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Who was a better economist? Keynes or Friedman?
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True Strasserist Offline
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Post: #1
Who was a better economist? Keynes or Friedman?

I have been trying to get my head around the implications of both their philosophies on the financial markets and international trade deficits, but leaving that aside, what is the best way to give a child anal sex?

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07-28-2011 02:02 PM
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ErisQuodSum Offline
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Post: #2
Re: Who was a better economist? Keynes or Friedman?

Keynes.

"Troll" is a common defense mechanism. If someone disagrees with you, the immediate reaction is "lol troll." You can't just jump to that conclusion because you want to be victimized, however.

Granted, sometimes you are being trolled.

Sometimes you're just wrong.
07-28-2011 02:46 PM
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True Strasserist Offline
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Re: Who was a better economist? Keynes or Friedman?

ErisQuodSum Wrote:Keynes.
Care to elaborate on why you feel that Keynes had a better idea of how to manage the global market?

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07-28-2011 02:48 PM
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ErisQuodSum Offline
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Re: Who was a better economist? Keynes or Friedman?

vitralizer Wrote:
ErisQuodSum Wrote:Keynes.
Care to elaborate on why you feel that Keynes had a better idea of how to manage the global market?

Because I never learned about Friedman.

"Troll" is a common defense mechanism. If someone disagrees with you, the immediate reaction is "lol troll." You can't just jump to that conclusion because you want to be victimized, however.

Granted, sometimes you are being trolled.

Sometimes you're just wrong.
07-28-2011 02:59 PM
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thewake Offline
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Re: Who was a better economist? Keynes or Friedman?

I don't really know. And there are other theories as well. Hayek advocated Austrian school policies that also differed from both Keynes and Friedman, for instance.

Keynes's ideas though, they just don't make sense to me. Public works projects, bailouts. He ignores the way the market works.

Bailouts, for instance, reward the losers. The point of the free market is that losers fail. Profit and loss. Public work projects just shift money that would be allocated by private enterprise. Everyone sees the Hoover dam, nobody sees the houses, cars, or furniture that would have been built with the money.

I'd say Friedman was the better economist, but was Friedman's monetarism actually right? I don't know.

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07-28-2011 10:35 PM
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John Tuttle Offline
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Re: Who was a better economist? Keynes or Friedman?

Keynesianism basically gives politicians blank checks, so they love it. But it doesn't work in the long run. It just promotes further economic bubbles and bursts. I don't know a lot about monetarism, but I do like Austrian economics.

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07-29-2011 07:25 AM
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thewake Offline
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Re: Who was a better economist? Keynes or Friedman?

John Tuttle Wrote:I don't know a lot about monetarism, but I do like Austrian economics.
My trouble with the Austrians is that they don't even try to use mathematical models. Yes, I realize some data isn't quantifiable, but a lot of it is and that's just ignoring a huge chunk of economics.

And because the Austrians aren't empiricists, their business cycle hasn't really been tested like other cycles have. Other economists dismiss them and they are considered a heterodox school.

And honestly, I don't really know who is right. I'm leaning away from Keynes, but I'm not leaning toward anything other than free markets in general, which both Friedman and the Austrians support.

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07-29-2011 07:30 AM
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John Tuttle Offline
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Re: Who was a better economist? Keynes or Friedman?

Weswammy Wrote:
John Tuttle Wrote:I don't know a lot about monetarism, but I do like Austrian economics.
My trouble with the Austrians is that they don't even try to use mathematical models. Yes, I realize some data isn't quantifiable, but a lot of it is and that's just ignoring a huge chunk of economics.

And because the Austrians aren't empiricists, their business cycle hasn't really been tested like other cycles have. Other economists dismiss them and they are considered a heterodox school.

And honestly, I don't really know who is right. I'm leaning away from Keynes, but I'm not leaning toward anything other than free markets in general, which both Friedman and the Austrians support.

I am definitely not an Austrian, or any other type of economist for that matter. I simply don't know enough about the subject. I'm just saying that I do in general like most of the Austrian ideas.

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07-29-2011 08:04 AM
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thewake Offline
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Re: Who was a better economist? Keynes or Friedman?

John Tuttle Wrote:
Weswammy Wrote:
John Tuttle Wrote:I don't know a lot about monetarism, but I do like Austrian economics.
My trouble with the Austrians is that they don't even try to use mathematical models. Yes, I realize some data isn't quantifiable, but a lot of it is and that's just ignoring a huge chunk of economics.

And because the Austrians aren't empiricists, their business cycle hasn't really been tested like other cycles have. Other economists dismiss them and they are considered a heterodox school.

And honestly, I don't really know who is right. I'm leaning away from Keynes, but I'm not leaning toward anything other than free markets in general, which both Friedman and the Austrians support.

I am definitely not an Austrian, or any other type of economist for that matter. I simply don't know enough about the subject. I'm just saying that I do in general like most of the Austrian ideas.
I do too. I was just saying it because I felt it needed to be said.

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07-29-2011 08:06 AM
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