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Can free market macroeconomics be summed up in three words?

Recs

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October 18, 2010 – Comments (15)

My microeconomics, econometrics, public finance, international debt, energy and ecology, and computer based modeling economics classes all teach me stuff.  But as far as my macro textbooks, its mostly measuring inflation, unemployment, GDP, and figuring out the IS/LM curves and the demand for money, etc.  Basically, its all Keynesian stuff.

Would a free market capitalism economic textbooks be two covers with the words "Leave everything alone" as the only three words on the inside?  What else is there to learn about it?  Its that simple, right?

15 Comments – Post Your Own

#1) On October 18, 2010 at 3:04 AM, HarryCarysGhost (99.70) wrote:

Don't tread on me!

Damn, that was four words.

What about-

Flat tax.

Uugghh, only two words.

Live free or die( 4 )

Ok it's late, since I need to come up with a three word slogan I'm going with-

Bud

weis

er.

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#2) On October 18, 2010 at 3:04 AM, BillyTG (29.20) wrote:

That's some serious classes.

+1 for the three-worded summary

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#3) On October 18, 2010 at 9:41 AM, Seansonfire (39.87) wrote:

"Trickle Down Economy"

Sean

+1 Rec

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#4) On October 18, 2010 at 10:53 AM, EnigmaDude (92.69) wrote:

WTF

OMG

LOL!

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#5) On October 18, 2010 at 11:32 AM, Valyooo (99.37) wrote:

"Watch for anthrax"

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#6) On October 18, 2010 at 11:33 AM, JaysRage (89.01) wrote:

Fear, Greed, Profits

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#7) On October 18, 2010 at 12:20 PM, whereaminow (21.10) wrote:

No Central Planning

JaysRage,

Fear = Primary tool for government control

Greed = See this

Profits = Essential component of economic calculation

David in Qatar 

 

 

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#8) On October 18, 2010 at 12:24 PM, whereaminow (21.10) wrote:

Valyooo,

I highly recommend Rothbard's History of Economic Thought.  If you truly want to know how we got to our current state of economic ideas, both on the pro-liberty and pro-intervention sides, it's a fascinating read.

David in Qatar 

  

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#9) On October 18, 2010 at 1:06 PM, Valyooo (99.37) wrote:

I have about 10000 books to read, but I will definitely read that eventually.  But my question in the original post was serious. Is there anything to learn in macro?

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#10) On October 18, 2010 at 1:17 PM, Brent2223 (31.53) wrote:

You learn why to "leave everything alone".

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#11) On October 18, 2010 at 3:19 PM, whereaminow (21.10) wrote:

But my question in the original post was serious. Is there anything to learn in macro?

I can't answer that. When I took college micro, from a non-free market economist, even he told me that macro economics was worthless.

I will say this.  Most economic theory is fraud.  It's not theory, but a regurgitation of the manipulations of bankers and bureaucrats, theorized upon, and then interned as good. 

David in Qatar 

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#12) On October 18, 2010 at 4:23 PM, TDRH (99.66) wrote:

Guns and butter.

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#13) On October 18, 2010 at 4:24 PM, TDRH (99.66) wrote:

The Invisible Hand

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#14) On October 22, 2010 at 3:18 PM, zymok (< 20) wrote:

It's all mine.

 

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#15) On October 22, 2010 at 3:29 PM, bg11235 (28.77) wrote:

Nobody really believes in leave everything alone. Certainly not the US Republican party. Not Adam Smith. Not Burke. Nor any other of my favorite "conservatives." I think the only people I've really heard say leave everything alone is a few heavily theoretical wool gatherers at the American Enterprise Institute. If there's pride and scarcity, and there always has been, there's war. It there's war even a minimalist government suddenly has a large role in the economy. But if we're not going to leave everything alone, shouldn't we at least try to know what we're doing? Granted economics is always as much political rhetoric as science, even when its purely quantitative. (Being quantitative is one of the most effective forms of rhetoric.) But anarchy and pray (or not pray, if you choose)? Even Rousseau, the grandaddy of modern anarchy, said we've already come too far as political beings for that.

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