Originally Posted by zambizzi
It's pretty simple, if you can detach yourself from the bogus econometrics that Keynesian professors have indoctrinated kids with, for several generations now. If your money purchases more, you're wealthier for it. If it purchases less, over time, you're becoming poorer.
Hey zambizzi...just curious if your an economist or something similar. I'm currently studying economics so i'm learning about all that stuff. I was under the assumption that its the neoclassical and monetarist stuff that has been getting taught since the 70s, until about 2 years ago where there seems to be a bit of a revival of Keynesian economics with the whole global financial crisis. I do agree with you that there is alot of merit in learning the basics of Hayek and the Austrian school of thought though.