I was recently reflecting on the similarity of the assumption of rationality is to Mises the principle of action in Human Action, which he holds to be synthetic a priori, based on self-evidence rather than empirics. That was too far a stretch even for Hayek, who agreed with Popper on its (assumed) exemption from being able to be disconfirmed.
Noah parses the similarities and differences of Mises and New Classicalism, finding that while the two are significantly different, New Classicalism is in the same boat with Mises on the side of rationalism versus empiricism.
Noahpinion
How the New Classicals drank the Austrians' milkshake
Noah Smith
Noahpinion
How the New Classicals drank the Austrians' milkshake
Noah Smith
4 comments:
It's here ... 2001 again ?
or 2001 + 2008 combined ?
or just a local bump in the road down south ?
JUST REPORTING FROM FAMILY IN ARGENTINA :
price of a dress: U$D 1000
milk gallon : U$D 25
Meat : doubled
Hyperinflation has hit.
My prediction came true !
They are going to drive up prices and break into a new currency float as we speak !
This is MMT in RREAL time ?
I would like to point out that cows outnumber human beings in Argentina by a factor of 3 to 1.
MOVE ALL YOUR MUTUAL FUNDS AND STOCKS OUT OF EMERGING ECONOMIES ?
CALL OPTIONS ON AGRICULTURE OPTIONS COMMODITIES IN CHICAGO ?
OR PUT OPTIONS ?
IF THE PRICES ARE GOING UP IN ARGENTINA ... WILL THEY SPREAD AROUND THE WORLD ?
are these just internal price increases ?
am I telling the truth ?
don't let me lie to you, I could be wrong.
Does this mean the dollars are coming in Argentina and this is a temporary bump ?
watch the Nikkei tonight or whatever AG commodity index can tell you.
Chicago mercantile ?
OK
CORRECTION :
CHANGE THE U$D to pesos
still too expensive !!
Iron Mountain document repository is burning in Buenos Aires
TNT en Vivo television available online
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