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FatsRedux
10-13-2006, 08:08 PM
Here is a link to "Profit and Loss" by Ludwig Von Mises.

It is my sincere desire to share some rational understanding of the nature of capitalism.

Profit and Loss - Mises (http://www.mises.org/story/2321)

cushioncrawler
10-14-2006, 03:52 AM
The chicago school freidman style of economics set out above is DOGMA -- it is a religion -- it has taken hold of all economics at all levels, at universitys, banks, government -- it is like einsteinian physics, it ignores reality -- it hasnt changed since 1880 -- and, even today, freidman couldnt fight his way out of a wet-brown-paperbag-recession, much less a depression -- if u think that censorship is a problem in religion or government or physics or whatever then u havnt heard of these economic-nazi's.

Giving a nobel prize to freidman was a disgrace -- all paid for by the banks (but they didnt tell u this did they) -- this was the low point for the nobel prize. madMac.

FatsRedux
10-14-2006, 09:06 AM
<blockquote><font class="small">Quote cushioncrawler:</font><hr> The chicago school freidman style of economics set out above is DOGMA -- it is a religion -- it has taken hold of all economics at all levels, at universitys, banks, government -- it is like einsteinian physics, it ignores reality -- it hasnt changed since 1880 -- and, even today, freidman couldnt fight his way out of a wet-brown-paperbag-recession, much less a depression -- if u think that censorship is a problem in religion or government or physics or whatever then u havnt heard of these economic-nazi's.

Giving a nobel prize to freidman was a disgrace -- all paid for by the banks (but they didnt tell u this did they) -- this was the low point for the nobel prize. madMac. <hr /></blockquote>

Actually the Chicago School was founded by Frank Knight. Milton Friednam being the most current adherent.

Mises was a member of the Austrian School of Economics .

There are fundamental differences that separate the two schools of economic thought.

Austrian School economist Murray Rothbard had this to say in his book "Unraveling Milton Friedman":

"One of Friedman's most disastrous deeds was the important role he proudly played, during World War II in the Treasury Department, in foisting upon the suffering American public the system of the withholding tax. Before World War II, when income tax rates were far lower than now, there was no withholding system; everyone paid his annual bill in one lump sum, on March 15. It is obvious that under this system, the Internal Revenue Service could never hope to extract the entire annual sum, at current confiscatory rates, from the mass of the working population. The whole ghastly system would have happily broken down long before this. Only the Friedmanite withholding tax has permitted the government to use every employer as an unpaid tax collector, extracting the tax quietly and silently from each paycheck. In many ways, we have Milton Friedman to thank for the present monster Leviathan State in America."

Here are some links that shed light on the differences between Chicago and Austrian economics:

http://www.googlesyndicatedsearch.com/u/Mises?hl=en&amp;lr=&amp;ie=ISO-8859-1&amp;q=Chicago+School&amp;btnG=Search

Economic Insights
Volume 7, Number 3
Federal Reserve Bank of Dallas

Frank H. Knight—Origins of the Chicago School of Economics
http://www.dallasfed.org/research/ei/ei0203.html#top

Ludwig Von Mises
Economic Insights
Volume 6, Number 4
Federal Reserve Bank of Dallas:
http://www.dallasfed.org/research/ei/ei0104.html

cushioncrawler
10-14-2006, 07:14 PM
<blockquote><font class="small">Quote FatsRedux:</font><hr> Actually the Chicago School was founded by Frank Knight. Milton Friednam being the most current adherent. Mises was a member of the Austrian School of Economics. There are fundamental differences that separate the two schools of economic thought. Austrian School economist Murray Rothbard had this to say in his book "Unraveling Milton Friedman": "One of Friedman's most disastrous deeds was the important role he proudly played, during World War II in the Treasury Department, in foisting upon the suffering American public the system of the withholding tax. Before World War II, when income tax rates were far lower than now, there was no withholding system; everyone paid his annual bill in one lump sum, on March 15. It is obvious that under this system, the Internal Revenue Service could never hope to extract the entire annual sum, at current confiscatory rates, from the mass of the working population. The whole ghastly system would have happily broken down long before this. Only the Friedmanite withholding tax has permitted the government to use every employer as an unpaid tax collector, extracting the tax quietly and silently from each paycheck. In many ways, we have Milton Friedman to thank for the present monster Leviathan State in America." Here are some links that shed light on the differences between Chicago and Austrian economics:... <hr /></blockquote>
Thanks for those links, i will look at them next week -- lately i have been catching up with the scandal surrounding Einsteinian relativity -- the lies etc are now emerging, but 100 years too late.

Are there any economists coming out of the closet and revealing the truth, ie the lies surrounding current economic thinking -- allbeit, 100 years too late ????

Has anyone done an unbiased and scientific analysis of Hitler's economic miracle ??? I allways thort that Schacht helped Hitler a lot -- i was very surprised to find that he was just another (western style) economist, and that Hitler had to sack him. madMac.