Did you know that during the Salem Witch Trials, nobody was actually burnt? Everyone was hung instead. No burnings. Although there was one person who got crushed to death, that's still not burning.
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Remember Kids: If it mucks up once and doesn't apply to all situations, it's garbage and should be thrown out.
Remember kids, if an ideology fails, its because it wasn't that ideology in the first place or whatever. The fact is that Greece has had 5 years of austerity and its not working. The UK has had 2 years of austerity and its not working. The Irish has had 4 years of austerity and its not working.
I'm sorry, I can't accept that Austrian Economics is viable in the Modern Nation State and I'm sorry that I am dicking on something you believe in but I can't ignore 4 or 5 years of both subjective experiences and objective data.
The fact is that Greece has had 5 years of austerity and its not working. The UK has had 2 years of austerity and its not working. The Irish has had 4 years of austerity and its not working.
Which really means that it isn't the right ideology for this situation.
Ideas are tools, You don't perform open heart surgery with a sledgehammer.
And people refuse to acknowledge this because it's inconvenient to their personal interests.
Economics in general, and Macroeconomics in specific, relies heavily on broad generalizations, sacrificing accuracy for usability. As such, any one model can't work 100% of the time.
Which really means that it isn't the right ideology for this situation.
Ideas are tools, You don't perform open heart surgery with a sledgehammer.
And people refuse to acknowledge this because it's inconvenient to their personal interests.
Yes I know its the wrong ideology to use but people like the IMF are obsessed with Rand and Friedman because they believe that economic liberalisation brings Political liberalisation. Except the opposite has happened in Europe, increased economic liberalisation has called forth an European Democratic Winter.
Also, people have been convinced that austerity is the only game in town which means that the Austrian model is going to be associated in Europe for a while as a bad thing.
This is why we should let Economists do economics, not laypeople and politicians who are used to things like Physics or Biology where one rule always works the same 100% of the time, and things are generally intuitive.
This is why we should let Economists do economics, not laypeople and politicians who are used to things like Physics or Biology where one rule always works the same 100% of the time, and things are generally intuitive.
Yeah, except Economists are generally not in electable positions
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8usy day.
i get so angry sometimes i just punch plankton --Klinotaxis
#austrianeconomicsfail
I'm sorry, I can't accept that Austrian Economics is viable in the Modern Nation State and I'm sorry that I am dicking on something you believe in but I can't ignore 4 or 5 years of both subjective experiences and objective data.
Which really means that it isn't the right ideology for this situation.
Also, people have been convinced that austerity is the only game in town which means that the Austrian model is going to be associated in Europe for a while as a bad thing.