Sorry to be off topic but does someone know of a method to log back into an instagram account..? I was dumb lost my login password. I would appreciate any help you can give me!
@Marley Gus Thanks for your reply. I got to the site through google and im waiting for the hacking stuff now. Takes quite some time so I will reply here later with my results.
The only thing I didn't understand was the relationship between wage rates and demand for labor in lower order vs higher order sectors. Why would they differ in a non bubble economy? Are we suggesting labor in capital goods sectors is different than labor in consumer goods sectors?
When the economy decides to save more and spend less, overall consumption is decreased, which leads to a drop in demand for consumer goods (which are always the last stage of any production process i.e. right edge of the Hayekian triangle). Businesses producing these goods will no longer be able to pay as much of their labor as before, which leads to a drop in higher order sector labor wages. In lower orders sectors, spending is increased due to entrepreneurs/businesses directing the newly saved funds into new production processes. These processes will require labor. Hence demand for labor here increases, causing an increase in wages in these sectors.
Well, the "base case" doesn't account for possible "deflationary pressures" (resulting from the increase of productivity from previous investments), does it? If that "deflationary pressure" (i.e. "real" resources are now more plentiful, resulting from such productivity) matches the increase in credit-and-money supply, it's possible that growth would be "sustainable", in a sense, or am I missing something? I don't think it's "fair", as to me, fair would be agents of the economy actually enjoying more purchasing power resulting from increases in productivity across society, but I think it's possible it wouldn't necessarily result in a business cycle in the short term. You can't really "rely" on "deflationary pressures" going forever which is why increases in money-credit supply wouldn't be sustainable in the long run.
the Crusoe reasoning was fantastic. I'm starting to get a real grasp of the theory
U should know this by now, Carl!
@@neeltheother2342 I can't help it if I died before Mises figured this out
This is such a good lecture. I thoroughly enjoyed it
Sorry to be off topic but does someone know of a method to log back into an instagram account..?
I was dumb lost my login password. I would appreciate any help you can give me!
@Devin Kobe Instablaster ;)
@Marley Gus Thanks for your reply. I got to the site through google and im waiting for the hacking stuff now.
Takes quite some time so I will reply here later with my results.
@Marley Gus It worked and I now got access to my account again. Im so happy:D
Thank you so much you saved my ass!
@Devin Kobe Glad I could help :D
Ha that ham sandwich graph gave me a good laugh!
Those 4 minutes are worth more than an entire semester of macroeconomics
The only thing I didn't understand was the relationship between wage rates and demand for labor in lower order vs higher order sectors. Why would they differ in a non bubble economy? Are we suggesting labor in capital goods sectors is different than labor in consumer goods sectors?
When the economy decides to save more and spend less, overall consumption is decreased, which leads to a drop in demand for consumer goods (which are always the last stage of any production process i.e. right edge of the Hayekian triangle). Businesses producing these goods will no longer be able to pay as much of their labor as before, which leads to a drop in higher order sector labor wages.
In lower orders sectors, spending is increased due to entrepreneurs/businesses directing the newly saved funds into new production processes. These processes will require labor. Hence demand for labor here increases, causing an increase in wages in these sectors.
Well, the "base case" doesn't account for possible "deflationary pressures" (resulting from the increase of productivity from previous investments), does it?
If that "deflationary pressure" (i.e. "real" resources are now more plentiful, resulting from such productivity) matches the increase in credit-and-money supply, it's possible that growth would be "sustainable", in a sense, or am I missing something?
I don't think it's "fair", as to me, fair would be agents of the economy actually enjoying more purchasing power resulting from increases in productivity across society, but I think it's possible it wouldn't necessarily result in a business cycle in the short term. You can't really "rely" on "deflationary pressures" going forever which is why increases in money-credit supply wouldn't be sustainable in the long run.