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Austrian School + Monetarism - Empiricism = Monetarianism
Michael J. Hoffman retweeted
Mr. Graeber was so intent on criticising Menger that he apparently forgot to read him. For, if Mr. Graeber had even a modicum of interest in expressing an honest argument (difficult to do, of course, with the greatly limited extent of his 'intelligence'), he would have quickly realised that in Geld Menger lists a characteristic of the exchangability of money as goods which are used in gifts and obligations as a result of 'repeated unilateral performances'; i.e. debt. Cf. Carl Menger and the Evolution of Payment Systems, [p. 30].
Michael J. Hoffman retweeted
Not saying I told you so, but I told you so
Michael J. Hoffman retweeted
Graeber has a habit of criticizing writings he never bothered to read. Here he assumes that a post by me answered him by defending what he calls the “myth of barter,” when instead it argued that Smith and Menger, economists he accuses of subscribing to that myth, didn’t.
Replying to @JulienNoizet @Exnihlo89
almost all the ridiculous arguments by Selgin were anticipated long before he wrote them and refuted in this piece. The only people who still cling to the myth of barter do so for strictly theological reasons
nakedcapitalism.com/2011/09/…
Michael J. Hoffman retweeted
‘Libertarians’ out here defending holocaust denial good lord what has that ideology come to
Michael J. Hoffman retweeted
“Capitalism emerged when people began discovering that wealth could be created rather than merely captured”
The best, most comprehensive take on AI I’ve read. After a year of confusion and fear about the future, I finished it feeling like a weight had physically lifted.
It’s long. Make the time.
@vgr is undefeated.
contraptions.venkateshrao.co…
Michael J. Hoffman retweeted
Christ have mercy…
More than 60 Christians killed in Ethiopia 'massacre', church official says bbc.in/4e11nug
Michael J. Hoffman retweeted
There’s a reason the great dystopian novels envision a world without literacy. Those books warned about the very age we’re now living in. Those who abandon reading & writing are surrendering their powers of thinking. What’s shocking is that so many would surrender so readily.
Michael J. Hoffman retweeted
Those who hate Hayek despise discussion and the exchange of ideas. Common Hayek W
Replying to @ProfHall1955
Have you considered that perhaps you just aren't taking Hayek seriously enough?
Michael J. Hoffman retweeted
You can also go to a public library and have a conversation with a librarian that might help you expand your taste and worldview instead of merely affirming it. They’ll even let you check out the books for free.
Michael J. Hoffman retweeted
Weird that when a job is dominated by women there are no calls for equality in that field. In fact those women get very protective of it and actively try to keep men out.
"Today, the Big Five publishers are staffed almost entirely by women. According to the most recent data, more than 70 percent of staffers are women. More than 70 percent of editors are women. Even 70 percent of all interns are women. At the executive level, more than 60 percent of leaders are women. In 2026, American publishing looks like lululemon."
Michael J. Hoffman retweeted
No sólo es que Hayek haya pisoteado lo que quedaba de la teoría marxista a mediados del siglo XX (al demostrar que el sistema de precios es un sistema no-diseñado de comunicación sin el cual ninguna sociedad relativamente civilizada puede operar). Es que Menger ya había derrumbado la base del marxismo en 1871 al demostrar que el valor es subjetivo, con lo cual se cae la teoría del valor trabajo (sin la cual Marx es irrelevante).
Ni hablar de que Mises en 1920 demostró que el cálculo económico en un sistema socialista (sin propiedad privada y precios / comercio en bienes de orden superior) es imposible (por eso siempre fracasan sus experimentos; la lista de países que este chisgarabís pasa por alto es larguísima).
Por eso también estos comunistas odian a la Escuela austríaca y tenían tanto miedo hace unos meses de que se aplicaran medianamente sus principios en Colombia (lo cual no sucedió).
¿Y nos va a dar vergüenza hablar de Marx?
Estos payasos quieren dar una supuesta “batalla cultural” con economistas delirantes que nunca tuvieron transcendencia mientras la gente supo leer; se han hecho conocidos desde que los referentes del pensamiento son bachilleres como @SoyJerome__ ¡Idiotas útiles del gran capital!
Las tesis de los libertarios solo se aplican en Bangladesh, ahí es donde se hace realidad la utopía del libre mercado.
La realidad es bien distinta, la URSS, convirtió a la monarquía más atrasada de Europa en una superpotencia nuclear que salvó al mundo del fascismo y puso por medio siglo en jaque a EE.UU. Y desde hace 50 años, la R.P. China, conducida por el Partido Comunista, ha desarrollado el país como no lo había hecho nadie en la historia de la humanidad: más de mil millones de personas salieron de la miseria.
El desmonte del Estado es riqueza para los megaricos y miseria para las mayorías, pueden esperar 500 años y la pobreza no desaparece por gracia del mercado. Es posible generar riqueza en modelos con Estados robustos, con impuestos altos, incluso con economías centralizadas. Lo demuestra la realidad no la retórica.
La ministra de cultura de Colombia se atreve a enarbolar una teología del mercado, una caricatura de unicornios y elfos, mientras aún hay “izquierdistas” a los que les da vergüenza un afiche del buen Marx.
¡Si quieren una guerra cultural, ellos tienen las caucheras del delirio y nosotros la artillería pesada de la realidad!
Michael J. Hoffman retweeted
"Even Heaven had to go to war to protect its peace. Never apologize for drawing a line that kindness couldn't hold."
Michael J. Hoffman retweeted
Anti-fraxers should at least try to argue consistently: either fractional reserve banking is a deceptive “pyramid of fraud,” in which case it should be illegal, or consenting adults should be allowed to engage in it as long as they bear all the risks.
Replying to @ctindale @mattwridley
This is a fine analysis, Craig, but you missed the point that fractional reserve banking is a pyramid of fraud.
Banks MUST be allowed to fail. People who deposit money in risky banks MUST face losses. Governments should NEVER bail out banks.
Murray Rothbard got it right.
Michael J. Hoffman retweeted
The problem with “heterodox economics” is that when proven to be accurate it’s eventually just called “economics”
Michael J. Hoffman retweeted
Thread 🧵 Today’s reading for PhD Austrian with @PeterBoettke












































