Looking for help to refine a poster that decribes the essential points of the ATBC

Reply

awake Posted: Tue, Jun 30 2009 4:49 PM

rated by 0 users

Hello every one , I am trying to put together material for use in introducing people to the ATBC that have no economic base what so ever. As you can see from my graphics I wish it to be very simple an concise... I do need some strong cycle experts on how to cover the very basic cycle from which to build a glancing interest...

Here is the link to my rough layout... advice welcome.

Reply

Harry Felker replied on Tue, Jun 30 2009 5:04 PM

rated by 0 users

awake:

Hello every one , I am trying to put together material for use in introducing people to the ATBC that have no economic base what so ever. As you can see from my graphics I wish it to be very simple an concise... I do need some strong cycle experts on how to cover the very basic cycle from which to build a glancing interest...

 

Here is the link to my rough layout... advice welcome.

 

 

Looks nice....

Though I think putting the alternative to government money could be a decent suggestion....

Just do not let them talk to me....

Reply

hayekianxyz replied on Tue, Jun 30 2009 5:32 PM

rated by 0 users

A few problems:

1. The letter C in "Created" capitalised in point 1 where it shouldn't be, the same applies for "Begins" in point 2. (Note, I don't want to be pedantic, but I figured it's a nice posted, so it would be a shame to include silly mistakes such as this).
2. There is no mention of the interest rate, which is the essential point for ABCT.
3. There is no mention of overinvestment, granted, malinvestment is the more important point, but overinvestment is also a part of ABCT.
4. Point 4 is somewhat incomplete, the boom can come to an end in spite of increased credit expansion.
5. "The malinvestments must be allowed to clear to allow a return to a healthy and efficient economy" is an odd sounding sentence. Perhaps it might be better to state that the allocation of scarce resources to uses more in line with the desires of consumers must not be impeded in order for "the economy" to "recover".
6. I'm not sure the inclusion of FRB in your proposal is a good idea, I'm not an advocate of FRB myself, but I know a lot of Austrians either see it as beneficial to the economy, or at the very least, not fraudulent. Whilst I agree with you, it seems to include a point that is very debatable in your analysis when leaving it out to focus on the Fed would have just as much power.

All but point 2 and perhaps 6 are minor nitpicks, good job, that's a really great poster you've got there.

Reply

Lilburne replied on Tue, Jun 30 2009 7:38 PM

rated by 0 users

You might be interested in taking a look at my 9-step formulation: My Take on the ABCT (Simple Version)

Also see...

My Take on the ABCT (Complex Version)

My Take on the ABCT: Objections Considered

Reply

awake replied on Tue, Jun 30 2009 8:51 PM

rated by 0 users

Thank you for your observations, I will employ them outright.

Reply

AJ replied on Tue, Jun 30 2009 8:53 PM

rated by 0 users

• Make the C in "Created," the T in "The" (in #1) and the B in "Begins" (in #2) lowercase
• occured --> occurred (in #3)
• #3 seems weak from the standpoint of a skeptic; people would naturally ask, "Why does more money result in malinvestment?"
• GOVERNEMNT --> GOVERNMENT
• SEPERATION --> SEPARATION
• PAYED --> PAID
• Also, I agree with Giles, fractional reserve banking is not unilaterally opposed in the Austrian school. (And AnCaps ought to support it.)

Reply

Lilburne replied on Tue, Jun 30 2009 9:39 PM

rated by 0 users

Here are the stages from my "Simple Version".

1. Money Supply Increase causes a general

2. Credit Supply Increase, which causes a general

3. Interest Rate Decrease, which causes a general

4. Longer Term Investment Increase, which causes a general

5. (a) Demand for Labor Increase and (b) Demand for Capital Goods Increase, which cause a general

6. (a) Wage Rate Increase and (b) Capital Goods Price Increase, the first of which causes a general

7. Credit Demand Increase, which causes a general

8. Interest Rate Increase, which, along with 5(b), causes a general

9. Longer Term Investment Decrease back to normal

Reply

eliotn replied on Tue, Jun 30 2009 9:54 PM

rated by 0 users

Looks good.  One comment. 

The third point under "what can be done to fix it?" is wrong.  A bank that merely offers a storage service for money is not fraudulent.  Rather, I would put there that FRB is fraudulent, and suggest returning to the gold standard.  Thing is, the wording as it is now is catchy.

Reply

awake replied on Sun, Jul 5 2009 2:40 PM

rated by 0 users

Here is an updated draft - It is a bit more detailed, comments and sugestions welcome...

Thanks,

Awake