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> Without government intervention into the economy, can wages rise naturally? < Wages rise naturally after the floor is above subsistence. Disposable income is the key that allows labor to get specialized. As long as the vast majority of consumers have zero disposable income, there can be no healthy...
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i have recently designed the following course for my own use: rigourous introductory study centers around rothbard's 'man, economy, and state', via robert murphy's accompanying study guide as an auxillary map, and with mises' 'human action', 'theory of money and credit'...
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i am unsure as to what you mean...the rate cut was a mere 10 days ago...much too early to state it's effects, much less to state it has worked in the OPPOSITE direction!!!?!! it is not an exact science, but to say monetary policy has NEVER worked is a bit naive.... minimal government intervention...
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An expectation of long term inflation would seem to be factored into (loan) interest rates. Rothbard makes this point in "Making Economic Sense", ch. 8: http://www.mises.org/econsense/ch8.asp, in particular: As prices rise, and as people begin to anticipate further price increases, an inflation...