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Austrian Economics and Keynesianism (Keynesian Economics) Explained in One Minute

One Minute Economics 147 views

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Creating money, however, is what banks currently are doing due to deregulation Out of thin air By putting people into debt Either Austrian economics is flawed or the neoliberals need further schooling
Comment from : @CCLilja

stupid, economics is not a dialectic - read some Elinor Ostrom, it's a synthesis
Comment from : @APOKOLYPES

Printing pieces of paper doesn’t increase wealth
Comment from : @garysmokesmeat

But my government has spent decades giving people money to help them buy houses Why are houses so expensive!!!???? /s
Comment from : @carboyau

Austrian > Keynesian all day!--Viva Ludwig!
Comment from : @LinuxHurts

Failure is an inherent and healthy part of a capitalist economy that Keynesian economics doesn’t seem to understand
Comment from : @Muchowski_B

If life has shown us anything, it's that governments are incompetent and don't know what the fuck they're doing Austrian
Comment from : @alastor8091

Austrians believed that the Great Depression was good ???brbrId**ts !!!!
Comment from : @isawaturtle

Austrians win
Comment from : @Kirasupporter1

Money Moicano send me here
Comment from : @umarjongi3590

Ok I’ll say it: Keynesian economics is a statist scam that gives government power over the economy😅
Comment from : @houseofbathos

Hernandez Sharon Young John Williams Karen
Comment from : @MorseDempsey-s4k

One Minute Propaganda
Comment from : @JerseySlayer

Hayek and the Austrians won the argument hands down The problem was/is politicians who are in charge of the national budget and have power to create fiat money will NEVER turn off the spending machine leading to financial, monetary, and political disaster Friedman once said the effects of inflation are at first pleasant People have more money to spend Economic activity picks up It isn't until the bad effects show up later that it becomes the solution created more problems and the "cure" for the problem is ALWAYS great spending, greater deficits, and how we are in a viscous circle from which there is no escape except total collapse which leads to political dictatorship,
Comment from : @uhlijohn

I’m on the Austrian Economist side! 🇺🇸
Comment from : @anneerickson6347

Wasn't he hayekbr?
Comment from : @artofwrick

Oh shit, there’s a fire, well all I have is gasoline but it’s liquid so it should put out the fire - the government
Comment from : @themadhattersalt

USA is Bankrupt from frivolous spending
Comment from : @kenrose3464

Keynesian economics is based on counterfeit money, Austrian economics has a gold standard
Comment from : @DavidLucas-zq8gb

Less government for whom, paleface?
Comment from : @josdesouza

Name one financial crisis that wasnt caused by government
Comment from : @XRedDemon27

As Richard Nixon famously said: "We are all Keynesians now"
Comment from : @hectorcruz3337

I'm Austrian, so
Comment from : @kurtengel6029

As an Austrian I am for Austrian Keep the state out, period
Comment from : @mymixture965

Keynesian economics is an invention like the credit which fuels it Keynesian economics is never successful
Comment from : @coldflu

Austrian all the way
Comment from : @williamsamuel7085

Keynesian Economics is obviously retarded lol
Comment from : @laszlokiss483

This video is absolute garbage Seriously -- giving the brightest view of one side, and the most ridiculously untrue diatribe on the other is just axe grinding
Comment from : @bozimmerman

Austrian 100
Comment from : @moose84opie

I am a Keyesianism person myself he's focus on stability tends to work and has shown to work much better than doing nothing in almost every case His other idea of mixing capital and social economics to prevent the labor class from burning everything thing own and the rich from screwing everyone over has been the standard model of EU economics for 90 years and it has worked out well so fair I wish the US would stop thinking greed is going and screw you I got my money and start following Keynesian economic ideas
Comment from : @madmachanicest9955

Austrian
Comment from : @scarfacecapital

Put it simply:brbr- Austrian: Correct and calibrate as you gobr- Keynesian: Push the problem ahead of us until it is so big that a financial cataclysm is inevitablebrbrThat's why 2023 is the new 1929
Comment from : @eivindfskjellum

Chicago School
Comment from : @Milton_Friedmanite

Austrian seems fair in my eyes
Comment from : @NoorsUnpopularOpinions

I think this video was a bit biased Austrian economics doesn't necessarily say that a financial crisis shouldn't be stopped (by state intervention) There are Austrian economists that believe state intervention makes financial crises even worse and therefore less state intervention actually helps fight financial crises So they do care about financial crises
Comment from : @financialchimes4546

Only one is taught in university unfortunately
Comment from : @jordancotter5885

Austrian ftw
Comment from : @ObiWanSatoshi

Picking an economic school like it’s a team is ridiculous You should learn about them all , but recognise that they all have useful and non useful ideas and the utility of those ideas won’t remain constant through time What matters is the data and policy making should be nimble enough and our economic thought flexible enough to respond to what we find in the data
Comment from : @739jep

The situation today is exactly what Keynesian economics leads to Deficit monetization, credit expansion, kicking the can down the road until you hit a wall and you pay for it one hundred fold brbrThe largest wealth gap in US history, record high dept to gdp and an inflation crisis Bravo Keynes, maybe you should have pursued an economics degree before creating the modern western framework of economics
Comment from : @sn3aky_pants593

Austrians are amazing! brbrMy favourite is Hayek!
Comment from : @yydd4954

Austrian all the way Especially in times of more surveillance by the government
Comment from : @ragusano86

The problem being that government creates most financial crisis At that point the government needs to be stopped from intervening in the economy and over spending You left that part out of Austrian economics
Comment from : @loki-of-asgard7877

And here we are, Keynesians with much power all around the world still insisting in the same erroneous ideas
Comment from : @agctony123

Almost every financial crisis that I can see has been due to the government interfering in some way The government should rarely be involved unless there is a monopoly in the market (usually created thanks to the governmet)
Comment from : @Chualland

It's fun to come back to this in 2021 and see that the metaphor used to describe Keynesian intervention is the government coming in with a syringe
Comment from : @Anamnesis

I feel like Keynesians are the way to go because as we saw with the great depression, we had lauzefeirre? economics and it kinda fucked us up which caused the vast majority to want the state to involve itself with the economy
Comment from : @SaixanMobile

Team Austrian all the way
Comment from : @lastcall8286

Austrians are like: “Fuck the poor It’s good for them!”
Comment from : @Anti-CornLawLeague

austrian economists dont belive in empirical evidence, sooo why does anyone take them seriously?
Comment from : @hurensohn7605

What kind of a dumbass thinks that endless money printing and consumption is good for economy? Austrian for sure
Comment from : @sten260

Austrians believe the whole boom/bust cycle is a result of government meddling with the value of money, retroactively misallocating resources and rewriting contracts If money is the yardstick against which we measure value, which it is, nobody should be in the position of being able to change the length of the yardstick Any time someone boils an entire school of thought down to a sentence, there’s a good chance they’re leaving something out
Comment from : @theGefilteFist

Is there any school of thought that goes in the middle of these two?
Comment from : @sohrb

Austrian Economics crew represent!
Comment from : @BuckBreaker

In Austria we are no Fans of Austrian Economics
Comment from : @zendragallhauser5056

I've read many books on economics By far, Austrian economics makes the most sense I used to believe in big government Some of my arguments were refuted so it intrigued me and made me want to start studying economics I realized just how wrong I was because Austrian economics makes you think very critically about things and take everything into account so your critical thinking skills must be on point to follow this school of thought brThey refuted all government intervention I haven't heard any good counter argument to them so I'm sticking with them
Comment from : @bane3991

I've recovered from a bout of Austrianism Keynes has been vindicated
Comment from : @mccloaker

No Keynesian economist knows what a Keynesian economist is If you do any research, you're Austrian
Comment from : @awuun1984

Financial crisis is good for you!br- bC/b bA/b bP/b bI/b bT/b bA/b bL/b bI/b bS/b bT/b bS/b bC/b bU/b bM/b
Comment from : @GUILLOTINE_GANG

People really looked at this and said: "Yes, I want crippling poverty! Poverty is great!" Yikes😬brVideo has a bias towards Keynesian but I would too if someone says they enjoy being poor because their suffering is "good for the economy"
Comment from : @TheTrainmobile

how big of of actual difference does this cover?
Comment from : @mimosveta

Just fyi an immediate loud intro is always a bad idea Everyone hates it
Comment from : @enermaxstephens1051

Having just purchased Keynes book I will have great enjoyment reading I'm no expert and definitely in early days of my learning but most governments that seem to get deemed as following keynisian economics actually are only half assing it I must say though it's a fascinating subject area 😁
Comment from : @michaelbrow1099

Yeah because the 2008 financial crisis was so worth it
Comment from : @petritkrasniqi4996

Keynes!
Comment from : @luisguimaraes5682

Who ended up here because they’re reading “The Bitcoin Standard?” 🙋‍♂️
Comment from : @MatthewMarcus

Why do governments want constant spending
Comment from : @Somebodysneighbour

Great vid I am Austrian all the way Gubmint is unnecessary evil Taxation is theft
Comment from : @hoofgripweightlifting6872

Austrian economics believes that value is subjective If you don't agree with that there is no hope for you
Comment from : @maxcohen13

Austrian
Comment from : @arfast-xolotl

depression in '21 government cut spending, depression in '29 government did massive spending Any questions?
Comment from : @williamkoehler7631

Austrian heals the bust Keynesians creates the boom and bust cycle
Comment from : @patrickt873

Democrats today arent even keynesians anymore lol They subsidize in booms too
Comment from : @upstateNYfinest

if u cant afford gold eagles- get tuner fish cans-cases ov em
Comment from : @jansoriano3889

Austrian
Comment from : @supercontious

Keynesian ftw
Comment from : @brauljo

austrian economics doesm't assume markets are very efficient, they use parxeology to prove it
Comment from : @transon6655

Austrian!!!
Comment from : @shuff1111

I hope you did something on the Chicago school
Comment from : @billyb6001

Keynesian all the way!
Comment from : @gauchinio9139

austrian school
Comment from : @stalincespedes5093

definitely austrian
Comment from : @ashainp

How can i make caption to my language
Comment from : @muaidahmed8567

I think history is already proving that keynsian economics is garbage and an excuse for the privately run federal reserve to exert more power Time for bitcoin
Comment from : @death-disco