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Does Dr. Novak read whereaminow's CAPS Blog?

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March 31, 2009 – Comments (6)

I realize this is ridiculously self-promoting and a bit in the flavor of alstry, but you have to admit that  his criticisms of Dr. Drew Weston's commentary on Obama and mine are incredibly similar.

Dr. Novak:

I interpret this as your granting license to use propaganda to convince the people that free-market capitalism is to blame for the current situation, and that divisive politics should be used to make the case against the market. Is that your intention?

whereaminow:

So far, I gotta hand it to Drew Weston. He's much more subtle and polite in his methods of manipulation than Rush Limbaugh, though the intent is the same.

Dr. Novak: 

There is ample contrary historical evidence that shows that Hoover and the Republicans were actually quite a bit more involved in the affairs of the economy than supporters of the New Deal realize.

whereaminow:

I can look up the policies of Hoover and Reagan and clearly see that Weston is lying. Far from being hands off, Hoover dove right in and, just like his successors, made one mistake after another. It's called the pre-New Deal.

Dr. Novak:

Some of the best evidence I've come across is America's Great Depression by Murray N. Rothbard. If you have not had a chance to read it, I highly recommend it as a fascinating and insightful book. In this work, Rothbard shows that FDR simply extended policies put in place by Hoover — after running on a platform for decreased spending and less government interference.

whereaminow:

Again, for those interested, here is a free PDF of Murray Rothbard's fantastic book America's Great Depression.

Dr. Novak:

For example, we most certainly would not have the Federal Reserve System if we had free-market capitalism. We would not be at all concerned over a few hundred million dollars in bonus payouts to AIG employees. This is because AIG, in a truly free system, would have been regulated by the market straight into insolvency and bankruptcy last fall.

whereaminow:

You will find that Federal Reserve policy created the boom, led to the bust, and along with government intervention, prolonged the recession that turned into The Great Depression.

Dr. Matthew J. Novak is a senior optics research engineer at the University of Arizona, College of Optics and apparently also a fan of my work :)

Shameless, I know.

David in Qatar

6 Comments – Post Your Own

#1) On March 31, 2009 at 1:25 PM, whereaminow (30.26) wrote:

The obvious implication here is that Austrian School Economics is as easy for the common person (myself) to understand as it is for the advanced scholar.  It's appeal is universal. I hope those who have not investigated what Mises/Hayek/Rothbard/Ron Paul have to offer will take a look at the Mises Institute website and investigate their views.

http://www.mises.org

David in Qatar

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#2) On March 31, 2009 at 1:59 PM, outoffocus (23.35) wrote:

Just as long as you dont start "whereaminownomics" I'm good.  Just kidding.

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#3) On March 31, 2009 at 2:28 PM, alstry (36.12) wrote:

Hey....are you guys poking fun at Alstry??????

He is very sensitive you know....especially during these challenging times.

By the way, the fact that he was conferred with the first honorary Doctorate of Alstrynomics should make us all proud.

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#4) On March 31, 2009 at 2:30 PM, whereaminow (30.26) wrote:

LOL at alstry. how can u not love this guy?

David in Qatar

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#5) On March 31, 2009 at 4:27 PM, binve (< 20) wrote:

whereaminow, a little self-promoting is never a bad thing. And while we are promoting I wrote a book that you are sure to love, its called ....

... just kidding :)

I totally agree man, mises.org has tons of good info. Speaking of being Austrian-minded, do you ever read "Unqualified Reservations" the blog by Mencius Moldbug? His blog is extremely interesting (although it is a bit out there sometimes / fairly often). But he is always entertaining. He is a Computer Scientist who likes to look at issues from an almost diagnostic point of view. I first started reading him in September when he wrote several excellent blogs about Fractional Reserve Banking and Mises Banking. Here are a few links below and they are all very good reads.

Maturity transformation considered harmful: an unauthorized biography of the bank crisis
http://unqualified-reservations.blogspot.com/2008/09/maturity-transformation-considered.html

The Misesian explanation of the bank crisis
http://unqualified-reservations.blogspot.com/2008/10/misesian-explanation-of-bank-crisis.html

 

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#6) On April 03, 2009 at 11:51 AM, OldEnglish (28.27) wrote:

David, thank you for the PDF link of Rothbard's book. It's one I've wanted to read for some time. Has anyone noticed how many professional economists are Austrians relative to their miniscule numbers?

Professional economist: A person who makes his living by accurately predicting future value. e.g. Jim Rogers

Amateur economist: A person who makes his living telling fairy tales to school children. e.g. Paul Krugman 

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