The Austrian Economics Wiki - User contributions [en]

Austrian Economics Wiki:Meetups

2012-01-07T23:01:12Z

173.245.48.236: /* West */

The [[Austrian School of Economics]] is becoming more and more popular all over the world. This page lists meetups (mostly informal but somewhat regular face-to-face meetings) to help anyone interested to find like-minded individuals for study and friendly exchange:
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''(Some pages may require membership to display all details.)''


==United States==
===Atlantic===
* [http://www.uncwlibertarians.com/ UNCW Libertarians], Wilmington, NC
* [http://www.meetup.com/TriLiberty/ Triangle Liberty (TriLiberty)], Raleigh, NC
* [http://www.meetup.com/C4L-Cumberland-County-NC/ Campaign For Liberty Cumberland County, NC], Fayetteville, NC
* [http://www.meetup.com/nycancap/ New York Anarcho-Capitalists], New York, NY
* [http://www.meetup.com/NY-Free-State-Project/ NY - Free State Project], New York, NY
* [http://www.meetup.com/NY-Libertarians/ The New York Libertarian Party Meetup Group], New York, NY
* [http://www.meetup.com/The-Society-of-Libertarian-Entrepreneurs-NYC/ The Society of Libertarian Entrepreneurs (NYC)], New York, NY
* [http://www.meetup.com/AndersonAreaCampaignforLiberty/ Anderson Area Campaign for Liberty], Anderson, SC
* [http://www.meetup.com/libertarian-352/ Lowcountry Libertarians], Charleston, SC
* [http://www.meetup.com/SCforRonPaul2012/ South Carolina for Ron Paul 2012], Lexington, SC
* [http://www.meetup.com/Monthly-Macro/ Monthly Macro], Chantilly, VA
* [http://www.meetup.com/Freedom-Forum-And-Network/ Freedom Forum & Network], Philadelphia, PA

===North central===
* [http://www.facebook.com/home.php?sk=group_170364806325931 The Rockford Mises Circle], Rockford, IL
* [http://www.meetup.com/ECI912/ East Central Illinois 912], Danville, IL
* [http://www.meetup.com/thegreenanchor/ The Green Anchor - An Austrian Economics Meetup], Minneapolis, MN
* [http://www.meetup.com/stpaul4ronpaul2012/ St. Paul 4 Ron Paul], Saint Paul, MN
* [http://www.facebook.com/home.php?sk=group_135129876537369 The Saturday Night Austrian; a Twin Cities West Group], MN
* [http://wi.rlc.org/ The Republican Liberty Caucus of Wisconsin], Milwaukee, WI
* [http://www.meetup.com/SOLE-Wisconsin/ SOLE Wisconsin], Madison, WI
* [http://www.meetup.com/sole-arc/ Society of Libertarian Entrepreneurs (Arcadia • NH, VT, ME)], Portsmouth, NH

===South===
* [http://www.meetup.com/Orlando-Supply-Side-Forum/ Supply Side Forum Orlando Meetup], Orlando, FL
* [http://www.meetup.com/ronpaul-242/ St. Pete - Ron Paul for President 2012], Seminole, FL
* [http://www.meetup.com/sglibertarians/ south georgia libertarians], Moultrie, GA
* [http://www.RothbardCircle.com/ The Rothbard Circle], Atlanta, GA
* [http://www.bravenewbookstore.com/ Brave New Books: Rothbard Reading Group], Austin, TX
* [http://www.meetup.com/The-Society-of-Libertarian-Entrepreneurs-Dallas/ The Society of Libertarian Entrepreneurs (Dallas)], Dallas, TX
* [http://www.meetup.com/Conroe-Area-Ron-Paul-Meetup-Group/ Conroe Area Ron Paul Meetup Group], Conroe, TX
* [https://www.facebook.com/pages/Asheville-Mises-Group/121864951222258?sk=wall Asheville Mises Group], Asheville, NC

===West===
* [http://www.meetup.com/Austrian-Economists-Objectivists/ Valley Austrian Economists], Phoenix, AZ
* [http://www.meetup.com/Libertarian-Entrepreneurs-in-Los-Angeles/ Libertarian Entrepreneurs in Los Angeles], Los Angeles, CA
* [http://www.meetup.com/Libertarian-Entrepreneurs-in-San-Jose/ The Society of Libertarian Entrepreneurs (San Jose)], San Jose, CA
* [http://www.meetup.com/Seattle-Anarcho-Capitalism/ Seattle Anarcho-Capitalism], Seattle, WA
* [http://www.meetup.com/The-Seattle-Austrian-Economics-Meetup-Group/ The Seattle Austrian Economics Meetup Group], Seattle, WA
* [http://www.meetup.com/Olympic-Peninsula-Ron-Paul-Meetup/ Olympic Peninsula Ron Paul Meetup], Port Townsend, WA
* [http://www.meetup.com/Society-of-Libertarian-Entrepreneurs-Ohio/ Society of Libertarian Entrepreneurs (Ohio)], Bolivar, OH
* [http://www.meetup.com/ClevelandLibertyRepublicans/ Ohio Liberty Republicans], Cleveland, OH

==Canada==
* [http://www.meetup.com/RedDeerLibertarian/ The Red Deer Libertarian Meetup Group], Red Deer, AB
* [http://www.meetup.com/CalgaryLibertarian/ The Calgary Libertarian Meetup Group], Calgary, AB
* [http://www.meetup.com/the-lloydminster-libertarian-meetup-group/ Lloydminster Libertarian Meetup Group], Lloydminster, AB
* [http://www.meetup.com/Edmonton-Libertarian/ The Edmonton Libertarian Meetup Group], Edmonton, AB
* [http://www.meetup.com/victoria-libertarian-bookclub/ The Victoria Libertarian Book Club], Victoria, BC
* [http://www.meetup.com/vancouver-libertarian-bookclub/ The Vancouver Libertarian Book Club], Vancouver, BC
* [http://www.meetup.com/Austrian-Economics-Toronto/ Austrian Economics Canada], Toronto, ON

==Europe==
* [http://freiheitsfreunde.net/ Freiheitsfreunde], numerous cities in German-speaking countries
* [http://www.meetup.com/Muenchner-Libertarier/ Münchner Libertarier], Munich, Germany
* [http://www.meetup.com/Austrian-Economics-Meetup-Vienna/ Austrian Economics Meetup Vienna], Vienna, Austria
* [http://wertewirtschaft.org/philosophicum/ Institut für Wertewirtschaft Philosophicum], Vienna, Austria
* [http://www.facebook.com/group.php?gid=171494662868840 London Mises Circle], London, United Kingdom
* [http://www.austriacy.pl Kluby Austriackiej Szkoły Ekonomii], main site for of the ASE Clubs (KASE) with the Polish [http://mises.pl Mises Institute].
* [http://www.facebook.com/pages/KASE-Gdansk/119776818085038 Klub Austriackiej Szkoły Ekonomii], Gdańsk, Poland
* [http://www.facebook.com/GliwickiKASE Klub Austriackiej Szkoły Ekonomii], Gliwice, Poland
* [http://www.facebook.com/pages/Katowicki-Klub-Austriackiej-Szkoly-Ekonomii/120858324640940 Klub Austriackiej Szkoły Ekonomii], Katowice, Poland
* [http://www.facebook.com/pages/KASE-Krakow/260094303088 Klub Austriackiej Szkoły Ekonomii], Kraków, Poland
* [http://www.facebook.com/pages/KASE-Lodz/164700973542600?ref=sgm Klub Austriackiej Szkoły Ekonomii], Łódź, Poland
* [http://www.facebook.com/pages/Klub-Austriackiej-Szkoly-Ekonomii-w-Poznaniu/154903994531625 Klub Austriackiej Szkoły Ekonomii], Poznań, Poland
* [http://www.facebook.com/pages/Warszawa-Poland/KASE-Warszawa/179383952827 Klub Austriackiej Szkoły Ekonomii], Warszawa, Poland
* [http://www.facebook.com/pages/KASE-Wroclaw/123019747756535 Klub Austriackiej Szkoły Ekonomii], Wrocław, Poland
* [http://www.facebook.com/group.php?gid=353500072319 Mises Circle Tallinn], Tallinn, Estonia
* [http://www.facebook.com/group.php?gid=10837468262 Frjálshyggjufélagið, Libertarian Society of Iceland], Reykjavík, Iceland
* [http://www.freedomireland.com Freedom Ireland], Dublin and Galway, Ireland
* [http://encontros.mises.org.pt/ Instituto Ludwig von Mises Portugal], Porto, Portugal
* [http://encontros.causaliberal.net/ Causa Liberal - Portuguese Classic Liberalism Meetup Group], Lisbon, Portugal

==Asia==
* [http://www.meetup.com/Ludvig-Von-Mises-Fellowship-Dubai/ Ludvig Von Mises Fellowship Dubai], Dubai, U.A.E
* [http://www.facebook.com/group.php?gid=276683682183 Filipino Libertarians & Austrian Economists/ Filipinos for Ron Paul, 3rd Year Anniversary Meet-Up], Manila, Philippines
* [http://lesswrong.com/lw/5lw/shanghai_less_wrong_meetup_2_wednesday_may_11th/ Shanghai Rationalists] Shanghai, China

==Australia==
* [http://www.meetup.com/Canberra-Stock-Trading-Meetup-Group/ Canberra Stock Trading Meetup Group], Canberra, Australia
* [http://www.la.org.au/ Liberty Australia], Most Capital Cities, Australia
* [http://www.meetup.com/Ayn-Rand-Brisbane/ The Brisbane Ayn Rand Meetup Group], Brisbane, Australia

==South America==
* [http://www.andeslibres.com/Instituto Andes Libres Peru], Cusco, Perú

==See also==
* [[Where to study Austrian Economics]]

[[Category:Mises Wiki]]

Regression theorem

2011-12-16T16:11:33Z

173.245.48.236:

"Mises eluded this apparent circularity by his regression theorem. In the first place, yes, people trade away real goods for units of money, because they have a higher marginal utility for the money units than for the other commodities given away. It's also true that the economist cannot stop there; he must explain why people have a marginal utility for money. (This is not the case for other goods. The economist explains the exchange value for a Picasso by saying that the buyer derives utility from the painting, and at that point the explanation stops.)

People value units of money because of their expected purchasing power; money will allow people to receive real goods and services in the future, and hence people are willing to give up real goods and services now in order to attain cash balances. Thus the expected future purchasing power of money explains its current purchasing power.

But haven't we just run into the same problem of an alleged circularity? Aren't we merely explaining the purchasing power of money by reference to the purchasing power of money?

No, Mises pointed out, because of the time element. People today expect money to have a certain purchasing power tomorrow, because of their memory of its purchasing power yesterday. We then push the problem back one step. People yesterday anticipated today's purchasing power, because they remembered that money could be exchanged for other goods and services two days ago. And so on.

So far, Mises's explanation still seems dubious; it appears to involve an infinite regress. But this is not the case, because of Menger's explanation of the origin of money. We can trace the purchasing power of money back through time, until we reach the point at which people first emerged from a state of barter. And at that point, the purchasing power of the money commodity can be explained in just the same way that the exchange value of any commodity is explained. People valued gold for its own sake before it became a money, and thus a satisfactory theory of the current market value of gold must trace back its development until the point when gold was not a medium of exchange.*"

http://mises.org/daily/1333

Regression theorem

2011-12-16T16:09:02Z

173.245.48.236: Created page with "How does this not have a wiki page?"

How does this not have a wiki page?

Objections

2011-12-02T18:52:34Z

173.245.48.236: /* Capitalism does not produce public goods */

{{stub}}

= Objections to capitalism, liberty and anarcho-capitalism =

This page can start by listing objections and concerns, and link to more detailed sections to analyze and answer the problem.

= Capitalism does not produce public goods =

See [[Public goods]].

The case of [http://vimeo.com/4798314 science]. Terence Kealey offers three arguments: The first one is a recent OECD comparative analysis of growth between countries with regards to the amount of government funding of science. It shows no positive effect in countries with heavier government funding, whereas it shows positive effects when there is more private R&D investment. The second one is that economic growth trends historically did not improve when government become involved (before/after comparison). The third is the disappearance of "secret publication" of science in favor of the current open model well before governments became involved in science (ie. scientists themselves find it advantageous to share, it is not a disincentive as suggested by the "public goods" argument).

= Capitalism under-produces what society needs =

More details TBD

= Capitalism exploits workers =

= Capitalism plunders the environment =

= Capitalism doesn't protect consumers from ruthless businessmen =

= Capitalism leads to monopolies and cartels =

It is important to understand what constitutes a monopoly and under what conditions it leads to monopolistic effects (lower quality and higher prices).
What are the forces which encourage concentration?
What are the forces which encourage fragmentation?
How does one define an "industry" or "sector"? What are substitution effects?

Also, it is interesting to look at historical data on monopolies, in light of the above analysis. Which problems occurred? Which forces actually came into play?

For one, identifying a monopoly requires defining the scope of the market. If defined arbitrarily narrowly, it will apparently lack adequate substitutes. Is the iPhones in the market for large-screen touch-based smartphones, consumer smartphones, cellphones, communication devices, or social networking tool?

But more importantly, competitive forces (both actual competition, potential competition, and indirect competition) are sufficient to regulate how much control a company (or a cartel of colluding companies) can get over the market. Despite its dominance of a market, the company will always feel the pressure to perform well or else it will lose customers to rival companies. Anti-competitive conditions can only arise legally from the government (and illegally through other kinds of force, like the mafia). Such government-granted monopolies are indeed harmful to consumers and the market.

Mainstream economists have this theory of so-called "natural monopolies", whereby if a company manages to get far ahead in a capital intensive business with economies of scale, it creates a very difficult situation for competitors and allowing a long-term monopoly (which has bad effects on prices and quality). This theory is often used to justify government stepping in with anti-trust regulations, to "fix the market" and regulate the "unavoidable" monopoly (therefore actually sustains the monopoly).
But as Thomas DiLorenzo explains in this [http://www.youtube.com/watch?v=z2HXyfe_tCE presentation], [http://www.youtube.com/watch?v=mwH8unDcdMY another presentation], and [http://mises.org/journals/rae/pdf/RAE9_2_3.pdf paper], and history shows that such sustained natural monopolies do not exist in practice. All sustained monopolies to date can be traced back to some unfair advantage secured through government (diamonds, cable TV, phone service, railroads, ...).
Also, he explains that the supposed problem of "excessive duplication" is also a consequence of a pre-existing public utility. Because of their lack of pricing, economic calculation is impossible so trade-off cannot be made on a rational basis. Even so, this can be mitigated with "competition for the field", whereby utility companies bid for a monopoly contract which is open on auction again every few years.

= Individuals make predictable mistakes =

= Individuals lack information and expertise =

= Government is needed to define the law =

Here are some points to stimulate thought on this problem:
*languages (for the most part) emerge without centralized government definition
*governments are in a state of anarchy with regards to each other (no "super-government" defining international law)
*there are already multiple sets of law (from country to country, state to state, city to city), what is the optimal number and how would we know that number?

= Government is needed to provide law enforcement services =

= Government is needed to provide national defense services =

= Government is needed to control and protect the national borders =

[[Category:Argumentation]]
{{Stub}}

Objections

2011-11-15T23:09:48Z

173.245.48.236: /* Government is needed to define the law */

{{stub}}

= Objections to capitalism, liberty and anarcho-capitalism =

This page can start by listing objections and concerns, and link to more detailed sections to analyze and answer the problem.

= Capitalism does not produce public goods =

See [[Public goods]].

= Capitalism under-produces what society needs =

More details TBD

= Capitalism exploits workers =

= Capitalism plunders the environment =

= Capitalism doesn't protect consumers from ruthless businessmen =

= Capitalism leads to monopolies and cartels =

It is important to understand what constitutes a monopoly and under what conditions it leads to monopolistic effects (lower quality and higher prices).
What are the forces which encourage concentration?
What are the forces which encourage fragmentation?
How does one define an "industry" or "sector"? What are substitution effects?

Also, it is interesting to look at historical data on monopolies, in light of the above analysis. Which problems occurred? Which forces actually came into play?

For one, identifying a monopoly requires defining the scope of the market. If defined arbitrarily narrowly, it will apparently lack adequate substitutes. Is the iPhones in the market for large-screen touch-based smartphones, consumer smartphones, cellphones, communication devices, or social networking tool?

But more importantly, competitive forces (both actual competition, potential competition, and indirect competition) are sufficient to regulate how much control a company (or a cartel of colluding companies) can get over the market. Despite its dominance of a market, the company will always feel the pressure to perform well or else it will lose customers to rival companies. Anti-competitive conditions can only arise legally from the government (and illegally through other kinds of force, like the mafia). Such government-granted monopolies are indeed harmful to consumers and the market.

Mainstream economists have this theory of so-called "natural monopolies", whereby if a company manages to get far ahead in a capital intensive business with economies of scale, it creates a very difficult situation for competitors and allowing a long-term monopoly (which has bad effects on prices and quality). This theory is often used to justify government stepping in with anti-trust regulations, to "fix the market" and regulate the "unavoidable" monopoly (therefore actually sustains the monopoly).
But as Thomas DiLorenzo explains in this [http://www.youtube.com/watch?v=z2HXyfe_tCE presentation], [http://www.youtube.com/watch?v=mwH8unDcdMY another presentation], and [http://mises.org/journals/rae/pdf/RAE9_2_3.pdf paper], and history shows that such sustained natural monopolies do not exist in practice. All sustained monopolies to date can be traced back to some unfair advantage secured through government (diamonds, cable TV, phone service, railroads, ...).
Also, he explains that the supposed problem of "excessive duplication" is also a consequence of a pre-existing public utility. Because of their lack of pricing, economic calculation is impossible so trade-off cannot be made on a rational basis. Even so, this can be mitigated with "competition for the field", whereby utility companies bid for a monopoly contract which is open on auction again every few years.

= Individuals make predictable mistakes =

= Individuals lack information and expertise =

= Government is needed to define the law =

Here are some points to stimulate thought on this problem:
*languages (for the most part) emerge without centralized government definition
*governments are in a state of anarchy with regards to each other (no "super-government" defining international law)
*there are already multiple sets of law (from country to country, state to state, city to city), what is the optimal number and how would we know that number?

= Government is needed to provide law enforcement services =

= Government is needed to provide national defense services =

= Government is needed to control and protect the national borders =

[[Category:Argumentation]]
{{Stub}}

Talk:Standard Oil

2011-11-11T19:29:37Z

173.245.48.236: Created page with "Is this entry solely about correcting the economic fallacies and arguments around Standard Oil? Perhaps I am confused about the Mises Wiki structure. I think it would be responsi..."

Is this entry solely about correcting the economic fallacies and arguments around Standard Oil? Perhaps I am confused about the Mises Wiki structure. I think it would be responsible, assuming the entry should contain all data about Standard Oil, that Standard Oil had intimate ties to Nazi Germany.

However, if the Mises Wiki is solely about economics, then I guess it could slide. But even so...