Theory of money and credit . Ludwig von mises
Economy books, macro-economic outlook for amateur investors?
- Thread starter katrx84
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Good if you're interested in 19th Century economics or if perhaps you are a caveman trying to survive in the 21st century.
you mean free market economics. these are economic principles that are timeless.. unless peoples nature completely change.. which if you believe that we have changed you really are naive
Perhaps his name is a misnomer. Should it have been von "Misses"? His thinking does properly present that of the 19th Century however, and as such I could recommend it to those interested in the history of economics, or those who want to return to the 19th Century.
I have heard my Economist Mentor, criticize the economics of the mid twentieth Century as having be taken over by would be applied mathematicians, much to the detriment of Economics, which is a branch of Social Science.
Something I am in the mood to mention that most of us do not know; perhaps you do. I certainly did not until I became a serious student of economics. There really is no traditional Nobel Prize in Economics. In modern times, a Scandinavian Bank decided that they would fund a Prize in honor of Alfred Nobel, no doubt with the encouragement of a few well-known, vocal economists who were looking to cash in. They called it "The Nobel Memorial Prize in Economics." It seems the Bank got the Swedish Academy to go along.
Both this Nobel Memorial Prize and the regular Nobel Prizes have become, as you say, highly political. And that's an understatement! There is no question, however, that most of the winners have been deserving. It's just that there are others equally worthy that will never get the prize because the politics are not right. Future selection of awardees is heavily influenced by those who won in the past. From time to time, an award that appears to be bordering on the ridiculous has been made, such as the one for Peace awarded to Obama. The Academy would do well to simply skip years in which they can't find a truly worthy candidate, or, as there are many worthy recipients who have died, start awarding posthumously by donating the prize money to a related cause in the name of the deceased.
Yet you, of all people, would benefit, as "the Fat, Orange One" would say, "Tremendously," by sticking your nose in this one, "Central Banking 101" by Joseph J Wang.
Nah, his "Economic Calculation in the Socialist Commonwealth" has never really been refuted. In fact, if you've ever worked in the state/Federal gov't (or for it as a contractor), you've seen all of the problems he mentioned multiplied many times over.
Indeed, I've seen the same problems in private industry. Particulary, it seems, when the funding source is government. Then, I think these problems are even worse. Our most Socialist institutions are all military related and includes the VA, Again the corruption and waste is quite likely as bad, if not worse among private contractors to these agencies of government.
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No thanks I'll just keep trading and occasionally jab the know-it-all academics.
J. J. Wang.
