot;&quot;

George Bush was every bit as &#039;evil&#039; as Obama. The Republican and Democrats really are the same political movement nowadays. I really don&#039;t see any discernible difference besides posturing.  What one party stands for the other opposes as a rule, but they frequently swap positions.]]></description>
		<content:encoded><![CDATA[<p>When you say something as dim as this:<br />
&#8220;&#8221;The ONLY racial group in America who even slightly supports liberty is whites.&#8221;"</p>
<p>Then it getting any sort of meaningful response is going to be very unlikely. How many Blacks, Asians or Mexicans have  you talked to about &#8216;liberty&#8217; or your political viewpoints?  Probably not many (or any) or you wouldn&#8217;t of said anything you said.  It&#8217;s really very stupid and ignorant statement. </p>
<p>&#8220;&#8221;Disappointing as the GOP invariably is, the Democrats today are pure evil (even from a libertarian perspective).&#8221;"</p>
<p>George Bush was every bit as &#8216;evil&#8217; as Obama. The Republican and Democrats really are the same political movement nowadays. I really don&#8217;t see any discernible difference besides posturing.  What one party stands for the other opposes as a rule, but they frequently swap positions.</p>
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		<title>By: Leon Haller</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748931</link>
		<dc:creator>Leon Haller</dc:creator>
		<pubDate>Mon, 03 Jan 2011 16:07:57 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748931</guid>
		<description><![CDATA[Are you really this stupid?! Why don&#039;t you address the claims I make above? I am very disappointed in both the low intellectual quality of the persons visiting this site, as well as in their leftist orientation. The older generations of libertarians were not in the least &quot;anti-racist&quot;.]]></description>
		<content:encoded><![CDATA[<p>Are you really this stupid?! Why don&#8217;t you address the claims I make above? I am very disappointed in both the low intellectual quality of the persons visiting this site, as well as in their leftist orientation. The older generations of libertarians were not in the least &#8220;anti-racist&#8221;.</p>
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		<title>By: Bala</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748930</link>
		<dc:creator>Bala</dc:creator>
		<pubDate>Mon, 03 Jan 2011 16:07:42 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748930</guid>
		<description><![CDATA[I&#039;ve been wanting to ask this for a long time, but what exactly is wrong with lending money at interest? How do we account for time preference if we eliminate interest?

How do you plan to account for us (I am assuming there are others like me) atheists who do not consider religious texts as a source of wisdom?]]></description>
		<content:encoded><![CDATA[<p>I&#8217;ve been wanting to ask this for a long time, but what exactly is wrong with lending money at interest? How do we account for time preference if we eliminate interest?</p>
<p>How do you plan to account for us (I am assuming there are others like me) atheists who do not consider religious texts as a source of wisdom?</p>
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		<title>By: Bala</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748929</link>
		<dc:creator>Bala</dc:creator>
		<pubDate>Mon, 03 Jan 2011 16:04:36 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748929</guid>
		<description><![CDATA[Good joke. I only hope you thought you were joking.]]></description>
		<content:encoded><![CDATA[<p>Good joke. I only hope you thought you were joking.</p>
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		<title>By: Stephen Grossman</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-748927</link>
		<dc:creator>Stephen Grossman</dc:creator>
		<pubDate>Mon, 03 Jan 2011 15:32:59 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-748927</guid>
		<description><![CDATA[&gt;The ONLY racial group in America who even slightly supports liberty is whites.

As Mises stressed, coincidence is not cause. The Germans who supported attacks on liberty under Hitler were white. So what does that mean? And collectivism, whether economic, ethnic, racial, or whatever, is destructive. Man has free will and no innate ideas. Your appeal to race is evil, a rejection of mind for chemicals. You have reduced yourself to a collection of chemicals. Spiritually, youre not human.]]></description>
		<content:encoded><![CDATA[<p>&gt;The ONLY racial group in America who even slightly supports liberty is whites.</p>
<p>As Mises stressed, coincidence is not cause. The Germans who supported attacks on liberty under Hitler were white. So what does that mean? And collectivism, whether economic, ethnic, racial, or whatever, is destructive. Man has free will and no innate ideas. Your appeal to race is evil, a rejection of mind for chemicals. You have reduced yourself to a collection of chemicals. Spiritually, youre not human.</p>
]]></content:encoded>
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		<title>By: mushindo</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-730356</link>
		<dc:creator>mushindo</dc:creator>
		<pubDate>Mon, 11 Oct 2010 07:35:14 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-730356</guid>
		<description><![CDATA[@ Leon Haller:  

Translation: &#039;I want liberty, but only for me and people who think and look like me&#039;.]]></description>
		<content:encoded><![CDATA[<p>@ Leon Haller:  </p>
<p>Translation: &#8216;I want liberty, but only for me and people who think and look like me&#8217;.</p>
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		<title>By: New Darky King in Waiting</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-730046</link>
		<dc:creator>New Darky King in Waiting</dc:creator>
		<pubDate>Fri, 08 Oct 2010 03:45:33 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-730046</guid>
		<description><![CDATA[When I inevitably take control of the USA, to be renamed the United States of Africans, I will have no need of white males and no intention of being your master. I do not believe that the white man has social equality with the darker races, nor will he ever attain it. Therefore, I  will demand that all white males be returned to their native climes of Europe, where they will be more socially suited. But leave the white women. Dey iz hot!]]></description>
		<content:encoded><![CDATA[<p>When I inevitably take control of the USA, to be renamed the United States of Africans, I will have no need of white males and no intention of being your master. I do not believe that the white man has social equality with the darker races, nor will he ever attain it. Therefore, I  will demand that all white males be returned to their native climes of Europe, where they will be more socially suited. But leave the white women. Dey iz hot!</p>
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		<title>By: Leon Haller</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-730042</link>
		<dc:creator>Leon Haller</dc:creator>
		<pubDate>Fri, 08 Oct 2010 03:11:42 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-730042</guid>
		<description><![CDATA[Let me reduce everything to the simplest denominator: Liberty. Liberty is not the greatest political good to me, but I will make it so here for argument’s sake. A bunch of morons (there is no other word, excepting ‘lunatics’) known as libertarians actually think that there is something inimical to freedom in regulating immigration. They are especially horrified when I recommend that we KEEP OUT ALL non-white immigrants (that in itself proves a leftist psychological orientation).

So let’s be simple. Obama is the single greatest threat to both economic prosperity and the long term survival of liberty in the US perhaps in US history. He is undeniably the furthest socialist/Left President. Who elected him (and no, I did not vote for the nearly as awful McCain; I wrote in Ron Paul)? BO’s electoral margin of victory was provided by post-1965 immigrants and their adult descendants (aka “minorities”). If we had had zero immigration since 1965 McCain would be President – and the Congress would be permanently GOP.

The ONLY racial group in America who even slightly supports liberty is whites. This is a fact (I hope no one here denies it, because then the debate is over, and I will have won). Party ID is a rough proxy for gauging commitment to liberty understood to be rooted in property rights (the Rothbard position). EVERY minority group is heavily Democratic, in ID and actual voting. Disappointing as the GOP invariably is, the Democrats today are pure evil (even from a libertarian perspective). So why do idiot libertarians want to increase Democrat numbers by admitting vast hordes of non-white immigrants??!! What insanity – to put ideology ahead or reality!!!!

Diversity is the health of the State. Idiot libertarians might come to understand this after whites have been transformed into a politically powerless minority, one whose new non-white, non-American masters grant them precious little liberty at all.

REPLY]]></description>
		<content:encoded><![CDATA[<p>Let me reduce everything to the simplest denominator: Liberty. Liberty is not the greatest political good to me, but I will make it so here for argument’s sake. A bunch of morons (there is no other word, excepting ‘lunatics’) known as libertarians actually think that there is something inimical to freedom in regulating immigration. They are especially horrified when I recommend that we KEEP OUT ALL non-white immigrants (that in itself proves a leftist psychological orientation).</p>
<p>So let’s be simple. Obama is the single greatest threat to both economic prosperity and the long term survival of liberty in the US perhaps in US history. He is undeniably the furthest socialist/Left President. Who elected him (and no, I did not vote for the nearly as awful McCain; I wrote in Ron Paul)? BO’s electoral margin of victory was provided by post-1965 immigrants and their adult descendants (aka “minorities”). If we had had zero immigration since 1965 McCain would be President – and the Congress would be permanently GOP.</p>
<p>The ONLY racial group in America who even slightly supports liberty is whites. This is a fact (I hope no one here denies it, because then the debate is over, and I will have won). Party ID is a rough proxy for gauging commitment to liberty understood to be rooted in property rights (the Rothbard position). EVERY minority group is heavily Democratic, in ID and actual voting. Disappointing as the GOP invariably is, the Democrats today are pure evil (even from a libertarian perspective). So why do idiot libertarians want to increase Democrat numbers by admitting vast hordes of non-white immigrants??!! What insanity – to put ideology ahead or reality!!!!</p>
<p>Diversity is the health of the State. Idiot libertarians might come to understand this after whites have been transformed into a politically powerless minority, one whose new non-white, non-American masters grant them precious little liberty at all.</p>
<p>REPLY</p>
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		<title>By: Walt D.</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-730003</link>
		<dc:creator>Walt D.</dc:creator>
		<pubDate>Thu, 07 Oct 2010 23:27:48 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-730003</guid>
		<description><![CDATA[In California - check with the County Recorders Office.]]></description>
		<content:encoded><![CDATA[<p>In California &#8211; check with the County Recorders Office.</p>
]]></content:encoded>
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		<title>By: Jordan Viray</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-729756</link>
		<dc:creator>Jordan Viray</dc:creator>
		<pubDate>Thu, 07 Oct 2010 08:02:05 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-729756</guid>
		<description><![CDATA[The idea that we somehow believe ABCT is the only explanation for malinvestment is a gross caricature. But what we do know is that &quot;inflation politics&quot; not only &quot;probably&quot; leads to malinvestment but that it must. And the world is just like that because this is a necessary consequence based on deduction from the axiom of human action. 

The fact that ABCT proves such cycles are necessary in a fractional-reserve banking system does not mean we get precise predictions in the manner of mathematics based empiricist economics. There does not exist and cannot exist a formula to give the timing for the business cycle so your failure to predict the &quot;timing&quot; has no bearing on Austrian theory. It&#039;s a pity you have such a confused understanding of the basis of the theory but thankfully there are plenty of good resources here to redress that.]]></description>
		<content:encoded><![CDATA[<p>The idea that we somehow believe ABCT is the only explanation for malinvestment is a gross caricature. But what we do know is that &#8220;inflation politics&#8221; not only &#8220;probably&#8221; leads to malinvestment but that it must. And the world is just like that because this is a necessary consequence based on deduction from the axiom of human action. </p>
<p>The fact that ABCT proves such cycles are necessary in a fractional-reserve banking system does not mean we get precise predictions in the manner of mathematics based empiricist economics. There does not exist and cannot exist a formula to give the timing for the business cycle so your failure to predict the &#8220;timing&#8221; has no bearing on Austrian theory. It&#8217;s a pity you have such a confused understanding of the basis of the theory but thankfully there are plenty of good resources here to redress that.</p>
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		<title>By: Hayekian</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-729739</link>
		<dc:creator>Hayekian</dc:creator>
		<pubDate>Thu, 07 Oct 2010 06:25:59 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-729739</guid>
		<description><![CDATA[Hey, of course my comment was a little &quot;harsh&quot; ;) but nonetheless i mean it serious. Of course, hayek was a defender of ABCT but later in his life he learned that a single cause explaination might not be sufficient. I agree that inflation politics is most probably leading to malinvestment. but the question whether or not the economy recovers does not solely depend on that variable. 
The world is just not like that: it is not linear, simple, one-cause-explainable and not predictable (the latter we austrian doom-preachers should know by now... for how long do we preach the end days of the monetary system?) ron paul since 1970ies. We were dead wrong about timing, because we didn&#039;t incorporate hayek&#039;s late work, which made him a lot more humble. And those works indeed reflect what i said above. It is a pity that you seem to know only hayek&#039;s early writings

Kind regards]]></description>
		<content:encoded><![CDATA[<p>Hey, of course my comment was a little &#8220;harsh&#8221; <img src='http://archive.mises.org/wp-includes/images/smilies/icon_wink.gif' alt=';)' class='wp-smiley' />  but nonetheless i mean it serious. Of course, hayek was a defender of ABCT but later in his life he learned that a single cause explaination might not be sufficient. I agree that inflation politics is most probably leading to malinvestment. but the question whether or not the economy recovers does not solely depend on that variable.<br />
The world is just not like that: it is not linear, simple, one-cause-explainable and not predictable (the latter we austrian doom-preachers should know by now&#8230; for how long do we preach the end days of the monetary system?) ron paul since 1970ies. We were dead wrong about timing, because we didn&#8217;t incorporate hayek&#8217;s late work, which made him a lot more humble. And those works indeed reflect what i said above. It is a pity that you seem to know only hayek&#8217;s early writings</p>
<p>Kind regards</p>
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		<title>By: Jordan Viray</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-729676</link>
		<dc:creator>Jordan Viray</dc:creator>
		<pubDate>Thu, 07 Oct 2010 00:30:28 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-729676</guid>
		<description><![CDATA[Well, &quot;Hayekian&quot;, Bogart is referring to Japanese government policy of propping up failed banks under the idea that they were &quot;too big to fail&quot; and prevented the &quot;destruction&quot; part of &quot;creative destruction&quot; necessary for economic improvement.

It is absolutely insane to think that the Bank of Japan&#039;s low interest rates could somehow NOT cause malinvestment and retard recovery in the Japanese economy. Now Japanese debt to GDP is approaching 200% thanks to constant government stimulus and bailout. If we do the same, we will incur the same results of slow recovery, structural malinvestment and ever increasing debt.

I&#039;ll assume your moniker is in jest since your thinking does not even remotely approximate Hayek.]]></description>
		<content:encoded><![CDATA[<p>Well, &#8220;Hayekian&#8221;, Bogart is referring to Japanese government policy of propping up failed banks under the idea that they were &#8220;too big to fail&#8221; and prevented the &#8220;destruction&#8221; part of &#8220;creative destruction&#8221; necessary for economic improvement.</p>
<p>It is absolutely insane to think that the Bank of Japan&#8217;s low interest rates could somehow NOT cause malinvestment and retard recovery in the Japanese economy. Now Japanese debt to GDP is approaching 200% thanks to constant government stimulus and bailout. If we do the same, we will incur the same results of slow recovery, structural malinvestment and ever increasing debt.</p>
<p>I&#8217;ll assume your moniker is in jest since your thinking does not even remotely approximate Hayek.</p>
]]></content:encoded>
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		<title>By: F. Beard</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-729605</link>
		<dc:creator>F. Beard</dc:creator>
		<pubDate>Wed, 06 Oct 2010 21:19:41 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-729605</guid>
		<description><![CDATA[Bankers, hypocrites that they are, are all in favor of laissez-faire as long as their government backed cartel is spared.  They howl about &quot;money printing&quot; when every day they leverage 20 or 30 to 1 to create money (credit).]]></description>
		<content:encoded><![CDATA[<p>Bankers, hypocrites that they are, are all in favor of laissez-faire as long as their government backed cartel is spared.  They howl about &#8220;money printing&#8221; when every day they leverage 20 or 30 to 1 to create money (credit).</p>
]]></content:encoded>
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		<title>By: F. Beard</title>
		<link>http://archive.mises.org/14144/are-the-austrians-too-harsh/comment-page-1/#comment-729603</link>
		<dc:creator>F. Beard</dc:creator>
		<pubDate>Wed, 06 Oct 2010 21:16:43 +0000</pubDate>
		<guid isPermaLink="false">http://blog.mises.org/?p=14144#comment-729603</guid>
		<description><![CDATA[&lt;i&gt;I pick Mises.&lt;/i&gt; Inquisitor

These are interesting days.  I predict that the whole concept of lending money at interest (usury) will be discredited.  It&#039;s too bad that Mises with his brilliant mind apparently did not consider what a fellow Hebrew taught 3000 years ago:

&lt;a href=&quot;http://www.biblegateway.com/passage/?search=Deuteronomy%2023:19-20&amp;version=NASB&quot; rel=&quot;nofollow&quot;&gt;Deuteronomy 23:19-20&lt;/a&gt;]]></description>
		<content:encoded><![CDATA[<p><i>I pick Mises.</i> Inquisitor</p>
<p>These are interesting days.  I predict that the whole concept of lending money at interest (usury) will be discredited.  It&#8217;s too bad that Mises with his brilliant mind apparently did not consider what a fellow Hebrew taught 3000 years ago:</p>
<p><a href="http://www.biblegateway.com/passage/?search=Deuteronomy%2023:19-20&amp;version=NASB" rel="nofollow">Deuteronomy 23:19-20</a></p>
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