"Economics deals with society's fundamental problems; it concerns everyone and belongs to all. It is the main and proper study of every citizen."
Ludwig von Mises
mises.org
A central question to this thread: "Is fiat money a successful medium of exchange?". History points to lots of problems. Would a fully backed medium of exchange, where all money is solidly backed by assets such as gold lead to a better way of life for both the USA, Europe and the rest of the world?. Some think the answer to the question is so obvious it's trivial. "Old fashioned" currency just would not work today. They also point to shortcomings like it "reduces growth potential". Others point out that assets like gold can be exchanged using modern methods, and that there are potential catastrophic scenarios for the worlds fiat currencies.
goldmoney.com
Schools of Thought
newschool.edu
Every school of thought is like a man who has talked to himself for a hundred years and is delighted with his own mind, however stupid it may be.
(J.W. Goethe, 1817, Principles of Natural Science)
The only way we can pull the general economy out of todays swamp is to first agree what the problems are and then decide on the correct solution.
There is only one solution. The best one. It's time to make economics a real science where people don't just argue over B/S.
A handy film to watch by Paul Grignon
brasschecktv.com
I am interested in a new science "Econophysics". Pareto is my hero.
cepa.newschool.edu
Nobody can argue with his work. It's been true for centuries. In every country for every economy.
newscientist.com
ezinearticles.com
en.wikipedia.org
The (n)th rule of trading: There are no rules.
there's people of means who give. The campuses and hospitals all across the world are full of buildings with plaques ... DJ
btw (1): "trollers" and "drive by posters" are welcome here. Compared to standing on a real soap box and talking to a real crowd this internet stuff is TAME.
btw (2): If you are looking at the CDE chart below remember to look at the 10 year chart as well.
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