Mises Institute Fulfills Murray Rothbard’s Dream.

The Mises Institute is very much modeled after this premonition of Murray Rothbard either deliberately from its origin or as it unfolded. The Mises Institute definitely provides a universal nurturing environment for scholars and for interested persons to gain confidence and recognition.

I am curious about the publishing of scholarly work, is there an opening for new classical liberalism theoretical works, specifically, the divine economy theory? If so please let me know.

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Austrian Economics And The Divine Economy Theory.

As part of your exploration of the divine economy theory you might find it interesting to read comments that I have made over the years to the Mises blog and you may also find it interesting to focus that search even more by reading comments specifically related the divine economy made over the years to the Mises blog.

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Why Is Money Regarded Merely As A Unit?

Imagine money at the center of a subjective model (the divine economy model – for example)!

Now: regard money as property protected as a contractual property right by law; flowing in the market and bringing order to what seemed chaotic; giving people the power to easily act on their subjective choices; and also becoming transformed in a variety of ways into a capital structure that is congruent with time preferences.

This begs the question: Why is money regarded merely as a unit when there are so many hidden qualities? Those who have such a diminished view may tolerate the destruction of money by the State but through education this lack of thoughtfulness will vanish.

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Empirical Economics Is In No Way, Shape, Or Form Scientific.

Thursday, February 21, 2013

Empirical Economics Is In No Way, Shape, Or Form Scientific.

Static data that misses the subjective nature of human action in a dynamic system of human action is not a good starting point.
Then for someone with limited knowledge (which is an unavoidable condition of all human beings) to be arrogant or foolish enough to interpret the meaning (as if possessing omnipresent and omniscient powers extending across the time horizon) of this static data, and then combining that ego-driven interpretation with a motivation to interfere with the natural processes in favor of some ego-driven goals is not in any way, shape, or form scientific.
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Key To Conflict Resolution – Property Rights.

Human rights are part of natural law, which includes the recognition that humans make decisions subjectively. The structure of human logic is unique to Homo sapiens and it is universal for all human beings. Yet each individual has unique experiences and abilities which make each person’s perspective unique also. This uniqueness functions within this universal structure of human logic that all humans have in common.

Natural rights are part of the order that comes from the choice of humans to socially cooperate. Physically, intellectually, and spiritually humans have discovered in infinitely repeatable ways over the history of the evolution of human civilization that social cooperation is beneficial. The association of humans with their subjective choices is only natural, and identifying how these choices fit in as a part of social cooperation leads to reciprocity and a mutual recognition of property rights and human rights. Both human rights and property rights are understood in that context of reciprocity.

In other words, from the beginning of human history property rights have prevented conflict. What belongs to someone is theirs and what belongs to me is mine. The signs of ownership are often clear and when they are not clear it is by refining the definition so that the property rights are made clear and evident that conflicts are resolved.

Since the State confiscates property, and since it is the monopolist judge deciding what definition of property rights it wants to abide by, there is little conflict resolution potential in societies now-a-days. Resolution amounts to submission to the arbitrary edicts of the State. Combine this with the State’s grabbing more and more monopolist power by using ‘democracy’ to exaggerate and exasperate envy and conflict resolution seems almost impossible.

Obviously the necessary conditions for peace include getting rid of the monopolist judge (the State – intent on coercive violation of property rights) in favor of consultative bodies that desire to refine property rights, moderated by reciprocity considerations.

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All Monopolies Are State Granted.

All monopolies are State granted. Unless someone owns every bit of a specific resource and unless there are no other resources that can serve as substitutes (practically an impossibility, in other words) the competitive forces that exist in the market never permit the formation of a monopoly. It is only when the State – with its fascist nature – gets involved that a monopoly can ever manifest itself.

The State then uses its near-monopolist position as the supplier of ‘education’ to propagandize the people into thinking that the State is needed to protect people from monopolies and to ‘equitably’ provide certain goods and services. What a myth!

Such are the characteristics of living in the Dark Ages of economics!

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Empiricists Have A Difficult Time Thinking Subjectively!

There is a difference between an empirical model and a subjectivist model.

The empirical model is quantitative whereas the subjectivist model is qualitative. You buy an apple for 50 cents. That is the piece of data in the empirical model (apple=50 cents).

Or you buy an apple and in that way human action manifests itself, which is part of the flow of information in the ocean of knowledge that surges and surges within the market process in unfathomable power, supplying humanity with all of its needs unless an empiricist tries to squeeze all of that (infinite dynamics) into one piece of data and then tries to interpret it in a way to justify ego-driven intervention and thereby create injustices across the planet and throughout the time horizon.

Empiricism in economics is a major contributing factor why we are living in the Dark Ages of economics.

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