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| Joe | Posted: Jun 28, 2010 - 14:24 |
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 Level: 8 CS Original | I know that many of you find flaws in the Austrian School of economics. But when it comes to this guy; I do not get it. How does cutting spending lead to a Depression? Does what happened in Greece debunk this guy? | |||||
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| Agent Matt | Posted: Jun 28, 2010 - 14:29 |
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 Genuine American Monster Level: 70 CS Original | Why didn't the author of this article just say "I hate Krugman" because that's all I got out of it. | |||||
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| Joe | Posted: Jun 28, 2010 - 15:41 |
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Level: 8 CS Original | I am just saying I can not understand the concept of trowing moniey around. I makes as much since as paying off a cridet card bill with another cridet card. I know I do not have any background in economics but I can not understand his logic. | |||||
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| Energy Turtle | Posted: Jun 28, 2010 - 15:48 |
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 Level: 1 CS Original | Try reading up on Keynesian economics. I don't have the time or inclination to explain it to you. | |||||
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| Edward L Winston | Posted: Jun 28, 2010 - 17:17 |
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 President Dwayne Elizondo Mountain Dew Herbert Camacho: porn star and five-time ultimate smackdown wrestling champion! Level: 150 CS Original | >> Try reading up on Keynesian economics. There's a reason countries that follow proper Keynesian economics don't see depressions or hyperinflation. Of course, Austrians blame the business cycle on Keynesian economics, but we can see from the massive list of panics and depressions prior to when we began adopting Keynesian economics in the US as evidence that even if it does cause the business cycle, it's better than run on banks where entire communities lose every penny they have overnight because the bank goes under. | |||||
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| Alton | Posted: Jun 28, 2010 - 18:25 |
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Level: 1 CS Original | What I don't like about these type of Austrian economists advocates is their pro-centralization approach on how government should handle money when economics is really broader than that. I think the idea that Government cutting spending will lead to a depression revolves around money for things such as unemployment, welfare, and Government department jobs, which can be affected where you have less people being able to purchase things, pay bills, etc. But in my opinion, it will probably just cause a period of recession at most. Austrian economic advocates mostly argue against Keynesian economics for causing inflation and budget deficits. | |||||
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| Joe | Posted: Jun 29, 2010 - 20:15 |
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Level: 8 CS Original | Well anyways I really hope there is not going to be a Depression. Because most of the people that will be killed or hurt; will be a police officer just doing thier job or some poor basterd with a meason bumber sticker on the back of thier car. | |||||
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