Real Economic Growth Depends on Savings
Keynesians claim that the source of economic growth is consumer spending. Austrians know that net savings are the key to a growing economy.
Keynesians claim that the source of economic growth is consumer spending. Austrians know that net savings are the key to a growing economy.
Economists and political elites fondly claim that economic growth is due to increased technological knowledge. That is only partly true.
While Graham Priest seems to have "rescued" Marxism from the labor theory of value, he cannot rescue Marxism itself.
Peter Lewin joins Bob to discuss his work on uniting Austrian capital theory with mainstream finance.
Economists and political elites fondly claim that economic growth is due to increased technological knowledge. That is only partly true.
While Graham Priest seems to have "rescued" Marxism from the labor theory of value, he cannot rescue Marxism itself.
Time is an irreversible flux. Each moment has a unique place in the sequence of moments of time with respect to action.
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
MMT champion Warren Mosler claims that Fed rate hikes lead to larger government interest expenses and hence support economic growth and inflation. Bob presents both theoretical and empirical evidence against Mosler's claims.