Author: Curt Doolittle

Karl Smith: Is Apple Evidence Against Austrians? http://www.capitalismv3.com/index.php/2011/10/karl-smith-is-apple-evidence-against-austrians/

http://www.capitalismv3.com/index.php/2011/10/karl-smith-is-apple-evidence-against-austrians/The Zombie Philosophy Of The Progressive Left Economists

http://blogs.wsj.com/economics/2011/10/25/a-look-at-case-shiller-by-metro-area-5/tab/interactive/Seattle/Portland (Northwest) home prices continue their decline.

I should go through my email from 2004-2006 and see how many people said I was out of my mind. Nope. Wasn’t. And Im in the camp that says it won’t get better for a very, very long time. Originally I said 2014, but maybe as long as 2020. How to fix it? How to fix the economy? Do what I recommended in 2007, what Galbraith recommended in 2008, and what a few major economists are just now recommending – buy down mortgages. But it’s too political. Instead, we have to adjust world wide prices and endure unemployment. I’m a libertarian. I don’t like it. But ethically, if the state creates a problem the state can surely fix the problem.

http://lewrockwell.com/rockwell/the-evil-1-percent194.htmlProtesting the wrong 1%

Krugman Watch: Austerity Class? Or is it a Starve-The-Beast Class? http://www.capitalismv3.com/index.php/2011/10/krugman-watch-austerity-class-or-is-it-a-starve-the-beast-class/

http://blog-imfdirect.imf.org/2011/10/21/growing-pains-europes-dilemma/”It is much easier for poor countries to grow faster than it is for rich countries because they can import technology they do not already have. It is much more difficult to grow fast if you are already rich and at the technology frontier—now you can only get richer by innovation.” -Bas Bakker

This is a basic law of economics. It’s immutable. But that doesn’t stop people from ignoring it….

http://www.capitalismv3.com/index.php/2011/10/krugman-watch-austerity-class-or-is-it-a-starve-the-beast-class/Krugman Watch: framing the debate by tactics not strategy as a means of undermining the argument.

http://www.econlib.org/library/Columns/Nyepositional.htmlMy postion is that Positional Goods (Status Signals, Signaling, Status Cues), are not redistributable. And that’s because status signals are NECESSARY, not preferential.

http://www.econlib.org/library/Columns/Nyepositional.htmlJohn Nye writes more on Status Signals: “because the West is much richer, positional or status goods are consequently more important. The struggle over status goods can be masked when you have rapid growth and a lot of mobility. But ultimately, middle and upper middle class people DO care more about health care, location of housing, and elite schooling than poorer people. “

In marketing, advertising and politics, social signaling matters. Now, my argument is that it’s impossible to have a complex society without social signals. So my argument is that social signals are NECESSARY. Just like money and numbers are necessary. Because we would would literally not be able to THINK if we didn’t have status signals. Just like we wouldn’t be able to THINK if we didn’t have prices.

I love Apple. Really. iPhone problem? Wait in line for 20min. Get a brand new one for a hundred bucks. Go home. Hit “restore”. Wait a few minutes. Done. Priceless.