These videos ought to be mandatory viewing for anyone who has any interesting in discussing politics on Cemetech. Also, they are epic awesome.





That's pretty much all I have to say on the subject, but feel free to take the poll too.

I've never seen that second video. The first is amazing.

Glad you enjoyed!

I watched the second one for the first time just now, while I still believe the first to be the best, it's just as educational.

Now, to watch the first one for the 100th time <3

/me thinks it's kinda odd how everyone agrees with hayek. Maybe programmers are more inclined to be liberal/libertarian.

Libertarians are most often inclined to agree with Hayek. Liberals are most often inclined to agree with Keynes. Don't confuse the two.

What are conservatives, and reactionarys then?

"Reactionaries"? What do you mean by this?


Conservatives are all over the place, but in general....neo-conservatives (Bush, etc) tend to be Keynesian, traditional/paleo-conservatives (who lean libertarian) would tend towards Austrian economics (agreeing with Hayek), and social conservatives are split (Santorum is a Keynesian, evangelical supporters of Ron Paul are going to be Austrians).

Mussolini was reactionary. he wanted to bring Italy back into its glory days, complete with all the roman laws and casts.

I think you made a typo there and said Austrians agreed with Keynes there elfprince13.

That said I think there are merit to both arguments. You need to get cash flowing but viewing that cash as free and debt as no problem will get you right back to where you started. If you properly spend the money on things that will help the private sector, mainly infrastructure and schools, and don't over spend yourself into a hole then it will help. But this isn't gonna happen and our government seems set on wasteful spending and poor/failed oversight and regulation, protect the people in places capitalism cannot otherwise GTFO.

I agree with everything here, except the cynicism at the end. I think we can fix the problems with government spending if enough people are willing and educated enough to do so, and can elect consistent long-term leadership with the same unified goal.

So I did. Thank you.

The problem is thus: People are greedy idiots. There is nothing that we can change about that. We may have some people who are not greedy idiots, but the majority of people are. They thing "ME ME ME" not "If I follow this 'Unified Plan,' it will be better for everyone, including me."

here's another video from the same people.

I wonder, the people behind this channel seem to obviously favor the austrian school of economics, does this lead to them unfairly giving the keynesian school a bad light?

Thanks for sharing

I don't think they've actually misrepresented any Keynesian positions, which is more than can be said for most Keynesian's discussing Austrian positions.

Those were awesome, thanks o.o I worry that the approach that Keynesian economics uses is oversimplified. If you want to use formulas, you are not going to get far and the formulas will often miss the mark. That being said, I think more simplification provides a better insight: We have finite resources. The more we use, the less we have. The less we use, the more we have. We have a mostly closed system, so it isn't like the resources disappear, but they do get changed, and to change them back requires external energy or time. If you can efficiently replace used resources, then apply the Kaynesian model. If you cannot, use Hayek's and don't be afraid to stock up on resources.

A decent cycle would be corn→food for cows→manure/fertiliser. It isn't completely free of loss, but it is rather efficient and has more uses that can be extracted from the byproducts. "Stuff" (like in the Macro Follies video) does not have a nice cycle like this, so consumers should be more careful with spending. This is not to say that you should go out and buy a bunch of corn just because it is potentially easy to replace