link: http://ift.tt/1Smftqj
Hot And Trending...
Trending
- It's a myth is that breaking a shopkeeper’s window will ultimately boost the economy. http://bit.ly/2x6ibKK
- #Macy's stock price is down over 40% in the past 3 months on weaker sales. This supports my forecast for a weak holiday shopping season.
- To save the stock market while pretending the "recovery" in still on track, the #Fed used low oil prices as its excuse to turn more dovish.
- Malinvestment and the Austrian Business Cycle, as explained by Yogi Berra
- If #Trump really wants to reduce America's trade deficit he needs to slash regulations and massively reduce government spending, including entitlements. That will free up resources to investment in plant, equipment and worker training that will improve our global competitiveness.
- Had the same 2% inflation assumption used to calculate Q1 #GDP been applied to Q2, the reported growth rate would have been just 1.6%!
- 2008 Was Just a Tremor; The Real Economic Earthquake Is Coming https://t.co/SQo6W8cDxA @SchiffGold
- Production is declining and this is going to put an enormous amount of pressure on prices down the road. http://bit.ly/2ilUyqo
- SRSrocco sees the potential for a 40-50 million ounce production decline in 2017. http://bit.ly/2z34sZf
- Ep. 282: Hurricanes Rain On Market's Parade: http://bit.ly/2f1E46a via @YouTube
Sunday, April 24, 2016
Monkey's Paw Economics --- steal this book title
I was [thinking](http://ift.tt/1SmfqL3) about Mises's values-free approach to policy and economic-advocacy, ie: suitability analysis, which he undertook so successfully in Austria as a policy analyst in his various capacities, and there occurred to me a good popular-analogy to explain this approach. Suitability analysis of Austrian economics shows the disconnect between means and ends, and is very similar to the popular trope of the [Monkey's Paw](http://ift.tt/1SmfqL5), or another way to put it is [Be Careful What You Wish For](http://ift.tt/1AOGqXu). It is through suitability analysis that we can show two things, both how and why the means of the mainstream cannot achieve their policy ends, and secondarily what ends a policy is in fact likely to achieve and thus often make the very problem worse that was aimed at being improved or solved. I think with this analogy we have a good hook into the mind and interest of the average reader, and this theme could be developed strongly for a popular audience with the kinds of examples that Austrian economists have long developed over the years. But, as I am not credentialed and otherwise busy, I hope one of you will be inspired by this and take it up. Cheers :)