I also find it frustrating how often Austrians claim "by definition" - "inflation is up by definition" 1/
-
-
"an economy can't get stuck by definition", etc. etc. shows there's a terminology mismatch. 2/2
1 reply 0 retweets 0 likes -
Replying to @wycats @michaellnorth
this article sums up my position best, and may clarify some of the disagreement https://mises.org/library/does-depression-economics-change-rules …
3 replies 0 retweets 0 likes -
re: terminology mismatch, I agree, it's part of why both sides can talk past each other. So to clarify,
2 replies 0 retweets 0 likes -
maybe a better way to say it is, an Austrian would say that "idle resources" aren't a bad thing.
1 reply 0 retweets 0 likes -
they would say the term "idle" is tendencious, and that in reality, "idle resources" are actually being deployed
1 reply 0 retweets 0 likes -
in exactly the way the resource owner wants them to.
1 reply 0 retweets 0 likes -
Replying to @samselikoff @michaellnorth
honestly, this article is reminding me why I can't stand Austrian writing. "My opponents are simpletons 1/
1 reply 0 retweets 0 likes -
who misunderstand basic facts, that's why they disagree with me". It's driving me batty. 2/2
1 reply 0 retweets 0 likes -
Replying to @wycats @michaellnorth
yah.. I don't think the other side is innocent of this but I don't like it. try to ignore the ad hominems.
10 replies 0 retweets 1 like
Krugman repeatedly said that household indebtedness was a problem and needed to be deleveraged.pic.twitter.com/GypH3c9KFg
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.