/auseco/ Austrian school of economic thought

gemmy

what is this nophono

>Rothbard
"In short, we must face the fact that the purely free society will have a flourishing free market in children." - Murray N. Rothbard
>"Socialism is an alternative to capitalism as potassium cyanide is an alternative to water." - Ludwig von Mises
Mises' pinnacle work in his 1920 "Economic Calculation in the Socialist Commonwealth" claimed that a planned economy is impossible because "economic calculation requires prices" (exchange value). He believed it would be too computationally expensive to plan an economy otherwise.
This is practically disproven by the subsequent invention of computers which can trivially perform the millions of calculations necessary. And it is factually disproven by the existance of in-kind planning within e.g. supermarkets or megacorporations in a capitalist state.
Austrian-school thinkers point to it as a refutation of socialism anyway, to this day, because they haven't actually read it.

Austrian economics is an academic relic which is only taken seriously by the ruling clique of international rent-seekers insofar as it manufactures consent for their total economic domination of the working man. If you are proletarian and believe in Austrian economics, you are literally a cuck for TCC (tiny capitalist cock).

muscular_engineer↗

>Rothbard
"In short, we must face the fact that the purely free society will have a flourishing free market in children." - Murray N. Rothbard
>"Socialism is an alternative to capitalism as potassium cyanide is an alternative to water." - Ludwig von Mises
Mises' pinnacle work in his 1920 "Economic Calculation in the Socialist Commonwealth" claimed that a planned economy is impossible because "economic calculation requires prices" (exchange value). He believed it would be too computationally expensive to plan an economy otherwise.
This is practically disproven by the subsequent invention of computers which can trivially perform the millions of calculations necessary. And it is factually disproven by the existance of in-kind planning within e.g. supermarkets or megacorporations in a capitalist state.
Austrian-school thinkers point to it as a refutation of socialism anyway, to this day, because they haven't actually read it.
Austrian economics is an academic relic which is only taken seriously by the ruling clique of international rent-seekers insofar as it manufactures consent for their total economic domination of the working man. If you are proletarian and believe in Austrian economics, you are literally a cuck for TCC (tiny capitalist cock).

Thanks for the response, I thought this thread died and forgot about it.
>invention of computers
It is not only about the computational power required. It also relies on the input data which you feed into this hypothetical AI super-computer, this input data would be impossible to collect at all, because it itself is generated by the market.
>in-kind planning
You know what you can produce, but you don't know what people will buy, you still run into inefficiency.
>If you are proletarian and believe in Austrian economics
Yes and yes, however I'm not unquestionably confident on believing this ideology, it's just what I've taken interest in. If you don't mind, and have the time to, I would appreciate if you talked more about your own beliefs.
>tiny capitalist cock
snopes?

Laissez_Faire↗unverified

this input data would be impossible to collect at all, because it itself is generated by the market.

By "input data" do you mean production data, material input quantities, labor availability, fixed capital availability, consumer preference, etc. (All information which could be measured and input into such a system), or another datum?
I don't see how fundamentally any information available to a CEO or investor could not also be made available to a computer system. A lot of CEO decisions are made based on precisely these computerized metrics already.

You know what you can produce, but you don't know what people will buy, you still run into inefficiency.

Finding out what people will buy is done under capitalism by people (market researchers, investors, innovators), no reason it couldn't be done similarly under a planned economy. Of course without profit motive they may be less motivated to produce and sell unethical products - e.g., what is the incentive to invest new addictive drugs, techslop, etc. between the two situations?

If you don't mind, and have the time to, I would appreciate if you talked more about your own beliefs.

Something I have been thinking about is the value (positive/negative) of innovation.
It's an unstated pillar of many ideologies that more innovation, more efficiency, etc. is inherently good. I think it could be very dangerous.

Think of human knowledge as a small subsection of a larger problem space, containing all found and unfound innovations. Some may be beneficial (Aspirin). Others may be destructive (Nerve agents). Yet others have dual uses (Nuclear power/Nuclear weapons). As we discover things our knowledge grows in different directions, it's like a tech tree.
If we discover something new, it won't be undiscovered. Therefore we should be careful about where we innovate, because we have already discovered technology with the potential to fuck us over big time.

The free market is very good at causing innovation but it doesn't really care about good or bad, just prices. If we keep a free market system I think we are going to discover a lot of nasty stuff and eventually the "bad" things the market discovers will destroy society. Look at how badly even a small invention like Tinder destroyed social dynamics.

If we have a planned economy maybe it would be less efficient but maybe we could control what gets discovered more closely. avoiding the most dangerous research while spending more time adapting to the rapid changes industrialization is doing to us.

Of course this assumes the planned economy has world dominance. If it's directly competing with a capitalist country it would lose because maximum innovation helps you win wars even if it also produces a lot of stuff you don't like which will fuck you pyrrhically in the long term.
A free market can help you win but then it will fuck you always in the long term imo

snca

Who are you

ok