There are a multitude of, so called, expert economist but when it comes to economics the term “expert” can be quite misleading when almost every economist out there have all been schooled in only one line of economic thought and theory, as if that’s all there is. Nealy all of them follow the Keynesian model which is predicated primarily on the idea of government intervention in the form of a privately held central bank that must act, raising or lowering interest rates and manipulating the money supply in order to “smooth out the business cycle” as if a small group of elitists could actually figure out such things considering the constantly unpredictable whims of the market. These elitists would actually have to be “real” psychics to even come close to doing what they purport they are doing and somehow I don’t think they are. So much for the “free market” that so many politicians claim to believe in.
On the other hand there are only a handful of economist (growing quickly with the obvious failure of the Keynesianism) that subscribe to the Austrian school of economics which does not believe in government intervention but does believe that the Free Market should and will regulate interests rates and that there should be no manipulation of the money supply because real money cannot be printed up with a few clicks on a keyboard and a mouse. Free markets will deal with the business cycle much more effectively than a committee ever could.
There are a great deal of complicated equations and theories and many other things involved with Keynesian economic model and that is what should scare you. In my estimation, when something that, should be pretty straight forward and simple is or turned into something more complicated it usually means those promoting such complexity are trying to pull the wool over someone’s eyes.
Austrian Economics may not be flawless but it is rooted in hundreds of years of common sense ideas and practice based on the free market and non-intervention. I have never seen anything at anytime that the free market did not do a better job at than the government. Anytime the government becomes involved with anything it’s more expensive, less efficient and offers inferior products and or services, period. Consider education, medicine, agriculture and many other things all of which were at one time left to the free market and although it may not have been perfect it was a hundred times better than it is now.
The vast majority of politicians, if they’ve had any schooling at all in economics, largely subscribe to the Keynesian model and are at the mercy of these so-called experts. Very likely most of them don’t even have a clue that they are subscribers because they really don’t understand economics. They are more than likely just parroting some so-called Keynesian expert who doesn’t know the “division of labor” from the “invisible hand”.
Anyway, I am no expert either but I do know that, when Keynes introduced his economic theories and they were accepted by the Statists it was full steam ahead to began meddling and tinkering with the economy via Fed policies, it was the beginning of the end. Everything from the introduction of the unconstitutional Federal Reserve and the fractional banking system to going off the Gold Standard and introducing our current fiat monetary system, has been a concerted effort of the power elite and the Banksters, to use state power to confiscate the world’s wealth and ultimately demolish the middle class and free enterprise.
If you really want to get an education in economics and you should, may I suggest you start here: Mises.org. Without knowledge the people perish and the State run educational system has been working overtime to make sure that people don’t know and understand even the most fundamental principles of economics. The solution is to learn and it’s never too late…. well, until it is. So get on the stick so you can teach your children and someday we may get back our liberty and freedom which is really what free market economics is all about.
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