Great Economics Discussion Last Night

[GS_Dirtboy]

In spite of the Subte strike there were five of us who were able to make the coffee discussion last night in Palermo. It was a lively conversation on Austrian Economic Theory. When my brother (from the States) called and I told him what we were doing and he said, "Couldn't you find something a little more exciting to do like join an Abacas Club?"

Seriously, we had a great time and I've personally learned alot about economic theory as well as Argentine politics. I also took away three or four very practical suggestions on how to better manage my Argentine financial and business transactions. Attendees were El Expatriado, MikeS, SA2001, GS Dirtboy, and a special thanks to our discussion leader Camberiu.

Appologies for the Subte being on strike. We know others wanted to attend but couldn't. I've sent a message to the union leaders to make sure that doesn't happen during our next meeting.

Future Meetings: The general consensus was that we should have this once per month so we picked the 3rd Wednesday as the default date. Since one time doesn't work for everyone we might alternate/or change to lunch.

If you have a special request for a subject or would like to be a discussion leader for a meeting please PM me. We'd be happy to have your input.

GS Dirtboy

 

[el_expatriado]

I agree. It was a great chat and very nice to meet new people. It was interesting to hear other expats' ideas on the economy and where Argentina is heading -- a very interesting and diverse group.

 

[El chabon]

When did the meeting finish?

I would by the way definitly consider à fb page or an event

 

[GS_Dirtboy]

When did the meeting finish?

I would by the way definitly consider à fb page or an event

Does that mean I'll need to get back on FB? I've lived very comfortably without it for 2 years now.

 

[pscheffer]

aahh that great 'theory' that has never worked anywhere and they are now trying once more in Greece. Austerity may be working in a mountain village in Austria but I'd pick a Keynesian any day over an Austrian

 

[camberiu]

aahh that great 'theory' that has never worked anywhere and they are now trying once more in Greece. Austerity may be working in a mountain village in Austria but I'd pick a Keynesian any day over an Austrian

Austrian economic theory is being applied in Greece? How? Since when is the ECB a follower of the Austrian school?

The only follower of the Austrian school in the EU parlament wants the end of the ECB imposed austerity and Greece out of the European Union.

http://www.youtube.com/watch?v=8ugNOj8JsXY

 

[el_expatriado]

Austrian economic theory is being applied in Greece? How? Since when is the ECB a follower of the Austrian school?

The only follower of the Austrian school in the EU parlament wants the end of the ECB imposed austerity and Greece out of the European Union.

http://www.youtube.com/watch?v=8ugNOj8JsXY

Austrians would say let Greece default on its debt (this is inevitable, by the way). It would take down some of the banks that lent it all those euros that it will never be able to pay back, but at least it would end this bout of endless suffering that is thrust upon the Greek people and let them start anew.

An Austrian would say, "Why should German taxpayers be forced to subsidize Greece's creditors?"

 

[redrum]

aahh that great 'theory' that has never worked anywhere and they are now trying once more in Greece. Austerity may be working in a mountain village in Austria but I'd pick a Keynesian any day over an Austrian

well unfortunately, keynesian theory has largely been proven to be junk economics. i believe that if greece had been using austrian theory it would not be in the mess it is right now.

to say it "has never worked anywhere" is disingenuous because no politician has ever had the courage nor the temerity to truly implement it. why would they when they can steal money from the public and enrich themselves by creating inflation? think about it.

 

[PhilinBSAS]

well unfortunately, keynesian theory has largely been proven to be junk economics. i believe that if greece had been using austrian theory it would not be in the mess it is right now.

to say it "has never worked anywhere" is disingenuous because no politician has ever had the courage nor the temerity to truly implement it. why would they when they can steal money from the public and enrich themselves by creating inflation? think about it.

Paranoid and deluded. Demand Management is applied universally Do you know what Keynesian theory is I wonder?

 

[camberiu]

Well, I do consider Japan to be the poster child of the failure of Keynesian model. After two decades of government economic stimulus, Japan has little to show for it, other than the almost 300% debt to GDP ratio, of course.