Please name a functioning economy with applied Austrian economic principles.
You have to love liberal economics.
- Thread starter Max E.
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Please name a functioning economy with applied Austrian economic principles.
One definition (https://en.wikipedia.org/wiki/Austrian_School ) is that If a functioning economy is using the Austrian "A Priori" or "non-empirical " methodology then it's employing Austrian economic principles , I really wouldn't know who is or isn't I haven't done a study .
The Austrians are solving for more market freedom - less government interference and more freedom which also leads to more innovation.
Progressives are solving for more government control - regulation which in turn means less choice-freedom (oppression) and leads totalitarianism.
Which also then brings in the whole morality issue.
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The only ideology that competes with hitler in the last century for death toll is communism. Thankfully When Stalin starved 25 million people oil prices were not low or it might have been much worse, if Mao, or Stalin or Castro, had to deal with low oil prices, communism might have failed.
Nice non-sequitur you got there
Yeah, when left wing institutions talk about throwing money out a window, its irrelevant to point out the track record on communism.
I am well aware of Austrian economic principles, what I wanted to know is whether there are any functioning economies that rely on those principles. Anybody can make up a theory, question is whether it works in real life.
Also, why solve for 'freedom', economic questions should be solved for efficiency and utility, 'freedom' is a political concept and has nothing to do with economic principles. Same for morality.
I always had a hypothetical question in mind for libertarians. Say a company produces a drug that is carcinogenic in the long run but hides this fact from consumers due to lack of regulations over such matters, how would it be moral for a government to ignore this and let their citizens die for 'economic freedom'.
Left wing economics is not same as communism, just like nobody calls conservatives Nazis just because both are right wing ideologies.
The world's fastest growing economy is a communist one, the biggest state economy in the country is California governed by leftists. Where are the conservatives? Alabama? Mississippi? Kansas? Tennessee? Alaska? If your side's economic policies are so great, why can't you do something about your own shitholes first?
Actually you just created an entire thread claiming right wingers are the same as isis.
Seemed to be a parody of another ludicrous thread about Detroit I want to say
Ah, nvmnd
https://www.elitetrader.com/et/thre...w-leftist-paradise-venezuela-is-doing.313974/
No, I correctly stated that ISIS are right wing religious conservatives - they just happen to have a different religion and location while having the same ideology. Muslims in general are extremely conservative and if you look around the world, it's always conservatives fighting each other over religion/location/traditions.