I — OBJECTIVE OF DIFFERENT SCHOOLS — The different economic schools pursue different ends: a) Austrian: Social Science : reduction of frictions. Emphasis on institutions of cooperation. (“Paleo-Libertarianism / Natural Law”) b) Freshwater: Rule of Law: Non-interference with planning, but insurance against informational asymmetries, at the expense of consumption. Emphasis on ‘balance’. (“Classical Liberalism / Constitutionalism”) c) Saltwater: Discretionary Rule – favoring consumption at the expense of savings, capital, and planning. Emphasis on equality and spending. (“social democracy / leftism”) II — TIME PREFERENCE OF DIFFERENT SCHOOLS —- We can judge the time preference by the levers that each school advocates or shuns, from shortest to longest. – Direct Redistribution ( not practiced ) “New” but Saltwater will jump on it. – Fiscal Policy – Saltwater – Social Policy – Saltwater – Monetary Policy – Freshwater – Tax and Trade policy – Freshwater – Infrastructure Policy – Freshwater – Education Policy (human capital) Immigration Policy (Austrian) – Institutional Policy (Austrian)
Theme: Institution
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Objectives and Time Preferences of Different Schools of Economic Thought
I — OBJECTIVE OF DIFFERENT SCHOOLS — The different economic schools pursue different ends: a) Austrian: Social Science : reduction of frictions. Emphasis on institutions of cooperation. (“Paleo-Libertarianism / Natural Law”) b) Freshwater: Rule of Law: Non-interference with planning, but insurance against informational asymmetries, at the expense of consumption. Emphasis on ‘balance’. (“Classical Liberalism / Constitutionalism”) c) Saltwater: Discretionary Rule – favoring consumption at the expense of savings, capital, and planning. Emphasis on equality and spending. (“social democracy / leftism”) II — TIME PREFERENCE OF DIFFERENT SCHOOLS —- We can judge the time preference by the levers that each school advocates or shuns, from shortest to longest. – Direct Redistribution ( not practiced ) “New” but Saltwater will jump on it. – Fiscal Policy – Saltwater – Social Policy – Saltwater – Monetary Policy – Freshwater – Tax and Trade policy – Freshwater – Infrastructure Policy – Freshwater – Education Policy (human capital) Immigration Policy (Austrian) – Institutional Policy (Austrian)
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Is Propertarianism Both Chicago and Austrian? Well…
Sep 04, 2016 11:10am —“Curt: Can we then say that your philosophy is both Chicago and Austrian?”—GREAT QUESTION I have no problem with discretion in fiscal policy(saltwater), rule of law in monetary, infrastructure, and trade policy(Chicago freshwater), and social science in institutional and human capital policy(Austrian). It’s when economists try to conflate any of those TOOLS by misapplying them outside of the knowledge required to truthfully appeal to the public for moral license to act upon opportunities each tool provides that I have a problem. In other words, if it’s true and voluntary that’s fine. If it’s not true and voluntary then it isn’t. My objective is truth in the pursuit of voluntary cooperation through exchanges. And to overthrow the pseudoscientific era of aggregations for the purpose of conducting fraud. Thanks
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Is Propertarianism Both Chicago and Austrian? Well…
Sep 04, 2016 11:10am —“Curt: Can we then say that your philosophy is both Chicago and Austrian?”—GREAT QUESTION I have no problem with discretion in fiscal policy(saltwater), rule of law in monetary, infrastructure, and trade policy(Chicago freshwater), and social science in institutional and human capital policy(Austrian). It’s when economists try to conflate any of those TOOLS by misapplying them outside of the knowledge required to truthfully appeal to the public for moral license to act upon opportunities each tool provides that I have a problem. In other words, if it’s true and voluntary that’s fine. If it’s not true and voluntary then it isn’t. My objective is truth in the pursuit of voluntary cooperation through exchanges. And to overthrow the pseudoscientific era of aggregations for the purpose of conducting fraud. Thanks
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State Healthcare is Not A Problem Unless It’s A Monopoly
Aug 24, 2016 11:35am The problem is MONOPOLY healthcare. As long as private care and hospitals are available, and the wealthy are paying for time and customer service, they will continue to pay for research and development, and the STATE healthcare can provide commodity services. The problem is not that this arrangement wouldn’t provide better care all around, but that the state cannot bear competition under which state health care would always be considered by the market to be inferior, and therefore pressure higher on the state.
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State Healthcare is Not A Problem Unless It’s A Monopoly
Aug 24, 2016 11:35am The problem is MONOPOLY healthcare. As long as private care and hospitals are available, and the wealthy are paying for time and customer service, they will continue to pay for research and development, and the STATE healthcare can provide commodity services. The problem is not that this arrangement wouldn’t provide better care all around, but that the state cannot bear competition under which state health care would always be considered by the market to be inferior, and therefore pressure higher on the state.
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Poetry and Rhyme As Institutions of Normative Law
Aug 24, 2016 11:41am(interesting idea) There is a reason why we want to restore BOTH truthfulness AND Poetry with Rhyme: Just as our ancient ancestors chose our intellectual (druidic / historian) leadership by their abilities to remember, our more recent intellectual leadership was sorted out by their use of poetry and meter. So if we speak testimonially, in rhyme and meter, we will ‘sort’ by speech as did our historical and prehistorical ancestors. And like our ancestors these words, in rhyme and verse, truth to the core, will work their way into the commons vernacular as normative law. ( I will work more on this but I seem to have solved the problem of both truthful speech, and art, poetry, and literature that troubled me so seriously in the early days.)
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Poetry and Rhyme As Institutions of Normative Law
Aug 24, 2016 11:41am(interesting idea) There is a reason why we want to restore BOTH truthfulness AND Poetry with Rhyme: Just as our ancient ancestors chose our intellectual (druidic / historian) leadership by their abilities to remember, our more recent intellectual leadership was sorted out by their use of poetry and meter. So if we speak testimonially, in rhyme and meter, we will ‘sort’ by speech as did our historical and prehistorical ancestors. And like our ancestors these words, in rhyme and verse, truth to the core, will work their way into the commons vernacular as normative law. ( I will work more on this but I seem to have solved the problem of both truthful speech, and art, poetry, and literature that troubled me so seriously in the early days.)
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Restoring Civic Organizations
RESTORING THE CIVIC ORGANIZATIONS PRIOR TO THE ATTEMPT TO INDUSTRIALIZE A MONOPOLY OF THE NUCLEAR FAMILY. We need to force the creation of (a) monasteries (education and caretaking) in the ‘scientific’ sense, and (b) regiments (emergency and defense), and (c) civic dormitories (commons construction and maintenance). These places need to provide room and board to men of character in each class, in exchange for civic labor. Strict behavioral requirements, preserving the sacredness of the commons, (and suppressing impulse), Privately managed non-profits (leaving membership discretionary and without state interference). They will absorb the excess male population that will only serve to increase, increase the scarcity of marriageable males, reduce the size and cost of the state, reduce the cost of commons construction and maintenance, improve the general health and welfare, allow us to return to handcrafted hand-maintained commons.And restore civic ‘ownership’. If in addition, we eliminate child support and alimony, the family will be restored in one or two generations. And where it isn’t we don’t need it to be.
I have learned a great deal living on this side of the pond. The old ways assisted families in classes in compatibility, they were not industrialized societies trying to mass produce middle class from variously incompatible raw materials. -
Restoring Civic Organizations
RESTORING THE CIVIC ORGANIZATIONS PRIOR TO THE ATTEMPT TO INDUSTRIALIZE A MONOPOLY OF THE NUCLEAR FAMILY. We need to force the creation of (a) monasteries (education and caretaking) in the ‘scientific’ sense, and (b) regiments (emergency and defense), and (c) civic dormitories (commons construction and maintenance). These places need to provide room and board to men of character in each class, in exchange for civic labor. Strict behavioral requirements, preserving the sacredness of the commons, (and suppressing impulse), Privately managed non-profits (leaving membership discretionary and without state interference). They will absorb the excess male population that will only serve to increase, increase the scarcity of marriageable males, reduce the size and cost of the state, reduce the cost of commons construction and maintenance, improve the general health and welfare, allow us to return to handcrafted hand-maintained commons.And restore civic ‘ownership’. If in addition, we eliminate child support and alimony, the family will be restored in one or two generations. And where it isn’t we don’t need it to be.
I have learned a great deal living on this side of the pond. The old ways assisted families in classes in compatibility, they were not industrialized societies trying to mass produce middle class from variously incompatible raw materials.