This week, we are going to take a quick look at the macroeconomics of the Austrian School of economics with an Economic System Macroeconomic Analysis of Ludwig von Mises, F.A. Hayek and Murray N. Rothbard. This is an important subject and one that I hope you will please continue to read on as it relates to the future of this nation, and I hope you will please consider all this.
In this article, I want to take a look at a particular method for economic system macroeconomic analysis of Mises, Hayek and Rothbard and that is Austrian business cycle theory. This particular method is called the “Business Cycle Hypothesis”. If you are not familiar with this method then you need to get familiar with this method because it is very important in determining what actually is causing the problems in our country in the first place.
In simple terms, this business cycle theory states that it is impossible to make money in the long run without spending money in the long run. So, instead of using up all of your savings, you can use up all of your money and spend that money on something else that is going to create income for you over time. Of course, if you think about it, this does make sense, doesn't it?
Unfortunately, the Federal Reserve has proven this to be false and they have done so in a very sneaky and deceitful manner. The central bank printing so many new currency units every month, with no plan to pay for them, is a recipe for disaster and if you are looking for a long-term solution, then you need to think about getting rid of the Federal Reserve now and creating a new monetary system that has been created by the American people, for the American people.
In my opinion, there is only one way that this problem can be solved and that is through an economic system macroeconomic analysis of the Mises, Hayek and Rothbard school of thought. This economic system should include everything from free-barter to gold, but more importantly, this would include an accounting method that will tell us exactly what each unit of currency costs and how much money is going out and coming in.
This type of accounting is what will allow us to make informed decisions regarding the type of system that will best benefit our country's economy and allow us to make the changes that are necessary to maintain our economic growth and development. This type of analysis is not commonly done by the mainstream of economists and they do not have the information necessary to come to a proper conclusion.