I also find it frustrating how often Austrians claim "by definition" - "inflation is up by definition" 1/
ok so here's the nut of it. Do you believe that irrational consumer anxiety *doesn't exist*?pic.twitter.com/uYpe32JjnB
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it's why I asked about Ariely earlier.
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it exists, question is did it cause the recession. why so many houses all of a sudden? who's loaning all this money?
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why don't lenders who make bad loans go bankrupt, and other lenders become more risk-averse?
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so the end of the article (wisely) avoids making short-term predictions, but it's from 2009 and more or less 1/
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assumes inflation, poor reductions in unemployment, etc. But that isn't what happened.
End of conversation
New conversation -
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