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Monday, December 28, 2009

Economics

I thought I would post something about economics.
My initial influences in economic theory came from UMNO, Adam Smith and Edmund Burke. They generally advocate free exchange, elimination of trade barriers and so forth. But as far as systematic economic theory goes I am largely a proponent of what has been called the 'Austrian' school of economics, which I became acquainted with through the Ludwig von Mises Institute website. Since then I have found other 'non-Austrians' I agree with, such as Brian Caplan and David Friedman, but the core of my views are still Austrian.
As a science, the Austrians argue that economic science is a priori or deductive in nature; that the basic existential facts of individual values, scarcity and so forth allow us to form apodictic laws of economic science which can not be refuted by empirical claims. It also criticizes numerical and especially 'model' schools of economics as being methodologically invalid and even meaningless.
The Austrian school is strongly associated with American and British libertarianism, who tend to advocate statelessness or near-statelessness to be replaced by market mechanisms and institutions of private property.
I am also influenced by Geoism (Henry George is one of the men in my blog banner) and Mutualism and, in a more involved way, syndicalism.

Hans Hoppe - Praxeology: The Austrian Method


The Banksters Unmasked: The Austrian Theory of the Business Cycle


The Impossibility of Economic Calculation Under State Socialism


Geoism

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