SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?


To: Steve Lokness who wrote (125680)11/27/2009 11:26:30 AM
From: Mary Cluney  Read Replies (1) | Respond to of 543213
 
<<<Austrians tell you how to stay out of the problem in the first place - Keynesians address the problem after you have ignored the Wisdom of the Austrians. Think of them this way; one is taking your vitamin C and staying healthy so you don't get sick - the other is taking cold relief medicines after you already have come down with the flu or cold.>>>

Look at it another way. Austrians preach a righteous path and Keynesians are economists drawing conclusions from analyzing available data.

That doesn't mean Austrians are not right or Keynesians are omniscient. It is pretty much the same as in all other current debates.

For instance, on the abortion issue, most people universally think it is wrong. However, the Catholic Chuarch having failed to convince everyone that it is wrong wants to eliminate the concept of separation of the role of the Church from the role of State governments and after failure to communicate their teachings are looking for a bailout from governments to punish people who disagree.

I digress a bit but the principles are the same.

One is a moral and philosophic approach and the other is a scientific approach based on actual behavor.

People can't distinguish the limitations and the differences in approach to solving problems.