[pacopasa]

Thank you very much, just finished this course yesterday. A few episodes were over my head, particularly that impossibility theory. I am going to start over with Part 1 and then part 2 again. Really enjoye Contra Krugman and I benefited greatly from your Lessons for the Young Economist book (although I’m in my 60’s). Hoping to meet you at the Soho Forum next year.

[pacopasa]

Thank you

[pacopasa]

Thanks for the article. It appears to me that in his conclusion he states it is theoretically possible that one day all entrepreneurs would understand the distorting effects of monetary policy but it is realistically impossible. The insight that it is not that entrepreneurs become fooled but that fools become entrepreneurs seems to sum up the reality.

[pacopasa]

Thanks again, read the Hazlitt article, his application of velocity to commodities sheds light on the issue.

[pacopasa]

Thank you,I’m not sure I understand “Outside of the market, we can’t tell whether or not a particular project generates a net gain to society.” If some government program accidentally discovered a cancer cure would that not probably be a net gain?

Does money demand have anything to do with the “circulation of money”? Would you have a recommended article on that topic? Is there a rate of circulation? Does it matter?

[pacopasa]

Thank you

[pacopasa]

Thank you

[pacopasa]

Thanks,just read a few chapters of the Walter Block book, will finish. He is thinking way outside the box and making a lot of sense.

[pacopasa]

Thank you.

[pacopasa]

Read “Profit and Loss”, will read it again. Very clear and cleverly scathing.

What would be the effect upon an economy if everyone counterfeited $1,000 and spent it in one day? and they didn’t know that others were counterfeiting.
Would there be a different effect if they knew everyone was counterfeiting?

How about the opposite? What if everyone lost (permanently destroyed) $1,000 dollars?
If they thought they were the only one? If they knew it happened to everyone?

[pacopasa]

Thank you

[pacopasa]

Thank you

[pacopasa]

Professor,

Thanks again, when I’m finished with Man, Economy and State, and your lectures, and the ones by Bob Murphy I will read more on the anarcho capitalism stuff.

[pacopasa]

Just got to p.74 of man,economy and state. Rothbard makes the same point you did above, he used the egg/cake analogy.

[pacopasa]

Thank you.

[Author]

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