Tuesday, January 13, 2009
Praise for My Piece on "Depression Economics"
My recent Mises.org piece on Krugman/Thoma's "the normal rules don't apply in a depression"-argument is getting a lot of commentary, as these things go. Mario Rizzo gives it a plug, and David Henderson wrote a very nice post today over at EconLog. My favorite line: "But you can unbundle Murphy's package." To learn the context of that (complete) quotation, you will have to read the post.
Comments:
Bob,
I popped over to read both articles you referenced herein, including the Mario Rizzo article and commentary. Great job inciting further discussion!
I posted a comment of my own on the Mario Rizzo article regarding these matters, and therein asked the following question regarding K-wave, Elliot-wave, and "Jubilee-cycle" theories in the light of all that is transpiring these days economically (which comment is currently awaiting moderation):
Question: Are any of you familiar with the Russian economist, Nikolai Kondratieff, and the “K-wave” theory (nicknamed after him)? His concept seems to be supported also by the research of Ralph Nelson Elliott (made famous in recent times by Robert R. Prechter, Jr) and his “Elliot-wave” theory.
My question is mainly theoretical for you gentlemen, but on my part also theological, since I am a Christian minister and see a tie between the above theories and the “Jubilee-cycle” of Scripture. So do any of you have thoughts on the above theories from your perspective (i.e. not necessarily the theology which perhaps more my forte than yours)? Any comments might prove helpful (and perhaps Bob Murphy might want to throw in some additional comment on the theology if he has any).
Here is a link regarding the “Jubilee Cycle” in reference to K-waves for your reference: http://www.gold-eagle.com/gold_digest_00/droke120100.html
And charts regarding the Elliot Wave theory, and how that may be playing out with regard to three different wave phenomena simultaneously: http://users.rcn.com/virtual.nai/sot/charts.html
Bob: I would appreciate your commentary therein, especially since you are Austrian in your economics (which I believe is the most biblical) while also being Christian in your core beliefs.
Please consider also posting an article about these concepts here on your blog.
Thank you,
-Rev. Rich Vermillion
I popped over to read both articles you referenced herein, including the Mario Rizzo article and commentary. Great job inciting further discussion!
I posted a comment of my own on the Mario Rizzo article regarding these matters, and therein asked the following question regarding K-wave, Elliot-wave, and "Jubilee-cycle" theories in the light of all that is transpiring these days economically (which comment is currently awaiting moderation):
Question: Are any of you familiar with the Russian economist, Nikolai Kondratieff, and the “K-wave” theory (nicknamed after him)? His concept seems to be supported also by the research of Ralph Nelson Elliott (made famous in recent times by Robert R. Prechter, Jr) and his “Elliot-wave” theory.
My question is mainly theoretical for you gentlemen, but on my part also theological, since I am a Christian minister and see a tie between the above theories and the “Jubilee-cycle” of Scripture. So do any of you have thoughts on the above theories from your perspective (i.e. not necessarily the theology which perhaps more my forte than yours)? Any comments might prove helpful (and perhaps Bob Murphy might want to throw in some additional comment on the theology if he has any).
Here is a link regarding the “Jubilee Cycle” in reference to K-waves for your reference: http://www.gold-eagle.com/gold_digest_00/droke120100.html
And charts regarding the Elliot Wave theory, and how that may be playing out with regard to three different wave phenomena simultaneously: http://users.rcn.com/virtual.nai/sot/charts.html
Bob: I would appreciate your commentary therein, especially since you are Austrian in your economics (which I believe is the most biblical) while also being Christian in your core beliefs.
Please consider also posting an article about these concepts here on your blog.
Thank you,
-Rev. Rich Vermillion
Bob,
Great piece on Krugman's bridge building nonsense.
Fundamentally, all he offers is the same old arrogant statist "thinking", which, in it's general form goes something like this: "I'm smarter than free people functioning in a free market, therefore I'll take resources by force or threat of force and use them according to my superior plan." Of course he doesn't want to actually be the tax collector; he just wants to be "da MAN". Please God, deliver us from central planners, especially ones with Nobel prizes.
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Great piece on Krugman's bridge building nonsense.
Fundamentally, all he offers is the same old arrogant statist "thinking", which, in it's general form goes something like this: "I'm smarter than free people functioning in a free market, therefore I'll take resources by force or threat of force and use them according to my superior plan." Of course he doesn't want to actually be the tax collector; he just wants to be "da MAN". Please God, deliver us from central planners, especially ones with Nobel prizes.
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