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Global Skywatch

vociferously ignorant

Murray Rothbard“It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’
But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.”
― Murray N. Rothbard

Keynesian Economics postulates that adding more money made up by the bankers out of thin air to the pool of existing money is a good thing. “It stimulates the economy”. That there are special people who can fiddle with everybody else’s money, and that everyone benefits from the fiddling.

As you can imagine, this idea is very popular with the fiddlers.

They employ Keynesians in government posts, including college, university and public school professors of economics. It is a closed group. Austrian economists are very definitely not welcome.

But once a student takes the red pill of Austrian Economics, the other side is quite clearly an illusion that feeds the beast. The pulling back of the veil opens up a whole new world, or more properly, another view of the world we all live in. We can then see more what, why and how of things that previously didn’t make a whole lot of sense.
prancing in the daisies
Many, like me, aren’t so convinced that this knowledge, this view, is to be highly recommended. After all, prancing through the poppy fields is a happy place, while our view has some very dark aspects. Yet the daisy-pickers live at the whim of a really ugly master, who has some extremely unpleasant plans for the flock.

Lew Rockwell may have described Austrian Economics and its fit in our world well in this speech: Why Austrian Economics Matters.

Mises Institute certainly has introductory, overview and a university-level education in REAL economics waiting for anyone who is interested.

The free market is like gravity. It can be resisted, but will have its way.

That is to say that the Keynesian economic balloon will fall to earth. The shocked and dismayed passengers won’t have seen it coming or know why it happened. They will simply believe what the manipulators tell them. Their ignorance makes them ripe for the picking, ready to be harvested.

Maybe that will be a happy place, but I doubt it.