Another “Cute” Conversation With SmackMacDougal on Mish Shedlock’s blog

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why Is Mish so jazzed Over this topic ?

    • Duality Within Trinity Alexander Vucelic • 9 hours ago

      Because it is economically relevant. The only thing holding him back from realizing the solution to the economy’s problems is his Austrian/libertarian belief in general equilibrium. When he finally concedes his buddy Steve Keen is correct that the economy tends toward disequilibrium…is when his Austrian/libertarian motto “there ain’t no free lunch” will also flip around from being a truth and a solution….to the recognition that it indeed describes the actual problem.

      • SmackMacDougal Duality Within Trinity• 4 hours ago

        You seem to suffer from a penchant to attack those who accept the tenets of the Austrian School of Neoclassical Economics. Your comments elsewhere on Mish’s blog supports that assertion.

        General equilibrium is a concept of neoclassical economics. It has nothing to do with The Austrian School of Neoclassical Economics, which historically was known as the Psychology School.

        At day’s end, the Psychology School is like all of its neoclassical brethren. They all believe in marginalism. That is the essence of neoclassical economics.

        You ought to read a half dozen works on the history of economics, with most written and published by fore 1930 if you want to disabuse yourself from your false belief about general equilibrium.

        Something can fail to tend toward equilibrium, but nothing ever can tend toward disequilibrium.

        Tending toward equilibrium requires something to be in the current state of disequilibrium. If something is in the current state of disequilibrium, there is no way to tend toward it.

        Good luck!

        • Duality SmackMacDougal• 25 minutes ago

          Have you looked at looked at or even considered the fact that labor costs, i.e. individual incomes are only a subset of total costs yet, and how that might not just tend to disequilibrate the economy….but of necessity must do it.

          Didn’t think so.

          • SmackMacDougal • 21 minutes ago

            C.H. Douglas was quite wrong.

            Factory workers don’t pool the sum of their wages and then buy from the factory the total output they made.

            Yet, here you are believing that must be so. Douglas erred in the same foolish way.

            Good luck!

            • Duality Within Trinity SmackMacDougal • 18 minutes ago

              Have you looked at or even considered the fact that labor costs, i.e. individual incomes are only a subset of total costs yet, and how that might not just tend to disequilibrate the economy….but of necessity must do it?

              • SmackMacDougal • 16 minutes ago

                Have you considered that repeating yourself indefinitely isn’t going to magically bend reality to fit your wishes.

                Good luck!

                • Duality Within Trinity SmackMacDougal • 14 minutes ago

                  Just practicing the valid therapist’s technique of repeating a relevant question…in hope that the patient will confront and answer it.

                  Have you looked at or even considered the fact that labor costs, i.e. individual incomes are only a subset of total costs yet, and how that might not just tend to disequilibrate the economy….but of necessity must do it?

                  • SmackMacDougal • 12 minutes ago

                    “Just practicing the valid therapist’s technique of repeating a relevant question…in hope that the patient will confront and answer it.”

                    So is that the big takeaway you have learned after attending therapy sessions?

                    Good luck!

                    • Duality Within Trinity SmackMacDougal • 10 minutes ago

                      That’s cute smack, cute.

                      Have you looked at or even considered the fact that labor costs, i.e. individual incomes are only a subset of total costs yet, and how that might not just tend to disequilibrate the economy….but of necessity must do it?

                      • SmackMacDougal • 10 minutes ago

                        OCD, is it?

                        • Duality Within Trinity SmackMacDougal • 7 minutes ago

                          No, I type that question consciously and in a new unit of time…every time.
                          Have you experienced an actual new unit of time even a couple of times in the many years that you have been regurgitating orthodoxy?

                          SmackMacDougal • 2 minutes ago

                          A new unit of time — wow, that is interesting. How did you manage to cause your experience of a new unit of time?

                          Do you own a a Delorean?

                          • Duality Within Trinity SmackMacDougal • a few seconds ago

                            You have to be conscious in order to know what I am referring to.

                            Good luck!

                            SmackMacDougal • 2 minutes ago

                            So, you have taken to parroting me? That’s interesting.

                            Good luck!

                            • Duality Within Trinity SmackMacDougal • a few seconds ago

                              Mocking, not parroting. I advise you to give up while you’re only this far behind.

                              SmackMacDougal • a few seconds ago

                              You should have quit being oh so far behind.

                              Good luck (seriously)!

                              • Duality Within Trinity SmackMacDougal • a few seconds ago

                                Uh huh. Never mind.

                                Duality Within Trinity • a few seconds ago

                                By the way….Have you looked at or even considered the fact that labor costs, i.e. individual incomes are only a subset of total costs yet, and how that might not just tend to disequilibrate the economy….but of necessity must do it?

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