The whole theory behind 'stimulus' comes from Keyne's elitist belief that individuals have "animal spirits" and therefore can be manipulated by "super duper smart, very educated people" to spend, spend, spend!
People see enough of these signs in their neighborhoods and everything is honky dory. Capital starts flowing again and consumers go out and max out their credit cards - happy days are here again!
Only in 'academia'
face)(*^%
People see enough of these signs in their neighborhoods and everything is honky dory. Capital starts flowing again and consumers go out and max out their credit cards - happy days are here again!
Only in 'academia'
face)(*^%
Austrian Economics is a libertarian thing, and yes we believe in the science behind global warming/climate change, and yes I even believe that man has contributed.
The difference between libertarians and social democrats, is that we view science the way it's supposed to be with reason, "a never ending quest for the truth", while social democrats (progressives) view science with emotion, like it's a religion. I don't approve of environmental hysteria, and think it does more harm than good.
We also have differences in how we tackle it, the social democrat thinks the way to solve things is through regulation and control. Which is a joke, trying to control human behavior has not really worked on anything. The libertarian believes in the free market approach, you know, the free market that uses science to fight science with new technologies, that are actually solving the problems in this world.
