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About Parcus

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    United States
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  • Biography/Intro
    My Name is Wes, I'm more of an economics guy than I philosophy guy. I identify mostly with the monetarist school of economics, but I believe very much in free markets.
  • Experience with Objectivism
    I've read Anthem, ITOE, Philosophy: Who Needs it, Virtue of Selfishness, and have read countless papers and essays written by different objectivists in several different political communities on many different apps.
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    Currently a junior in high school
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    I enjoy playing guitar, reading about economics, sociology, and I've dabbled in philosophy.

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    Guitar, Hiking, Biking, Economics

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  1. Yes, I understand that and I'm not contesting it, but I asked, if inflation is theft due to the loss of wealth which wasn't consented to, then is DEFLATION not theft as well, since it's destroys wealth, arguable moreso than inflation, and typically isn't consented to (I don't know many people who consent to recessions.) If the answer to my question is yes, then you have a dilemma, because you can either have the government step in and have low rates of inflation, which all may not consent to (theft by your definition) or you can have government out of the monetary and fiscal framework, and hav
  2. The very definition of "fuck that shit"
  3. No, it was setting up the whole "future prosperity is based on the economic foundations we set now with output and investment"
  4. Is government debt a true economic issue? No, here is why. The notion that people today are “living at the expense of future generations” is nonsense. Any future generation cannot send goods and services back in time, and our wealth today is dependent on the goods and services produced, owned and consumed today, not long into the future. The repayment of future government debt comes from three sources: Central bank open market operations. The government rolling over its debt. As long as people keep purchasing the debt on money markets, there isn't an issue. The government’s
  5. So any form of aggregate price level change on the standard US dollar is theft in some form or fashion?
  6. Parcus


    Give your best arguments against Marxism, from exploitation theory to the Marxian labor theory of value. I realize this is in the economics board, but more philoshophical critiques are welcome.
  7. Deflation is involuntary and causes a loss in value though, and they're forced to use a devaluation currency and yes I misunderstood as I thought you wanted a gold standard, my bad.
  8. In regards to inflation being theft, you get yourself in a bind by saying that. The main reason, I assume, that you think inflation is theft is that it erodes the value of assets, which harms everyday people. But then, you must logically conclude that DEFLATION is also theft, because it destroys wealth just as inflation does. Except low rates of inflation tend to foster of the creation of wealth, and low rates of deflation get you into situations like the Japanese "lost decade." It has been estimated the 08 crash (caused by government mind you) destroyed 19.2 TRILLION dollars in American house
  9. Yes, he argued that it didn't adequately explain the demand for money, which imo doesn't seem correct. First, you must distinguish between ULTIMATE wealth holders and enterprises. Ultimate wealth holders just see money as a way to store wealth, and enterprises see it as a producers good. For ultimate wealth holders, the demand for money is determined by 4 different factors: Total wealth, the division of wealth between human and non-human forms, the expected rate of return on money and other assets, and finally, determining the value attached to liquidity, to borrow a Keynesian term. Another va
  10. I'm a monetarist, meaning I follow the doctrines of Friedman. I adhere to the quantity theory of money, which explains changes in nominal aggregate expenditures reflecting changes in both the physical volume of output and the price level in terms of changes in the money stock and in the velocity of circulation of money (the ratio of aggregate expenditures to the money stock). The gold standard is TECHNICALLY QTM neutral (inflation at zero %) but this obviously wouldn't be the case in the real world. Having inflation at zero % may seem desirable, but in reality, low rates of inflation (I belie
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