Human Action

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Bump part 2: the second bump

Is this more of a focus on moral issues? For sure, Ludwig Von Mises is well read, but some of his points, while interesting hold no ground in truth.

It is always funny reading that section of The General Theory where Keynes literally discredits one of the terms Mises uses. Absolutely embarrassing for an academic to have the use of a term questioned like that.

Mises is basically just a rehash of Menger with an excellent history lesson. Menger is amazing, just read him.

>>9935748
It's his big book on econ and grounding praxeology. I'm reading it because it's considered for foundational for Austrian econ.
Which book do you recommend, starting Menger with?
And what term did Keynes 'discredit'?

Austrian econ is a joke... We don't need more layman 'economists' posting their quack theories on the internet and misconstruing economists' views because they've only ever listened to ECO101 level stuff. Please, get into sports or something.

>>9935672
Just remember Mankiw is a piece of shit and a hack so read Smith first and interpret Mankiw through that lens.

>>9935786
t. sheep

>>9935778
I've only read Mises' Theory of Money and Credit, but it is extremely conjectural and the instances of stating the effects of removing the gold exchange standard were proven actually to be the opposite of what occurred when the gold exchange standard was effectually removed, indicating the price of gold actually significantly went up disproving also his theory that gold being used as an exchange standard also enhanced the value.

Keynes questions the Austrian economists authenticity by conflating the marginal efficiency of capital and the interest rate. The marginal efficiency of capital raising, while not correlated with interest, is the effect of decreasing the prices of consumer goods versus producer goods (or in Mises' terms increasing the consumption fund and thus lengthening the production cycle which Keynes states the opposite of) and the effect of this change would be the direct inverse of what a change in the stated interest rate would be, even using their own logic...

Marginality is something Keynes got quite well, and humorously enough, since Keynes had to be tremendously influenced by Menger's concept of Marginality and Fisher and Walras' additions to it, he actually ended up 'getting' marginality more efficiently than Von Mises.

>>9935879
Interesting. I don't know enough econ to accept or reject what you say. I want to read him, regardless, to understand his place.

I'm moving my fingers to type this comment. That's human action.

>>9935962
deep