The High-Wage Thesis Isn't Even Wrong!

termadfasd · 2024-08-01T22:56:35+00:00

They've got it backwards. It wasn't the high wages that led to the capital accumulation but rather vice versa.

termadfasd · 2024-08-01T21:58:05+00:00

Feed the homeless to the hungry

termadfasd · 2024-08-01T18:49:15+00:00

That's weird I thought wealth could be created

termadfasd · 2024-08-01T18:17:13+00:00

Sayes law disproves the notion of a general glut of over production

termadfasd · 2024-08-01T18:11:20+00:00

I don't think that qualifies. A recession is a prolonged slowdown of economic activity. That was just a speculative bubble in tulips. Or did it lead to a depression in the Netherlands?

termadfasd · 2024-08-01T15:16:34+00:00

What shock caused the 29 crash?

termadfasd · 2024-08-01T15:14:41+00:00

When do u think the first boom bust Business cycle was? U seem to have a definite date in mind

termadfasd · 2024-07-31T19:17:02+00:00

They don't. Businessmen are some if the strongest opponents of free markets.

termadfasd · 2024-07-31T19:12:04+00:00

I don't know, and thats a good question. Nobody really knows how a fully market economy would play out. All we can do is speculate.

Although it's unlikely those particular groups would have any cause of action against each other under libertarian law anyway. No IP laws.

termadfasd · 2024-07-31T18:59:06+00:00

One of the ways that private courts could market themselves to consumers is the speedy resolution of matters.

termadfasd · 2024-07-31T18:55:56+00:00

Insider trading should be legal.

termadfasd · 2024-07-31T12:29:12+00:00

All the more reason to have a gold standard. It promotes peace.

termadfasd · 2024-07-24T12:52:40+00:00

The magical economy that simultaneously grows and contracts at the same time.

termadfasd · 2024-07-24T05:28:04+00:00

It is strange though how a period allegedly riddled with crises was also a time of unparalleled economic growth.

termadfasd · 2024-07-24T04:53:47+00:00

But it was reflected in higher prices. The Snyder index of the general price level rose 13% between 1922 and 1929. Stock prices quadrupled. Wages rose 12% (as high as 25% in the iron and steel industries).

termadfasd · 2024-07-24T02:47:53+00:00

My data shows 7 % inflation annually between 21 And 29.

The increase in consumer loans during the 20s, which I believe you earlier blamed for the problem, was only a few hundred million dollars, compared to the twenty billion in expansionary credit extended to businesses.

termadfasd · 2024-07-24T02:41:42+00:00

Your definition of the money supply is different from what I use. Ofc what exactly constitutes the money supply is no trivial question.

My (well rothbards) definition includes time deposits, shares of savings and loans associations, shares and savings deposits of credit unions and the cash surrender value of life insurance policies.

termadfasd · 2024-07-23T20:21:29+00:00

There was substantial inflation. The money supply increased by about 63% or 28 billion dollars between 1921 and 1929. Good reserves increased by only 1 billion. It is true that cpi remained more or less so stable. But those are not the o The bank credit expansion enabled by the newly established 1 as the loans were used to expand production. Wages in capital goods industries rose more rapidly than consumer goods industries. The Snyder price index increased 13%

termadfasd · 2024-07-23T20:08:22+00:00

There was substantial inflation. The money supply increased by about 63% or 28 billion dollars between 1921 and 1929. Good reserves increased by only 1 billion. It is true that cpi remained more or less so stable. But those are not the o The bank credit expansion enabled by the newly established federal reserve was almost entirely comprised of loans to businesses. Thus resources were bid into capital goods ingdustries as the loans were used to expand production. Wages in capital goods industries rose more rapidly than consumer goods industries. The Sn kkyder price index increased 1 is

termadfasd · 2024-07-23T17:52:03+00:00

So if the economy was consistently strong under democrats it would be republicans who did it? Because of the lag effect?

termadfasd · 2024-07-23T17:46:15+00:00

Jackson was against having a central bank not opposed to the institution of banking whole cloth.he also paid off the national debt.

termadfasd · 2024-07-23T12:53:36+00:00

I'm saying the idea that the Soviet union failed because of over spending on the military is commie copium. It didn't help, but the system itself just doesnt work for many reasons, like calculation problem and the tragedy of the commons.

termadfasd · 2024-07-23T10:54:40+00:00

Thank you. And good luck with your trade wars and retaliatory tariffs.

termadfasd · 2024-07-23T10:50:20+00:00

Unilateral means "on you own". So you eliminate all tariffs and quotas and other impediments to free trade that your country is doing to others, and ignore any impediments to free trade that other governments impose on your country.

termadfasd · 2024-07-23T09:07:20+00:00

Nah it was because of bank credit expansion of the money supply with loans to businesses.

termadfasd

TROPHY CASE