Daily reminder the first country to eliminate their central bank and allow free market banking will have the highest...

I'm getting many more economic theory based responses on here than on /pol/.

Good

>and defend the freedom of his boss to manage his enterprise
Of course I defend this.
It's the only thing leading to shrinking working hours.
pic related

> Debt is discouraged
> Investments rise
> Capital goods become cheap
Uhh?

uuhhh what?

Investments, which are based on borrowed money largely, would fall if the price of debt increased, not the other eay around.

wew

>he thinks work hours went down is what bosses wanted
hahahahahahah amerilards are truly amazin

>Austrians are the true scientists.
Austrians are literally not scientists. They're against experimentation, preferring "praxeology".

no, investments would be based on REAL economic reality instead of government money printing fantasies

things would only be invested in if they benefit society and not banker scum

it's not what they wanted at all.
that was my fucking point
free markets made working hours fall, bosses had nothing to do with this
socialists need to be gassed

Praxeology is merely the a priori fact that all human action has some sort of purpose, and because it has purpose, it is comprehensible and logical and therefore economic laws can be universal and objective and economics is a real science. It is not meant as a replacement or a rejection of empiricism, but as a complement to empiricism. Praxeology is also not used as a handwave to avoid reason or refutation, praxeological systems and axioms can be refuted by refuting the chain of reasoning that they are based on, empiricism can establish the appropriateness of a theory's application to a particular concrete event but is not effective to completely falsify praxeological theories. Economics cannot be considered a scientific discipline without praxeology, and while it may be a dismal science it is a science nonetheless. Austrian economics has plenty of analytic proposals and empirical evidence behind its theories as well, Hayek's theory of production/prices for example is not strictly praxeological but it is a falsifiable analytic proposal that has yet to be falsified. The catastrophic failures of centrally managed economies in contrast to the success and abundance of laissez-faire historically is also empirical evidence that reinforces and complements the Austrian school's praxeological basis.

>mfw my national bank is a public listed and traded stock company
>mfw I can own my own national bank

sounds horrible desu

we need to abolish all national banks

kill em all

>free markets made working hours fall
Unions made working hours fall.

If you support central banking and socialism you ENJOY being poor and enslaved

>Economics cannot be considered a scientific discipline without praxeology
M O R E
C O O L A I D

Actually no, a public stock national bank apparently grants you the highest living conditions on earth for decades. Also, it magically turns you form a dirtpoor landlocked back country shithole to obscenely rich AAA+ rating.
Ancaps wet dream

>Unions made working hours fall.
Emperically false you socialist piece of shit.

Working hours were falling long before unions had any power.
Also unions lost most of their "battles".
How would this have magically made working hours drop nationwide?

You make no sense.

It literally cannot.
Enjoy being a brainwashed retard though.

>GOVERNMENT CENTRAL BANKS ARE AN ANCAPS WET DREAM

How do we murder you intellectually dishonest pieces of shit?

>no, investments would be based on REAL economic reality instead of government money printing fantasies
Investments by companies are based on their economic reslity coupled with the financial sectors willingness to finance them. Central bank plays a role here through interest rate: the higher is, the fewer investments can be made as some become less profitable and the ones that exist bring less profits.

>things would only be invested in if they benefit society and not banker scum
Investments made by companies are made to benefit the companies, which are the core of our societys economy. Real/fake economy is a bizarre dichonomy that undervalues the benefits of a robust financial sector, which is essential to the functional complex market.

>Working hours were falling long before unions had any power.Also unions lost most of their "battles".
>amerilards actually believe this
what a nations of cucks.

>GOVERNMENT
finance.yahoo.com/quote/SNBN.SW?ltr=1
You dumb fuck can buy a share whenever you feel like.

Why do socialists lie constantly?

>Investments by companies are based on their economic reslity coupled with the financial sectors willingness to finance them.
in the modern economy they are not based on reality

they are based on what government money printing has caused them to malinvest in

>Central bank plays a role here through interest rate: the higher is, the fewer investments can be made as some become less profitable and the ones that exist bring less profits.
To think that the government can magically control interest rates to "regulate" the economy is beyond delusional.

>Investments made by companies are made to benefit the companies, which are the core of our societys economy.
Goldman sachs and housing market companies are the core of societies economy?

No, they're scumbag government bankers fucking people over.

>Real/fake economy is a bizarre dichonomy
So the housing market you people created never happened?
lol you fucking idiot

Unions held considerable power in Germany from 1880s and Bismarcks welfare laws (that reduced max working hours) were a direct reaction to them

>IT'S NOT TRUE
>IT'S IMPOSSIBLE
>BUT MUH LABUR BOWEL MOVEMENTS

Gas yourself commie.

It's still a government granted central bank, that's my point silly.

The only way biscuck lowered working hours was by making people poorer.

Government cannot magically make people rich by passing laws.

You people are religious fundamentalists.

wiki.mises.org/wiki/Otto_von_Bismarck

Yes, and it seems to work fucking flawless. Even better, the Swiss could abandon it every day of the week if they ever wanted to, courtesy of direct democracy.

>me
>a socialist
lmao

>Yes, and it seems to work fucking flawless.
>created the great depression
>created every recession and depression since central banks were created
>constantly making everyone poor and more enslaved

Yeah central banks are "flawless".

What a fucking joke, you people are brainwashed fools.

>I'm just an extreme workers rights guy
>I'm not a socialist

You still deserve a free helicopter ride

I bet you're a pussy natsoc or fascist. You people are leftists as well.

Yes, the whole economical establishment is completely wrong but you're cult-sized group of "scientists" is correct. This is totally not a sign of being brainwashed.

>saying that unions were the main reason why working hours went down = being an extreme workers rights guy
Is fat already obstructing the arteries in your brain?

>Swiss national bank created the great depression
Are you genuinely dumb or just used to /pol/ debating standards?

>bowties calling anyone a pussy

> in the modern economy they are not based on reality
So modern companies making investments are not based on rational analysis of market demands, opportunities, possibilities for growth etc? When Amazon is planning a new HQ and bids it to all cities in US, that's just malinvestment?

> To think that the government can magically control interest rates to "regulate" the economy is beyond delusional.
It is nothing magical. Markets by large have come to find the interest rate of U.S long term bonds to be the floor of interest rates, with it, inflation and economic growth forming the lowest risk and thus lowest possible interest rate. Changing one of these components obviously affects the outcome, and that affects the monetary markets evaluation of systemic risks and thus the systemic valuation of interest rates.

> Goldman sachs and housing market companies are the core of societies economy?
Companies en large are the core producer in the modern economy. Investment is how they grow. Investments are funded by debt. Financial service providers, be it GS or any of the other actors in the sector, provide a significant portion of funding for these projects through their companies. This makes investments possible. It is a core component in the economy, yes.

> So the housing market you people created never happened?
It did, but by no means does it provide examples of fake economy, but rather of one that had lacking regulatory systems.

>Everyone would have high saving rates
>Debt would be strongly discouraged economically
I think you may have brain damage

> Government cannot magically make people rich by passing laws.
Indeed, not magically. How they do it is through transfers of funds from one part of society to another. That is quite possible.

>Yes, the whole economical establishment is completely wrong
Of course it is.
They caused the housing bubble collapse and have caused the society misery and poverty.
The newer generations are fucked.

>you're cult-sized group
It's "your".
Why are you government educated drones so fucking stupid and brainwashed?

>saying that unions were the main reason why working hours went down = being an extreme workers rights guy
Yes. It's usually "muh workers" cucks that spew this pseudoscientific myth.

No, I was referring to central banks in general.
Central banking created the great depression.

Also Switzerland has the least worst central bank and actually allows for deflation sometimes, that's why Swiss people are so rich.

But you are a pussy.

>How they do it is through transfers of funds from one part of society to another.
That doesn't mean that the part of society that got transfered funds will actually be able to spend this money as inflation increases.
Delusional.

I mean, if debt being discouraged meant high interest rates, then savings could be encouraged by high interest rate on bank deposited. But the discouraged clause is so vague that who knows. And the connection would require a high amount of mandatory reserves to truly encourage banks to pay high interest for essentially storing the cash.

>natsoc and fascist were pro-workers
>close down all unions, longer working hours, less pay

t. brainlet

austrian economics is a failure of the mind
your belief in the magical sky-daddy "free market" and his omnipotence expose you as a gibbering fool

>I think you may have brain damage
Why do low IQ people with brain damage never actually have an argument?

>So modern companies making investments are not based on rational analysis of market demands, opportunities, possibilities for growth etc?
Of course they are.
The problem is the central bank distorts what is actually good economic growth and makes poor economic investments seem extremely profitable.
see the nasdaq and housing bubble.

>Markets by large have come to find the interest rate of U.S long term bonds to be the floor of interest rates, with it, inflation and economic growth forming the lowest risk and thus lowest possible interest rate.
So?
If we had deflationary currency, this currency would constantly gain value and thus people would flock to it.

>Companies en large are the core producer in the modern economy.
The banking class mostly produces nothing and exploits people.

>Investments are funded by debt.
Some investments are.
Not all.

>It did, but by no means does it provide examples of fake economy
Of course it does.
Government money printing pumped a bunch of money into the housing sector making housing seem extremely profitable.

>had lacking regulatory systems.
I love you psychopaths with your "government killed someone so government must now magically stop the killing" nonsense

Inflation is driven by the expansion of monetary supply and markets reaction to that, not by transfer of wealth.

In modern highly developed economies, wealth transfers account to at least 20% of the economy's GDP, and up to 40% depending on the system used. And these are countries that are starved for inflation, with most trying to increase rather than decrease it. What do you make of that?

The current ones on /pol/ are which was my point.

>austrian economics is a failure of the mind
Then why do we constantly get proven right.

Why can't you discredit man economy and state by rothbard?

>your belief in the magical sky-daddy "free market"
That's like saying evolution is "magical sky-daddy".
You people are fucking cultists and your believe in a government monopolized banking system is beyond delusional.
Enjoy your panics and economic collapse.

>Inflation is driven by the expansion of monetary supply and markets reaction to that, not by transfer of wealth.
Where did I imply it was driven by transfer of wealth?

>What do you make of that?
Their governments are trying to fuck over their citizens more.

In 200 years from now central bank supporters will be commonly regarded as scam artists and pseudo scientists.
It's like they are the flat earthers/scientologists of our day.

Cryptos will DESTROY central banks and there is nothing you leftist cucks can possibly do to stop it.

>/pol/
>any coherent ideology besides fuck le niggers and da j00z

> The problem is the central bank distorts what is actually good economic growth and makes poor economic investments seem extremely profitable.
How do low interest rates make worse investments preferable over good investments?

> see the nasdaq and housing bubble.
See what about them? The latter is not very telling of investment by large as it is driven by consumer spending and has a large amount of sociocultural baggage attached to it over say, companies investing in more efficient IT solutions.

> If we had deflationary currency, this currency would constantly gain value and thus people would flock to it.
What does this have to do with my argument? What do you even mean by "flock to it"? The rational solution with predicted deflatory currency is to reduce economic activities, which damages the general economy.

> The banking class mostly produces nothing and exploits people.
There is no banking class. Financial sectors industry produces a great deal of things for the economy: financing of investments, evening out supply and demand of money, providing insurance that allows risk to be collectivized, creating a way to transfer liquidity and illiquidity and finally, an effective way for a consumer to store money.

> Some investments are, not all
Majority of investments are done with loaned capital, already for the simple reason that the annual return required for borrowed capital is much lower than the one required for own capital. Too high self-sufficiency in a company is a liability, not an asset.

> I love you psychopaths with your "government killed someone so government must now magically stop the killing" nonsense
What? I really don't understand what your trying to say here.

Ah yes, since monetary system that has more liabilities, is less liquid and has higher transactional fees surely will be the replacement.

>Daily reminder the first country to eliminate their central bank and allow free market banking will have the highest living standards on earth within 5 years.
>Giving bankers even more power
shoo shoo Goldberg

What gives the correlation between braindead ancaps and sameface anime?

>we'd also get a daily free blow job if that happened.

Azumanga Daioh isn't sameface. It's shameful that OP decided to ruin Osaka like that, though.

This takes away their power you braindead kike.
Jews hate decentralization.

Oh look another brainlet with ZERO argument.

>Osaka
Osaka is literally an ancap and it must make you really mad.

Australia has no central bank

en.wikipedia.org/wiki/Reserve_Bank_of_Australia

No one has brought up how private banks are owned by jews and nationalized Central Banks are the only way to fight them?