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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: HB who wrote (36409)	11/16/1998 1:09:00 PM
From: HB	Read Replies (1) \| Respond to of 132070

Correction on Laffer: he does have a PhD in Economics....(eom) I'm guessing Thurow might, too.... So maybe the distinction has to do with whether they are tenured professors at major economics departments? -g- Krugman, of course, gets to define major.

To: HB who wrote (36409)	11/16/1998 3:18:00 PM
From: Mike M2	Read Replies (3) \| Respond to of 132070

HB, Ludwig von mises is considered to be the father of the modern school of Austrian economics. The austrian school was first launched by Carl Menger in his " Principles of Economics" in 1871 . One of his students Eugene Bohm-Bawerk further developed the school in his "Capital and Interest" . Mises was a student of Bohm-Bawerk and his great achievement was " The Theory of Money and Credit" -many austrians refused to accept mises breakthrough in the theory of money and business cycles. Fredrich von Hayek was a follower of Mises who concentrated on developing Mises insights into a systematic business cycle theory. The Keynsean school emerged as the dominant theory in part because few economists read German and Mises " Theory of money and Credit " was not translated into English until 1934 by Lionel Robbins author of " America's Great Depression" . Mises had anticipated the Great depression in the late 1920's. I'll post a url to a Mises site and a Hayek site later. Do not listen to Austrian detractors like da Mythman he is foolish and impatient -g- . Mike ho ho ho

To: HB who wrote (36409)	11/16/1998 10:49:00 PM
From: Don Lloyd	Respond to of 132070

(...Was also looking for something by Hayek or von Mises the other day when I bought Krugman's book, but they didn't have anything...) Try laissezfaire.org for Laissez Faire Books and a monthly catalog. For the quickest possible overview of Austrian Economics try 'Austrian Economics For Investors' by Mark Skousen, $9.95, 50 pages. Also points to several much more complete books, including untranslated quotes and footnotes in German, French, other unrecognized European languages and Latin. My years of high school Latin and French have finally paid off after 35 years, as I can recognize those languages. -g- Regards, Don

To: HB who wrote (36409)	11/16/1998 11:02:00 PM
From: Knighty Tin	Respond to of 132070

HB, The simplified key to Austrian economics is credit growth vs. real economic growth. If these two factors are in balance, you have a balanced economy, and low or no inflation in assets or goods and services. That is very simplified and you might want to read Kurt Richebacher for MUCH more detail, as he is the top Austrian extant today. All crashes, inflationary and deflationary, are caused by monetary loosey-goosiness and excessive credit. If all I had heard about Krugman was what Epstein said, I could believe you. But Coby has copied some of this pearls of wisdom here and it was pretty silly stuff. Like, what happened in Asia cannot happen here because, though he predicted the capacity and asset glut in Asia, he can't see it his own front yard. He also seems to think that the conditions today are the same as they were in 1987, which is nonsensical. And that was from an article he wrot in the Wall Street Urinal, not an Epstein quote. So, he may have some good ideas, but there is a lot of crap in his theories, too. MB