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Socialdem. 21st Century

Academic Agent versus “Adam Friended” on Price Inflation and MMT

Academic Agent has got into another row on MMT, but this time with someone called “Adam Friended.”In brief, “Adam Friended” responded to Academic Agent in the following video on the issue of MMT and price inflation:[embedded content]Academic Agent then produced this response on MMT here:[embedded content]Academic Agent is correct that Covid welfare payments and furlough schemes were not the fundamental drivers of inflation in some goods. It is also true that the Western world is far from...

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Reply to Academic Agent on Austrian Economics and Price Rigidity

Academic Agent lost a bet to me on Twitter and was forced to respond to my post here on Austrian economics and the reality of relative price rigidity. He has now produced two videos in this debate.Here is Academic Agent’s first video response to my post:[embedded content]Before he uploaded the video, I predicted that his video would contain the following:(1) he would misrepresent the actual theories of Austrian economics;(2) he would attack straw-man misrepresentations of my post;(3) he...

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Austrians and Full Employment

In this video, the Austrian libertarian “Radical Liberation” claims that “full employment” is not a term used in Austrian economics:[embedded content]While it is true that Austrians rarely speak of “full employment” (which is a very low level of involuntary employment, and does not mean zero unemployment) as a policy goal, the claim that Austrians do not think in terms of the concept of “full employment” is actually rubbish, because Austrians just use expressions such as the “no involuntary...

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21h - Segunda - 05.10.2020 LORD KEYNES, O NEW DEAL E O STIMULUS MANIA CANAL CONHECIMENTO É PODER! Correspondente Rio de Janeiro - Tatiana Moura VÍDEO - 0975 - LIVE - 775 ---------------------------------------------------------------------------------------------------- HD 250GB - CANAL CONHECIMENTO É PODER! 1000 VÍDEOS (MP4 / 720p / 1080p) HD 250GB -...

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Relative Price Rigidity and Austrian Economics

The purpose of this post is to examine and provide a critique of Austrian price theory, and in particular the Austrian denial of relative price rigidity in the real world.In the Austrian economist Ludwig Lachmann’s book Capital, Expectations, and the Market Process (Kansas City, 1977) there is a section where Lachmann reviews John Hicks’s book Capital and Growth (Oxford, 1965).The significance of Hick’s discussion is described by Lachmann:“Two other matters of great significance are dealt...

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Friedrich Hayek – Sobre Lord Keynes (Leg Pt-Br)

Friedrich August von Hayek foi um economista e filósofo austríaco, posteriormente naturalizado britânico. É considerado um dos maiores representantes da Escola Austríaca de pensamento econômico. Nascimento: 8 de maio de 1899, Viena, Áustria Falecimento: 23 de março de 1992, Freiburg, Alemanha Formação: Universidade de Viena (1923), Universidade de Viena (1921), Universidade de Nova Iorque Influenciou: John Maynard Keynes, Milton Friedman Influenciado por: Ludwig von Mises, Adam Smith, Karl...

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