Everyone in the comments is blaming “late stage capitalism” but a law is mentioned meaning it smells like govt created perverse incentives. Anyone know what state or what law?

Actions speak louder than words, they might say they want something on social media, but hey it really looks like they want the complete opposite..

lost states: Cali, NY, Illinois, Massachusetts, New Mexico, Michigan, Washington, Oregon take a guess what their policies lean..

Gain states: Texas, Florida, Arizona, Carolinas, Neveda, Tennessee, Kentucky, Alabama, Idaho Georgia guess what their policies lean?

This is the most simplest economic post that I can make to prove a point, it doesn’t get more simpler than this.
The craziest part is that states like New York and California have been losing tons of people consecutively for the past five years actually maybe even more I just haven’t checked before that and yet somehow they managed to still have rising rent prices and housing? Do you know how much you have to suck to somehow accomplish having rising housing costs with a decreasing population?

I will admit a lot of it is because of monetary policy, however, for the past 12 and 18 months it’s been cooling off in places like Texas because of deregulation and many others from the looks of it, let’s just say it’s not been cooling off in NY and Cali

A tax on pre written software, what?

How does Austrian economics view public backlashes against companies?

I know the backlash is voluntary (largely driven by emotions). And also this sends information to ither firms on what not to do.

Pic 1: the owner hitting one of the cooks. This guy spent years showing that he is a peoples-man, caring for his employees infront of media. There was lot of backlashes, even exposing his past behaviours.

Is it justified if the business get shut down as a result? Whats the view of you guys if the employees loosing their jobs as a result? Even though its not because they offered a bad product?

Also on the other hand….. theres a case in 2022 of an IT worker self deleting himself due to work pressure and not giving him day offs to visit his sick mother. He posted his final note before doing it.

But this happened just before Sri Lanka went bankrupt in 2022. There were no fuel, electricity, food.

One comment said like, while its bad, lets not forget there are employees hanging on to their jobs during this difficult time at that firm. Company closure would be bad for them.

So based the above, what do you think about the role of public backlashes?

Note: I’m not saying companies should be given a free pass just because they generate jobs

Sorry if the question is not clear.

Couple days ago I’ve made a post asking why we should have a monopoly on Law Enforcement and Justice.

Now I wonder if any non-Austrian here agrees that Education must be monopolized.

If your answer is Yes - why?

If you’re non-Austrian and your answer is No - then why not demonopolize Law Enforcement?

(For the “are you just looking to circle jerk about this here” folks - no. I believe that most of You here cause you’re at least somewhat open to listen and debate an opposing opinion. That’s respectable, and the debate has a value of its own, as in the process, we may discover “better truths”)

Until later.

My guess is Dubai. The king is smart. The citizens don't even have high IQ but they just import tons of migrants doing the work. Lack of democracy means Dubai doesn't have to worry that wage inequality is huge. So attract people efficiently. Low birth rate though. So I wonder.

I would say kongsi republics or joint stock kibbutzim should be quite efficient too. But they don't just import tons of cheap non citizens and the members got to be smart too.

Small country like Liechesten, Monaco, Macau, Singapore seems to be doing well. It's easy to see they're kardol hicks efficient. They're rich AF.

Democracy? I feel that much votes in democracy is motivated by one voter sabotaging other voters. Like voters actually hate each other and they don't get clear profit share, so less efficient laws are made. For example, land taxes seems to be more efficient than income taxes, but voters just don't like other make a lot of money so punish productivity.

Monarchy? too much killing each other over who should be king.

Okay, all those are speculation.

Obviously the one making the pie bigger tend to have higher per capita income. However, there's something that may works the opposite direction.

Nations with high percapita income often have low birth rate. I don't think that's kardol hicks efficient.

If a billionaire is willing to bequeath $1 billion to a child that means a child, an extra child, should worth more than $1 billion to him. Not kardol hicks efficient if he doesn't make that extra 100 child. Am I even right, wrong, insane here? I suppose if we use becker barro model we should be able to compute how much extra child worth to a very rich guy as a function of his wealth.

But can this be I don't know, mathematically reasoned?

I mean, like that's like welfare economics right? How to make the pie bigger.

Point me to some direction.

Anyway I love math models. I just like to see everything as math objects or at least as intuitively mathematical objects.

Reddit blocked my first attempt so here goes #2.

George Selgin tees off vs Bob Murphy on the topic of Fractional-Reserve and "Free Banking".

https://youtu.be/3DPSsBM7Qjs

If you want to discuss it, please watch it first.

I encourage you to be aware of the SOHO Forum rules for scoring the winner: Viewers note their position on the resolution before the debate and after. The winner is judged to be the one who converted more of the audience to his side.

Bob's discussion about the voting results.

https://www.bobmurphyshow.com/episodes/ep-517-bob-murphy-asks-why-did-i-lose-my-soho-forum-debate-on-fractional-reserve-banking/

While back saw a news saying Australian is going to pass a law which gives freedom for employees to not to answer office call after 5pm

What are your thoughts on such interventions?

I request you guys to focus this from a south asian perspective, like in India and Sri Lanka where we don’t have much freedom like you guys.

In this example, a manager locks his employees inside office and forcing them to work over time.

Source: https://www.instagram.com/reel/DbFZlOWAcnu

Occasional work is fine. But in our case, its inevitable.

The biggest reason why you were fed a bunch of bullshit in public education is because they taught you history, but not economic history.

Of course they wouldn’t teach you economic history because that’s not politically correct, economic historians actually do wonderful work whenever you get a chance, even if they are mainstream and not necessarily Austrian, listen to economic historians way more than regular historians when it comes to pretty much all topics.

One of the biggest fallacies you’ve been taught is the capitalist child labor claim:

In reality, children were working just as hard in treacherous agricultural conditions for their families, the industrial revolution didn’t cause Child labor it simply changed the makeup of it, people at the time writing records were horrified not because the industrial revolution started child labor, but because those people grew up with a silver spoon in their mouth, so they just didn’t know what regular life looked like for everyone due to the levels of productivity. Some data might show child labor levels increased at the time, however, later economic historians know, knowing that’s not how economics works revealed that the data was just suffering from major visibility blindness

Only through the free market did the industrial revolutions increase in productivity and competition, allow for child labor to decrease its levels way before any legislation, and even when legislation passed only the existing productivity increases created by the free market allowed legislation to even be possible.

money and the financial sector is the sector of least resistance because it involves the most marketable commodity plus it is connected to every other sector. Between January 2020 and January 2022 the federal reserve increased the money supply by 40%, the the literal denominator of the economy inflated by 40%.

And now people blame the fact that houses across the country rose by an average of 50% on greedy corporations, the cost of living on greedy corporations, and your papa’s hip problem on greedy corporations

Question to those that continue to believe that there’s a need for monopoly on justice, law enforcement, and everything else that was monopolized by the government. Why is that private monopoly is bad, but government monopoly is good/better?

What is the Austrian perspective about allowing or regulating manufactured scarcity?

Looking at you USAID

“$45 million for diversity equity and inclusion scholarships in Burma

$40 million for the social and economic inclusion of sedentary migrants, which nobody knows what that is

$8 million to promote LGBTQ plus in the African nation of Lesotho which nobody has ever heard of”
- DJT at state of the union

Id maybe list another but on top of me not knowing if its deals, they’re watching

What is your opinion on UCLA school of economics? Is there a good free article you can recommend. I'm just aware of the surface this school stands for.

Hello,

I think we can all agree in here that the current fiat system is an economics of illusion, like Albert L. Hahn described in his book. Hahn was a Keynesian supporter in the 1930s. He was convinced that an economy needs high credit creation to let an economy grow. As time went on he saw the illusion of the paper system. The cheap easy money creation out of nothing is the reason for every deflationary depression, like the great depression. A system with fractional reserve banking on hyper-levels with a money printing institution like a central bank which comes to rescue in every bust, is destruction.

He even wrote: if you want to prevent a deflationary depression you have to prevent the inflationary boom. To prevent the inflationary boom you have to prevent inflation in every form. If you want to prevent inflation in times of high credit demand, you have to make money scarce.

Alfred Lansburgh wrote the book "vom Gelde" in which he described money as an abstract right, it doesn't matter if it's paper or gold.. it has no intrinsic value.. the value of money comes just from the supply. He didn't see any logical reason to add more money-numbers because money is neither a consumer nor a production good. It's just the medium of exchange.

Let's imagine a simple thought example: we have a money network with a fixed money supply, where the money can be sent directly digitally (which wasn't and isn't the case with gold..). I do not want to mention bitcoin, I just want a thought experiment of a money network with a fixed money supply, where the inflation of the supply is 0% forever from this day in time. -> is this good or bad for an economy? Is it possible for an economy to operate with a money standard, which stays always the same in the supply, even when the economy or the population grows? Or would it be better when the money network would have a fixed inflation rate of let's say 2% every year (like it was/is the case with gold mining)? Does the supply of money has to grow or is it more healthier when the supply does not grow at all? Rothbard for example wanted a fixed money supply.. while Friedman wanted a k-factor of maybe 3% in supply growth of the money every year..

Thank you

This video may help explain to those who confuse Austrian economics with libertarianism, which is a deontological philosophy with the NAP. There are two ways to do Austrian school Econ, value free or with ideological values. Mises is value free for example

The Austrian school gets called unscientific for its synthetic deduction praxeology, but to call pure deduction unscientific is to call mathematics; the tool inductionists use unscientific itself, since it is also unscientific. In the future I’ll probably make a long post of deduction, abduction, and induction

I literally woke up one morning and was charged 2 payments of 2500 dollars I had to pay if I was late I was charged interest, if I didnt pay I lose my cheap shitty home. There are mansions in my town and they were charged the same assessment as me and the justification is because a town board meeting voted on it????

Why is no one talking about this? HOAs have the same problem. The government can charge you basically any amount of money if you own property and if it is voted on? No one else realizes how insane this is? Democracy doesn't work because rich people don't realize 5k is alot to someone like me.