Discussion in 'Homebound/Bedbound' started by rockgor, Jun 23, 2014.

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  1. rockgor

    rockgor Well-Known Member

    How ya doin'? Give me a buzz when ya can. Chat or whatever. I want to continue our
    fascinating discussion of classical economic theories beginning with Mercantilism and
    the contributions of such giants in the field as John Stuart Mill. I'm holding off on
    taking action till I hear from you.

    Am I right in thinking that Keynesian theory holds that: aggregate demand is influenced
    by a host of economic decisions—both public and private—and sometimes behaves erratically.

    I saw a Tee shirt that read, "There are two kinds of people in the world and being an economist is better than both of them." Need your input, please. Thank you too many.

    Okee dokee?
  2. Darrae

    Darrae Member

    Hi Rock,

    Hm.....let's see. Mercantilism. Ecconomic theory practice, commonly used in Europe from the 16th to the 18th century. Much like today's government. Regulation of a nation’s economy for the purpose of augmenting state power at the expense of rival national powers. The economic counterpart of political Absolutionism. An economic policy aimed at accumulating monetary reserves through a positive balance of trade, particularly of finished goods. Dominating Western European economic policy and discourse from the 16th to late-18th centuries. A cause of frequent European wars and a motivator of colonial expansion. Charactorized by high tariffs, especially on manufactured goods.

      • Building a network of overseas colonies;
      • Forbidding colonies to trade with other nations;
      • Monopolizing markets with staple ports;
      • Banning the export of gold and silver, even for payments;
      • Forbidding trade to be carried in foreign ships;
      • Export subsidies;
      • Promoting manufacturing with research or direct subsidies;
      • Limiting wages;
      • Maximizing the use of domestic resources;
      • Restricting domestic consumption with non-tariff barriers to trade.
    Mercantilism its simplest form was bullionism, but mercantilist writers emphasized the circulation of money and rejected hoarding. Their emphasis being monetary metals accords with current ideas regarding the money supply, such as the stimulative effect of a growing money supply. In time it was replaced by industrial economy, accompanied by a shift in focus from the ability to carry on wars to promoting general prosperity, leading to industrial age.

    It's foremost critic was Adam Smith. King Louis XIV followed the was determined that the state should rule in the economic realm as it did in the diplomatic, and that the interests of the state as identified by the king were superior to those of merchants and everyone else. The goal of economic policies was to build up the state, especially in an age of incessant warfare, and the state should look for ways to strengthen the economy and weaken foreign adversaries.

    Now, look at the comparison to our present day government: Printing of money beyond what our gold reserves can support in order to "promote economic" spending, the "outsourcing of American jobs to countries where pay is low", subsidizing manufacturers and banks to keep them from going under with money give-aways, keeping the people at a below a living wage, augmenting government power, promoting of war to gain access to oil reserves. There are some differences, yes, but many similarities in our present government. Particularly, building government power. Or, "Big Government".


  3. rockgor

    rockgor Well-Known Member


    Just missed you. Give me a call please.

  4. Darrae

    Darrae Member


    Re: Keynesian thinking

    The progressive income tax is designed to automatically help stabilize the economy. During periods of recession when incomes are low, the tax rate is low to increase disposable income and thus increase consumption. During periods of inflation when incomes are high, tax rates increase to help lower consumption.

    Have you heard/read about the Austrian explanation of the business cycle? IE, why depressions happen and why Keynesian policies don't work, why spending less creates capital which makes us all better, etc.?

    The problem is that the Austrian business cycle theory is an extremely specific theory; it does not hold all all cases.

    Tax the money, depriving the population of the money, thus no net increased spending.
    2: borrow the money, depriving firms of valuable capital as well as driving up the rate of interest.
    3: print the money, buy up gov debt to lower interest rates, this causes inflation.

    Erratic? Confusicating? Absolutely. Obamanomics? Of course!

  5. rockgor

    rockgor Well-Known Member

    Hi Dar

    Gordon and I are back from the bank, the post office, the library, the market
    and the hardware store. Uff-da! I am happy to report that the MacGuffin was
    mailed earlier this afternoon. Hope everything works out OK.

  6. Darrae

    Darrae Member

    Hi Rock

    Sounds like you had a very busy day! Thank you ever so much for the MacGuffin. It will be a great help. Yesterday my left ankle was twice the size of my right. I really need to go to the Chiropractor. That ankle has been killing me since before Christmas. This will make it possible. That, and a trip to my M.D. to get tests ordered and my meds "upped". It's the flipping co-pays that kill ya.

    I do have good news. My son went to the surgeon today and the surgeon told him if he continues to lose weight at the rate he has been, since he moved back home with me, he may not need the gastric bypass surgery. If he loses enough, they can just go right to the hernia surgery.

    This is great! One surgery instead of two! He's done very well as far as adhering to the diet program I put him on. He's lost 7 lbs. since he started the diet four weeks ago. Almost 2lbs. per week. Not too shabby.

    One thing I do know is nutrition! I have him on a high protein, low fat, no carb diet. No flour. No sugar. No oils other than extra virgin olive oil. No bread. No potatoes. No corn. No junk food. No soda. Everything is baked, boiled, or broiled. Lots of fresh vegetables. Lots of poultry, fish, shellfish, and beef. No pork. Flavored water in place of his Mountain Dew. Fresh fruit and juices, but not in abundance as they are still a "natural sugar", (carbs.).

    Bad news is, my daughter's been in the E.R. twice in the last two weeks. Upper respiratory problems. She's an asthmatic along with all her other problems. She had bronchitis. They gave her a Z-pack, (Zithromax), which should have taken care of it. It didn't. She had to go back in. They gave her something different and a breathing treatment. Her blood sugar is still all over the road map. Poor kid.

    Well, I'm off to Zzzzzz land. Early morning, late baseball game. Got home at 9:00 p.m.. Up at 5:00 a.m. tomorrow again.

    Thank you again Rock. This will help. God love you! Angels come in the most unusual forms.

  7. rockgor

    rockgor Well-Known Member

    Hi Kiddo

    Glad to hear your good news and vice versa. I sure hope the chiro can help the ankle
    situation. All the running around you do at work means you should have at least two
    good ankles.

    Gordon and I are just leaving for the library and an Asian market. We have 29
    books checked out. Need to get some of them back.

    Just started a book on the movies by a reporter who became a scriptwriter and
    then a producer: Sleepless in Seattle, etc. She says Americans movies are now
    aimed at the international market. The kind of movies we loved in the past are
    gone for good. Westerns and comedies don't do well overseas, so we won't be
    seeing many of them. But there will be lots of sequels, prequels, comic books,

    Ha! I haven't gone to the movies since "Stand Be Me" which was almost 30
    years ago. Well, I no longer have a son to take to the movies.

    That's All Folks,
  8. Darrae

    Darrae Member

    Hi Rock,

    That's a heap of books! I used to read every single night. I have a pretty full library here at home. But now, with my work schedule, I have no time to read anymore. I miss that.

    Sad that the good movies have gone by the wayside due to foreign markets. The last movie I went to see in a theater was Passion of The Christ, Mel Gibson's production. I remember we came in behind a group of nuns.

    It was the first movie I ever went to where there was no chatter, no talking, just people filing quietly out of the theater as if leaving church. My youngest son said it brought a "lump" to his throat. I felt that it was the first production I'd ever seen that truly depicted the "real" suffering of Jesus Christ.

    The last movie I saw in the theater before that was Groundhog Day, starring Bill Murray. That was a neat movie. To have to wake up every morning and re-live the same day over and over until you get it right! Hilarious.

    Well, I'm off to get horizontal.

    I wish you well.

  9. Darrae

    Darrae Member


    Just wanted you to know that the "care package" arrived. Will be making appointments with Chiro and M.D. on Monday.

    Ever grateful,

  10. Keanur

    Keanur Member

    Sounds like you had a very busy day! Thank you ever so much for the MacGuffin. It will be a great help. Yesterday my left ankle was twice the size of my right. I really need to go to the Chiropractor. That ankle has been killing me since before Christmas. This will make it possible. That, and a trip to my M.D. to get tests ordered and my meds "upped". It's the flipping co-pays that kill ya.
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