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Thanks Eusdaiki, you are quite right. A google search produced this link http://www.amazon.com/Triumph-Nerds-Robert-X-Cringely/dp/B00006FXQO It is Triumph of the Nerds. As to your other point, it is an Austrian contention that freedom of movement, including the crossing of borders should...

Well, hmmm... Where to begin; perhaps by examples of what is not a free market. What you call a free market still appears to me to be an invitation to plunder, and a closed invitation at that. There existed no mechanism to divest itself of assets when the pure socialist economy of Russia...

Raul641 the points in your last post are well taken. ideologically a free market works perfectly but in the real world it is problematic. A search for remedies to economic inequalities has to come from some perspective--but which? Mercantile patronage? Marxist central planning? Keneysian...

So A and B conspire to form a monopoly and satisfy their interests at the expense of all others, and in the process distort the market. Hardly new or unexpected. The question seems to be whether a truly free market is possible. Probably not. Is it a worthwhile objective? Yes.

The idea of calling an auction where one bidder shows up, who in all likelihood was a front man for the entity holding the auction, a free market is absurd. During the collapse of Russia's political system it is hardly surprising that chaos was the order of the day and your characterization of...

Thanks for the links Hydroblunt. Interesting reading, although very grim. From what I can see so far ideas that any Austro-libertarian economist might have presented to Pinochet were thoroughly ignored. The results of monetarist policy combined with Hayek's so-called benevolent dictator...

OK. I'll bite. What did he tell Pinochet and when did he tell him? I've been Googling and don't find much as a direct reference to Sennholz and Pinochet. Lots of CIA, Nixon, etc.

Or one whose only response to ideas that don't match his own is to smear the author

Some thoughts on Milton Friedman and monetarist ideas http://www.mises.org/story/2414

Absolutely right. For anyone interested in a good description of what the Austrian theory is as it relates to inflation and the business cycle the link is to a chapter of a book written by Murray Rothbard. It takes about forty five minutes to read and sums up the theory and the logic behind...

Quite true. When gold coinage was the currency it was debased by alloying it with other metals to make the real supply stretch farther. The Hollywood image of a pirate biting a gold coin is an illustration of a simple test that people of the time used to check a coin's purity, pure gold coins...

pardon me?

To address the original premise of this thread, which is "what is the monetarists criticism of the Austrian theory of the business cycle?" The Austrian school holds that the booms and busts associated with the business cycle are caused by the implementation of monetarist policies. To agree with...

Seems right to me. I had my identity stolen and the first clue I had that it had happened was when the voice on the other end of the phone said,"this is so-snd-so with the Criminal Investigation Division of the IRS" Needless to say he had my complete attention right away. At the end of the...

In the context that the negative effects of inflation caused by the increase in new gold is reduced or even reversed by increases in efficiency of the economy and the overall tendency for prices to decline as supplies of goods grow, does increase purchasing power over time. An increase in the...

Strictly speaking, yes. It is an oversimplification to say that the purchasing power of gold will not go down with an increase in supply. Inflation of the money supply is inflation of the money supply whether it is paper or metal. But as the producers of new money inflate the supply, they are...

Excellent question. It is true that an increase in the volume of gold money is in fact an inflation but the key distinction here is that as the volume of gold increases it tends to drive prices down, thereby increasing its purchasing power. Increasing the supply of paper money has exactly the...

Most who object to the Austrian School believe in Keynesian interventionism, where the government and central bank attempt to influence the economy by stimulating with cash infusions to reach some desired outcome. Austrians think that a free market that operates without interference will...

Switzerland has become the world's second biggest source of carry-trade credit after Japan as hedge funds and banks borrow tens of billions to lend elsewhere, especially in Eastern Europe....In 1998, the yen strengthened from nearly yen130 to yen110 to the dollar in just two days after Russia's...

That means she is #2 in line for the presidency.