prau

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Last Notes

2026-04-29 12:48:25 UTC

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Pure #capitalism, a true free #market #economy, is a system based on voluntary interactions between people without any #coercion or #violence. If the state fails to punish those who commit theft, murder, and so on, it simply means it's acting incorrectly. Blame the bureaucrats and voters, not the capitalists.
@npub19ue…4ssw

2026-04-29 11:58:38 UTC

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Please don't call statism capitalism.
@npub19ue…4ssw

2026-04-29 11:48:54 UTC

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He's wrong. All people kill #climate, not #capitalism or capitalists.

2026-03-02 12:58:28 UTC

"This year would have been his 100th birthday, and we are paying special tribute to his legacy all year long. While we would love to know what he would think of the world in 2026—the federal government plummeting, the corporate press increasingly neutered, alternative and even subversive content freely circulating—we are fortunate to have a global network of Rothbardians that continues his battle against the state."
https://mises.org/mises-wire/celebrate-murrays-100th-birthday-us
#rothbard #economics #history #philosophy #politics #state #freedom

2025-08-31 02:57:02 UTC

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#Unions are a redundant and harmful link in the chain of production of consumers goods. #Workers and general public should not support extortionists. #capitalism
@npub1san…jgxu

2025-08-17 16:57:52 UTC

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Why don't FAs find another job if this one is so terrible?
Or maybe they want more than the labor market can offer them?
If so, then they are extortionists. Consumers are victims.

2025-08-13 10:12:46 UTC

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Capitalism does not cause wars. Wars are caused by the #statism that people love so much.
@npub1zxn…0kqm @npub1qj0…wryw

2025-08-09 15:44:49 UTC

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Frankly, the state is a parasite, and the trade #unions are parasites too. In this case, the parasites, the unions, are parasitizing on the parasite - the state, and all of them are parasitizing on the real producers, on the net taxpayers.

2025-08-08 01:37:25 UTC

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Bureaucracy will not solve the problem, socialism will not help.

2025-08-07 03:05:00 UTC

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I think you understand perfectly well that your objections are very weak. Yes, philosophers knew that there are ends and means, but no one except #Mises (and #Rothbard!) was able to build a complete (and correct!) theory of human action, praxeology and its main part - #economics.

2025-08-05 07:08:09 UTC

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Behavioural economics is not #economics, it is #psychology. Economics is not interested in why a person chooses A and rejects B, it only studies the consequences of such a choice.
On Hitchen's Razor. Can you refute point 1) of my previous post that man chooses ends first and then means? When you decide to answer me or not, you will have provided evidence that the fundamentals of Austrian economics are real, true, and rooted in human nature.

2025-08-05 06:27:30 UTC

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"better regulation" means more regulation. Professors know only one way to deal with what they don't like or understand: more/better regulation. They advocate not more freedom, but more oppression. Putin and Xi applaud loudly.

2025-08-05 02:38:49 UTC

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This is how Austrian economics is built. Austrians use logic to draw conclusions. Mathematics is not applicable to the study of human activity. Austrian economics is apodictically correct, it cannot be verified or refuted experimentally, since no one can conduct experiments in the field of human action. Everyone can read/listen to Rothbard's #mespm for details. (Sorry for my bad English.)

2025-08-05 02:36:49 UTC

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Classical liberalism and libertarianism are ideologies. They tell people what they ought to do. They are not ethically neutral. Austrian economics is a science that tells people what is. Economics is ethically neutral. The only question that needs to be answered about such a theory is whether it is correct.
Fundamentals of the Austrian economics:
1) "the Fundamental Axiom of action—that men employ means to achieve ends" (Rothbard): people first choose ends, then means;
2) "there is a variety of human and natural resources" (Rothbard);
3) "leisure is a consumers’ good" (Rothbard) and labor is a burden.
Then:
4) Only individuals act, groups cannot act;
5) A person prefers a good now to the same good in the future (time preference);
6) Any action takes time:
7) A person always chooses a benefit in advance, ex-ante, but after the action, ex post, he can understand that he has lost. Because the future is unpredictable.
8) In the voluntary exchange, both parties benefit.
9) A man value a unit of a supply of n units more that a unit of a supply of n+1 unit, and a supply of n units less than a supply of n+1 units (two laws of marginal utility).
10) etc.

2025-08-04 19:17:44 UTC

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You behave something like this: I haven’t read the Austrians, but I condemn them for everything that I was told I shouldn’t like.

2025-08-04 16:18:58 UTC

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Too many letters. I can't read that much. Can you list the fundamentals of Austrian economics? In just three short sentences.

2025-08-04 15:31:01 UTC

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Can you list these assumptions?

2025-08-04 15:11:05 UTC

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Austrian economics should be trusted.
@npub1xh2…u80r

2025-08-03 02:30:17 UTC

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Perhaps the only time classical liberals can justify tariffs is in defense, when the government protects the supply of some goods in anticipation of a future war.
In the case of infant industry, there is outright statism. The state must not interfere with production. Public opinion (and the state!) must resolutely reject any attempts to grant privileges to anyone at the expense of net taxpayers.

2025-08-02 16:22:40 UTC

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Tariffs are always harmful. There will be no winner. Statism kills.

2025-08-02 14:25:16 UTC

"... the rate of interest … is not a function of the quantity of money. It is a function of “time preference,” of the rate at which people prefer satisfactions in the present to the same satisfactions in the future. … … time preference is deeply rooted in human nature and the nature of man; it is not in the least a monetary phenomenon but would be just as true in a world of barter." — Murray N. Rothbard.
#economics #rothdard #capitalism #austrianeconomics

2025-08-02 03:20:18 UTC

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Without capitalism, these activists would probably not exist. And therefore, they would know nothing about the climate.

2025-08-01 12:50:05 UTC

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Prices are determined solely by the law of supply and demand. If costs rise, marginal producers leave the market, production of goods in question falls, and as a result, prices rise. Tariffs are bad for everyone.
On Fediverse, 99% of those who write about economics and similar topics blame capitalism and call on the government to help. I am far from deifying all capitalists. People are people, no matter how much money they have. But it is statism that is to blame, not capitalism.

2025-08-01 12:02:44 UTC

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I can also say that you seek to blame capitalism for everything and the Gov. for nothing.
By stating "if those goods are industrial inputs then the effects widen out", you demonstrate poor knowledge of economics (or knowledge of poor economics). Because prices are not determined by costs of production, but by what? Can you give right answer?

2025-08-01 10:52:23 UTC

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Tariffs can only raise prices on goods subject to the tariffs. They cannot raise all prices. Goods not subject to tariffs will, other things being equal, have lower or the same prices.
All prices rise (what people unfamiliar with real economics call inflation) only when the government, through its central bank, increases the money supply (this is true inflation).
Both tariffs and the growing money supply are creations of #bureaucracy and its intellectual allies, not capitalists or/and entrepreneurs, although some of them may support such pernicious economic policies.

2025-07-31 08:08:03 UTC

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Klepto-Capitalism is the result of government intervention in the economy, of #statism. Anti-capitalists, both Republicans (right, conservatives) and Democrats (left, "liberals"), have spent decades building this system. Now anti-capitalists blame #capitalism for it.

2025-07-31 06:06:00 UTC

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Trump is a bureaucrat with the power to coerce the market. He uses a hodgepodge of faulty economic theories. #Capitalism is not to blame for his actions. The anti-capitalists who taught him, and he himself, are to blame.
@npub1gpm…ajeu

2025-07-30 08:28:12 UTC

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Please provide evidence (one or two examples).

2025-07-30 07:18:08 UTC

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This is because corporations, capital, never resort to aggression. The goal of producers is peace, a necessary condition for serving consumers. This is the only sure way to get interest, rent and profit. But unions always resort to violence or the threat of violence. Intellectuals serving interest groups have supported the aggressiveness of unions for decades. This is why ordinary people wrongly support unions. It is intellectuals, not capitalists, who are the real destroyers of the free market.

2025-07-29 13:17:20 UTC

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This -- "they end up being a lot more relaxed about corporate distortion & a lot more focussed on those from the collective actions of labour" -- has nothing to do with reality. It sounds like you're trying to make them out to be corporate advocates. They weren't. They were economists, not propagandists, advocates of special interests.

2025-07-29 12:13:44 UTC

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Please read this (as my answer).
Human Action: Part Six: The Hampered Market Economy.
https://mises.org/online-book/human-action/part-six-hampered-market-economy
#economics

2025-07-29 09:32:30 UTC

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A few posts ago you accused capitalists of hampering the market. Now you admit that it is "economists" who hamper it. Questions arise about your knowledge and morals.

2025-07-28 07:20:53 UTC

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"The very essence of the interventionist politicians’ wisdom is to raise the price of labor either by government decree or by violent action or the threat of such action on the part of labor unions. To raise wage rates above the height at which the unhampered market would determine them is considered a postulate of the eternal laws of morality as well as indispensable from the economic point of view. Whoever dares to challenge this ethical and economic dogma is scorned both as depraved and ignorant. ..."
https://mises.org/online-book/human-action/chapter-xxx-interference-structure-prices/3-minimum-wage-rates

2025-07-27 05:35:37 UTC

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No. Please read #Mises and/or #Rothbard on the issue.

2025-07-27 03:01:04 UTC

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Read/listen to Mises' Bureaucracy on "corporations are mini states". They are not. Their function is to serve consumers.

2025-07-27 02:39:56 UTC

Is it possible to think critically about how society functions without having the necessary knowledge about how society functions, especially the economy?
#economics #politics #capitalism #socialism #statism #science #criticalthinking

2025-07-27 02:21:26 UTC

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Austrian school is not the Chicago school. Read Rothbard on Friedman.

2025-07-27 02:11:27 UTC

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Mises, Rothbard and their teachings are not responsible for modern "conservative" governments. They were not conservatives.

2025-07-27 02:07:00 UTC

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Again, you are deeply wrong. Under free market, consumer is the master, not corporations. Read Mises and Rothbard.

2025-07-27 01:55:15 UTC

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... by propagandists of #statism like you.
@npub1xh2…u80r @npub1usx…90z5 @npub1uc0…cpgf

2025-07-27 01:42:31 UTC

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You are deeply wrong.
https://mises.org/library/book/man-economy-and-state-power-and-market
@npub1xh2…u80r @npub1usx…90z5 @npub1uc0…cpgf

2025-07-26 09:15:58 UTC

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Under socialism you won't be allowed to publish such a cartoon. Instead you'll be forced to work from 8 to 17 in a factory, and after 5pm at home.

2025-07-22 12:48:58 UTC

"Modern civilization is a product of the #philosophy of laissez faire. It cannot be preserved under the ideology of government omnipotence. Statolatry owes much to the doctrines of #Hegel. However, one may pass over many of hegel’s inexcusable faults, for Hegel also coined the phrase “the futility of victory”. To defeat the aggressors is not enough to make peace durable. The main thing is to discard the ideology that generates war."
https://mises.org/online-book/human-action/part-six-hampered-market-economy/chapter-xxxiv-economics-war
#statism #economics #history #war