The Big Three in Economics

This is a good book for starters. “The Big Three in Economics” is a book for those of you who would like to know more about economics and which types for you.

The Book starts with Adam Smith who wrote the “The Wealth of Nations.” Adam Smith is considerted the founder of what is know today a Classical Economics. The author take you though the life of Adam Smith and some of his well know followers. All of which helped to expound on the ideas in “The Wealth of Nations.” To think that “The Wealth of Nations” was written in 1776 with many principles the the United States was founded on.

Next Mark Skousen take us to Karl Marx and his writings that led to Communism. I have tired to read the “The Communist Manifesto” but some of the term are used, are not very American. So I had to stop and think who he is referring to, it just annoyed me. If you look into there lives you can understand why they had certain preferences. One of his other books “Das Kapital” was also refereed to.

Then the final ideology  in Economics Keynesian. American embraced Keynesian from the second Roosevelt to Carter. Where the economy started to falter with stagflation which then we turned to Classical Economics till the the Second Bush and back to Keynesian which we are following now.

These are all Marco-Economics types each does have it merits. Some work better then other just depends on  your point of view. Each has it own ideas of how to use and manipulate the money supply. (Increase in the money supply increases inflation) Check the inflation rate Click here.

I do have my preference and that is Classical. Once governments gets to large it spends mine and yours money with a lot of waste.

 


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2 comments

  1. Mark

    If they did that, they would immediately be left wouhitt any power, because while you think that if people weren’t taxed in US dollars but only the currency would be printed to cause inflation and thus tax the entire savings denominated in US dollars, the economy would immediately stop accepting US dollars for any purpose.There is a reason why income taxes AND Federal reserve were created at the same time Fiat would die in a day if gov’t stopped collecting income taxes.

    1. David Piotrowski

      you have no idea what you are talking about, do you? The Us current from of income tax was started during the WWII and the Fed was created in 1913, be sure you know what you are talking about. The the Dollar is the world currency if you don’t take it the US has the one of the largest and best armed Military forces in the world. Name me a fiat currency that never went to its true value, the value of the which it took to produce it.

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