Does the Austrian school of economics have solutions?

[Galen]

(06-03-2016, 03:04 AM)taramarie Wrote:

(06-03-2016, 02:53 AM)Galen Wrote:

(06-03-2016, 02:42 AM)taramarie Wrote:

(06-03-2016, 02:36 AM)Galen Wrote: I suggest that you start with Rothbard lecturing hist students on why the cartels and the trusts of the late 19th century failed.  After that consider why J.P. Morgan funded the Progressive party in 1912.  One of the big mysteries that Eric the Obtuse will never unravel is why big business in general does not support the free market but Rothbard and Mises understood perfectly well the reasons.

I will observe what is being said as it really does not apply to the NZ govt due to it being American politics. It is actually not the topic that my thread was meant for in the first place and really should be relocated to another area. It amazes me how Americans can turn any subject into a political war zone. Must be exhausting. Luckily my country is not nearly as bad. Numbers of citizens have something to do with that thankfully.

I want you to understand the failure of the attempts to cartelize under lassiz-faire because this process has occurred in all nations at various times in history.  I don't have much material on NZ so this is the best that I can do.  Most Western countries these days are walking down similar paths so many lessons of US history do apply to NZ and the reverse is also true.

I do know that NZ had a much more extensive welfare state in the seventies than they do now and it nearly bankrupted them and so it was scaled back.  The only reason the US has gotten away with it this long is due to world reserve status of the dollar which will probably not last too much longer.  Then the US will have the same sort of problems NZ had only much larger.

Should that not be under a different thread though? What connection does it have to my original topic? That i cannot understand. That is true regarding lessons being learned from other countries failings. Yeah our welfare system changed after national got in in 2008. I am not sure about before that. But it definitely changed after they got in. In some ways it is good as it pushes people to get a job BUT they even force people who have things such as lung cancer to even get a job. Just today i heard about a case like that. It should be for people like him. Someone who is legitimately ill. Or the elderly. But, this topic really needs its own thread. I do not see how it applies to my original topic.

The event I am referring to occurred in the early eighties which is probably before you were born.  I was trying to point out that the methods that work for physics and engineering do not work for soft sciences.  In medicine you can perform double blind experiments but in any realm that covers the human psyche this is not possible in the general case.