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About abskebabs

  • Rank
    Señorita Butt Monkey
  • Birthday 04/23/1988

Profile Information

  • Location
    Birmingham, UK
  • Interests
    It's hard to pin down, my interests are constantly changing, or evolving would be a better word. I like anything that challenges me.
  • College Major/Degree
    studying theoretical physics
  • Favorite Area of Science
    Physics, Mathematics and Economics!
  • Occupation
    don't have one[too lazy!]
  1. I want to reply to this post specifically and may come back to reply to others when I have time. First of all you have misconstrued what kind of science economics is. It pays no attention to what factors or characterisations one can make in order to explain why man acts in a certain way. This is the task of psychology, not economics or praxeology. It rather, starts off from the notion that man acts, hence has a set of ends ranked in terms of preference or urgency taken as a given, and wishes to apply whatever means he may find to achieve these ends. This is not controversial and has f
  2. There are numerous advantages, but what I think is the chief one is its consistent application of a logical method of deduction to produce the theorems of Economics from very basic notions implicit in the concept and nature of action in the real world. This naturally may sound very contentious and nonsensical, to those with a positivistic view of science, as it did to myself when I first encountered them. The following is a set of easy to read sources that I think provide a good example of how this method of elucidation is actually utillised. At best, it may give you an idea of where I'm
  3. lol what on earth kind of military spying spam is that?

  4. And I find your responses uneducated and wilfully ignorant. The procedure chosen for the scientific investigation of bodies of knowledge and phenomena has a dependence on the nature of that which is under investigation, not the other way round. Hence the failure of J.S. Mill's attempt to create a foundation of logic as an "empirical science." Hence also the failure of the Milton Friedman's project to establish Economics as an empirical science, since you correctly state there are no measurable constants, and to even think such assumptions of constants and idealisations the Austrians DO NO
  5. Your criticism of the terminology I used is certainly interesting. I used the word "crucial", since I thought by implying that these companies were "too big to fail", you were essentially implying that this was a problem; since due to their size, their survival was crucial to the functioning of the economy. If this is not the case, then am I correct in ascertaining that you are utillising the word "big", in a purely neutral, descriptive sense? If so, then I'm puzzled as to what the problem of letting these firms collapse is. On your second point: You are again correct in pointing out
  6. No, of course not, I cited moral hazard as an extra causal factor not the main one, and I replied to iNow in your earlier thread because he misconstrued what i said. The main factor is the distortionary effect that credit expansion through the Federal Reserve and the fraudulent fractional reserve banking system have on the development of capital structure and industrial organisation. I published an article on this forum back in February explaining both that you might want to have a look at: http://www.scienceforums.net/forum/showthread.php?t=42329 Many of these Wall Street banks th
  7. If you're talking about the bailiuts and the redistrbutional Cantillon effects benefitting bankers and their main industrial clients as the ones who first receive new credit; for once I can entirely agree with you. This should never have been allowed to occur and at once we should get rid of central banks and legal tender laws to get rid of this facist favourite picking system.
  8. Interesting, especially since you're often the first to often correctly claim that current conditions do not in any way resemble that of a free market, yet you still use our experiences of government intervention in the monetary sphere as your obvious "proof" of the failure of the free market. How "scientific" of you.
  9. Not sure what you mean. Apart from the situation of states and "public property" that is effectively owned by no one, companies are exclusively owned by entrepreneurs or exclusive ownership is split into portions delineated among shareholders. Disputes are then settled between parties accordingly by the settlement according to contractual agreements between individuals, i.e. between creditors and stockholders. Individuals may act in groups but catallactic action like all others is vitiated by individuals, and dealt with accordingly. There is no mythical "group right", and I think you m
  10. Libertarians support the defense of individual property rights and prevention of the violation of voluntary contracts. If that means coming on the side of the employer, employee or consumer so be it.
  11. I think I possibly should have said the "continental" meaning of the word as opposed to the specific spanish, thoug valid reference. My point was that the word liberal having socialist or social democratic connotations is only a comparitively recent phenomenon, hence the distinction between its orignal conception that is labelled classical liberalism and what is often referred to as social liberalism. Liberalism originally was a doctrine advocating the defence of individual and property rights in the form of advocating freedoms both economic and social, from arbitrary trespass on the p
  12. Interesting that Libertarian is positioned as a characteristic of the left, I would have thought it to break the entire left-right paradigm since libertarians reject both the warfare and the nanny state. Also unsurprising is the lack of acknowledgement that liberal actually means quite the opposite of what is meant in the UK and US in the Spanish speaking world, and also the English speaking world of the past(check out Bastiat, Molinari and the classical liberals).
  13. Depends what you mean by science. If you mean it has nothing relevant to say about the real world that is nothing more than the collection of arbitrary opinions on a certain subject, I entirely disagree. I can only slightly sympathise, as this was my opinion before engaging in a study of the subject myself. The concepts of psychic profit, loss and marginal utillity are defined in the very concept of action in the real world in the first place, in the sense we cannot reason it to occur without them. Again without reading the subject, it's very easy to dismiss it out of hand. I urge you
  14. Equally, I find your responses to demonstrate very little critical reasoning or thought with regard to the concepts under discussion. You're right we entirely disagree. I brought up mercantillism precisely to respond to your claims about credit being the alleged lifeblood of the economy; a treacherous half-truth at best. You seem to miss the point that liquidation would have brought about massive deflation erasing much of the previously created artificial credit, so losses in real terms would not have actually been that high, given the drop in money supply. Indeed this is part and parc
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