President Barack Obama Message Board

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Politics : President Barack Obama

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To: RetiredNow who wrote (114337)	5/29/2012 11:45:55 AM
From: koan	Read Replies (1) of 149317

<<Sure and Austrian economics has improved with it. It's just that Keynesianism is in favor right now. That will continue until it all blows up. Then Keynesianism won't be in favor anymore. Everything moves in cycles. There are a group of economists considered to be the best and the brightest by the academic world. Those are who I listen to. Austrian economics is typical right wing fare/dogma. Just more pure capitalism nonsense. Here is an excerpt. The most democratic socialistic countries on earth like Denmark and Sweden are also the happiest societies. Mises: "Undeterred, Mises turned to the problem of socialism itself, writing a blockbuster essay in 1921, which he turned into the book Socialism over the next two years. Socialism permits no private property or exchange in capital goods, and thus no way for resources to find their most highly valued use. Socialism, Mises predicted, would result in utter chaos and the end of civilization. mises.org Keynes thought Mises was a clown.

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