I am an MBA student and fulltime employed. I’m taking Macroeconomics class with a Keynesian professor. I am an engineer by profession, so I don’t have a profession economics background. I am very open minded to learn Keynesianism, but I also want to be able to challenge the professor. Time is an issue. Is this program going to be interactive? Will you take questions offline?
BTW Roger Garrison was an engineer first, and he says that’s a great background for Austrian econ. The program is interactive in the sense that I will answer some questions “live” and also during office hours. But it’s fine if you miss the actual live lectures, and yes you can post questions in the forum and I’ll answer them.
Thanks. I have signed up for the course. I am working fulltime as a software development team lead and trying to do a 25 hour product management internship+ 1 macro econ course this summer. But I think it is important that I do your course to learn both sides of the story at the same time.
I’ve taken three Mises Academy courses from Bob Murphy and Tom Woods.
Yes, they answer all questions.
Most important to me, you can miss the live show and download the entire lecture the next day as an mp3 file for your iPod and permanent mp3 collection. Further, most of the reading is free and you can download that into your own special course folder you create on your computer. So you can repeat each lecture later as your brain dies a little every month or so when you have forgotten what you learned due to senility.
Could you send me links to the charts you used in that video ( in response to Reich)? My professor made comments similar to Reich’s. I want to send those to her.
How did books get so expensive since then? A true mystery.
Well you see, the reason why the prices for books have gone up is because of the magical three, permanent, scientific, and non-Fed-generated events: growing paper demand from emerging markets, political instability from paper exporting nations, and rise in the price of oil.
That depends, mam-mouth. If your productivity depends upon picking coconuts, then most assuredly you pay for the course in coconuts, even if you ultimately use a medium of exchange to redeem the benefit of that coconut produce. Certainly, I don’t pay for my meals with the mercury, asbestos and PCBs that I remove from coal-fired powerplants, but that is the service that I provide to the world.
No matter what the medium of exchange or what production that I or you give to the world that is demanded, we ultimately must supply that demand. Sure, I could print up some money, but that still leaves the world at net zero. There is nothing gained by engaging in the activity of printing money, nothing more has been created, and due to the reduction in the interest rate a great deal of capital has been wasted. But, hey, we’re just talking coconuts, right?
No, but I would assure you that I have pushed out more 40-yard dumpsters worth of copper, cobalt, steel, nickel, etc to entirely dwarf your life’s earnings. The difference is that I see the productivity put into this endeavor, whereas you think that you can just print more notes.
Sorry, buddy. But, the notes that you would print mean nothing without productivity. If you question this, then go ahead and take yourself and a billion dollars to a deserted island and see how far you get. You wouldn’t last a week. This would be true even if you had a companion and a great abundance of resources.
Mam-Mouth’s claim to fame as a star of MMT is his inability to understand the essential similarities between a barter and monetary economy and his inability to understand the nature of savings as foregoing immediate consumption. Nevertheless, he refocuses attention upon these pathetic shortcomings by constantly bringing up “coconuts” in these comments while acting as if he has put something over on us. It is beyond bizarre.
Look at Bob Wenzel’s description of your video on his website:
“Don’t let Murphy’s mild manner in this video fool you. He is a modern day gladiator, fighting economic untruths wherever he finds them. By the end of this course, he will destroy Krugman, have him crying at his NYT cubicle, and even cause Krugman to think about returning his Nobel Prize.”
Anyone else see the massive Krugman Kontradiction today? His blog talked about the Reagan tax hikes to show that raising taxes doesn’t bring disaster. Earlier he had been using the example of Reagan to show that tax cuts don’t raise revenue relative to GDP. I wish he would decide what Reagan actually did and stick with it.
I think Reagan’s greatest contribution was to rhetorically destroy the ideal of socialism as hip amongst the hipsters. Further, I always felt that Keynes was attempting (and succeeded) in replacing socialism with Keynesianism as the goal of the parasitic elite.
That’s why Keynesianism is now so hip, because the Keynesians will now claim that they aren’t socialists but capitalists. Ever notice how upset a Keynesian gets when you imply he’s a central planner?
“Ever notice how upset a Keynesian gets when you imply he’s a central planner?”
Yes, I have noticed. Ever read the “Consequences of the Peace”? There is little doubt that Keynes had some socialistic ideas, or that he had some “Fabian” influences. Sure, he acted as if he did not, but I just don’t buy it. One cannot believe in capitalist markets on the one hand, and then push governmental control on the other, they are mutually exclusive.
The entire edifice of modern economics is to control markets. With that said, how can they hide their intentions?
That’s obvious. It’s because President George Bush is cutting eduction spending. Schools have to make up for the loss by charging the students more. This is what happens when we move away from the Garden of SwEden model. It’s nothing but GREED. To hell with the students.
I’m going to need this course to make my progressive college professors mad. Less than a week left!
Professor Murphy,
I am an MBA student and fulltime employed. I’m taking Macroeconomics class with a Keynesian professor. I am an engineer by profession, so I don’t have a profession economics background. I am very open minded to learn Keynesianism, but I also want to be able to challenge the professor. Time is an issue. Is this program going to be interactive? Will you take questions offline?
Thanks,
BTW Roger Garrison was an engineer first, and he says that’s a great background for Austrian econ. The program is interactive in the sense that I will answer some questions “live” and also during office hours. But it’s fine if you miss the actual live lectures, and yes you can post questions in the forum and I’ll answer them.
Thanks. I have signed up for the course. I am working fulltime as a software development team lead and trying to do a 25 hour product management internship+ 1 macro econ course this summer. But I think it is important that I do your course to learn both sides of the story at the same time.
I’ve taken three Mises Academy courses from Bob Murphy and Tom Woods.
Yes, they answer all questions.
Most important to me, you can miss the live show and download the entire lecture the next day as an mp3 file for your iPod and permanent mp3 collection. Further, most of the reading is free and you can download that into your own special course folder you create on your computer. So you can repeat each lecture later as your brain dies a little every month or so when you have forgotten what you learned due to senility.
Thanks Bob Roddis.
Murphy,
Could you send me links to the charts you used in that video ( in response to Reich)? My professor made comments similar to Reich’s. I want to send those to her.
I got them from the St. Louis Fed’s FRED website. If you play around with it you should be able to generate them pretty quickly.
As I recall, the weekly Q&A session is also recorded as a separate MP3 audio file to save and relish forever.
In the olde days (1974) you could buy Rothbard on cassette if you wanted a lecture (page 8):
http://www.libertarianism.org/lr/LR7412.pdf
I still own “The Inflationary Boom of the 1920s” and it still plays.
Many books back then were $1 or $2. How did books get so expensive since then? A true mystery.
How did books get so expensive since then? A true mystery.
Well you see, the reason why the prices for books have gone up is because of the magical three, permanent, scientific, and non-Fed-generated events: growing paper demand from emerging markets, political instability from paper exporting nations, and rise in the price of oil.
Can you pay for the course in coconuts?
Why? MamMoths die because of a shortage of coconuts or brainnuts?
That depends, mam-mouth. If your productivity depends upon picking coconuts, then most assuredly you pay for the course in coconuts, even if you ultimately use a medium of exchange to redeem the benefit of that coconut produce. Certainly, I don’t pay for my meals with the mercury, asbestos and PCBs that I remove from coal-fired powerplants, but that is the service that I provide to the world.
No matter what the medium of exchange or what production that I or you give to the world that is demanded, we ultimately must supply that demand. Sure, I could print up some money, but that still leaves the world at net zero. There is nothing gained by engaging in the activity of printing money, nothing more has been created, and due to the reduction in the interest rate a great deal of capital has been wasted. But, hey, we’re just talking coconuts, right?
Are you trying to replace Dr. Murphy as the zombie in Tom Woods next video?
interviewwithamammoth.com
Dan, I hope the Zombie’s feelings aren’t hurt by your insensitive comparison to Mam-Mouth.
I don’t think he has saved enough coconuts to afford my mammothian wages.
No, but I would assure you that I have pushed out more 40-yard dumpsters worth of copper, cobalt, steel, nickel, etc to entirely dwarf your life’s earnings. The difference is that I see the productivity put into this endeavor, whereas you think that you can just print more notes.
Sorry, buddy. But, the notes that you would print mean nothing without productivity. If you question this, then go ahead and take yourself and a billion dollars to a deserted island and see how far you get. You wouldn’t last a week. This would be true even if you had a companion and a great abundance of resources.
Why would I want to take myself to a deserted island with a billion dollars?
You could burn them for years if it got cold, assuming they were small denominations. Also you could try to signal to rescue planes.
That does not answer my question, but proves that paper money is far superior to gold even in a deserted island.
Who takes biliion dollars in paper. It’ll take a large ship. Instead take your electronic bank account into deserted island.
Mam-Mouth’s claim to fame as a star of MMT is his inability to understand the essential similarities between a barter and monetary economy and his inability to understand the nature of savings as foregoing immediate consumption. Nevertheless, he refocuses attention upon these pathetic shortcomings by constantly bringing up “coconuts” in these comments while acting as if he has put something over on us. It is beyond bizarre.
I understand the similarities, you don’t understand the fundamental differences.
Why don’t you list the similiarities you claim to understand and the fundamental differences I supposedly don’t understand?
Nooo, but just send your bank account number to phisher@fakebank.info an’ we can set you up with a deal…
Look at Bob Wenzel’s description of your video on his website:
“Don’t let Murphy’s mild manner in this video fool you. He is a modern day gladiator, fighting economic untruths wherever he finds them. By the end of this course, he will destroy Krugman, have him crying at his NYT cubicle, and even cause Krugman to think about returning his Nobel Prize.”
http://www.economicpolicyjournal.com/2011/06/bob-murphy-on-keynes-krugman-and-crisis.html
Anyone else see the massive Krugman Kontradiction today? His blog talked about the Reagan tax hikes to show that raising taxes doesn’t bring disaster. Earlier he had been using the example of Reagan to show that tax cuts don’t raise revenue relative to GDP. I wish he would decide what Reagan actually did and stick with it.
In all fairness, Reagan did both. However, he also dramatically increased the deficit.
I think Reagan’s greatest contribution was to rhetorically destroy the ideal of socialism as hip amongst the hipsters. Further, I always felt that Keynes was attempting (and succeeded) in replacing socialism with Keynesianism as the goal of the parasitic elite.
That’s why Keynesianism is now so hip, because the Keynesians will now claim that they aren’t socialists but capitalists. Ever notice how upset a Keynesian gets when you imply he’s a central planner?
“Ever notice how upset a Keynesian gets when you imply he’s a central planner?”
Yes, I have noticed. Ever read the “Consequences of the Peace”? There is little doubt that Keynes had some socialistic ideas, or that he had some “Fabian” influences. Sure, he acted as if he did not, but I just don’t buy it. One cannot believe in capitalist markets on the one hand, and then push governmental control on the other, they are mutually exclusive.
The entire edifice of modern economics is to control markets. With that said, how can they hide their intentions?
I was just wondering…….if there is no inflation, why did no Michigan government university raise its tuition rates by less than 6.6% this year?
http://tinyurl.com/3o5kl2m
That’s obvious. It’s because President George Bush is cutting eduction spending. Schools have to make up for the loss by charging the students more. This is what happens when we move away from the Garden of SwEden model. It’s nothing but GREED. To hell with the students.