Archive for February 7th, 2010

Tom Woods and Murry Rothbard on Keynesian Predictions vs. American History–Lessons President Obama Never Learned–Videos

Posted on February 7, 2010. Filed under: Blogroll, Communications, Demographics, Economics, Education, Employment, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, history, Language, Law, liberty, Life, Links, media, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Video, Wisdom | Tags: , , , , |

“The fallacies implied in the Keynesian full-employment doctrine are, in a new attire, essentially the same errors which [Adam] Smith and [Jean Baptiste] Say long since demolished.”

“What he really  did was to write an apology for the prevailing policies of governments.”

~Ludwig von Mises writing about John M. Keynes

Keynesian Predictions vs. American History

John Maynard Keynes: Hero or Villain?

The Future of Austrian Economics

“Keynes did not add any new idea to the body of inflationist fallacies, a thousand times refuted by economists… He merely knew how to cloak the plea for inflation and credit expansion in the sophisticated terminology of mathematical economics.”

“In old fashioned language, Keynes proposed cheating the workers.”

Ludwig von Mises

Background Articles and Videos

Keynesian Economics

“…Keynesian economics (pronounced /ˈkeɪnziən/, also called Keynesianism and Keynesian Theory) is a macroeconomic theory based on the ideas of 20th-century British economist John Maynard Keynes. Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and therefore advocates active policy responses by the public sector, including monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle.[1] The theories forming the basis of Keynesian economics were first presented in The General Theory of Employment, Interest and Money, published in 1936; the interpretations of Keynes are contentious, and several schools of thought claim his legacy.

Keynesian economics advocates a mixed economy—predominantly private sector, but with a large role of government and public sector—and served as the economic model during the latter part of the Great Depression, World War II, and the post-war economic expansion (1945–1973), though it lost some influence following the stagflation of the 1970s. As a middle way between laissez-faire capitalism and socialism, it has been and continues to be attacked from both the right and the left.[2][3] The advent of the global financial crisis in 2007 has caused a resurgence in Keynesian thought. The British Prime Minister Gordon Brown and other global leaders have used the theory of Keynesian economics to justify intervening in the world economy.[4]

…”

 http://en.wikipedia.org/wiki/Keynesian_economics

 

Austrian School

“…The Austrian School (also known as the Vienna School or the Psychological School) is a non-mainstream school of economic thought that emphasizes the spontaneous organizing power of the price mechanism or price system. Austrians hold that the complexity of human behavior makes mathematical modeling of the evolving market extremely difficult (or undecidable) and advocate a laissez faire approach to the economy. Austrian School economists advocate the strict enforcement of voluntary contractual agreements between economic agents, and hold that commercial transactions should be subject to the smallest possible imposition of forces they consider to be coercive (in particular the smallest possible amount of government intervention).

The Austrian School derives its name from its predominantly Austrian founders and early supporters, including Carl Menger, Eugen von Böhm-Bawerk and Ludwig von Mises. Other prominent Austrian School economists of the 20th century include Henry Hazlitt, Murray Rothbard, and Nobel Laureate Friedrich Hayek.[1] Though called ‘Austrian’ today, supporters or proponents of the Austrian School can come from any part of the world. The Austrian School was influential in the early 20th century and was for a time considered by many to be part of mainstream economics. Austrian contributions to mainstream economic thought include involvement in the development of the neoclassical theory of value, including the subjective theory of value on which it is based, as well as contributions to the “economic calculation debate” which concerns the allocative properties of a centrally planned economy versus a decentralized free market economy.[2] From the middle of the 20th century onwards, it has been considered a heterodox school[3][4] and arguably contributes relatively little to mainstream economic thought.[5][6]

Austrian School economists advocate strict adherence to methodological individualism, which they describe as analyzing human action from the perspective of individual agents.[7] Austrian School economists argue that the only means of arriving at a valid economic theory is to derive it logically from basic principles of human action, a method called praxeology. Additionally, whereas natural experiments are often utilized within mainstream economics, Austrian economists contend that testability in economics is virtually impossible since it relies on human actors who cannot be placed in a lab setting without altering their would-be actions. Mainstream economists are generally critical of methodologies used by modern Austrian economics.[5]

http://en.wikipedia.org/wiki/Austrian_School

Why You’ve Never Heard of the Great Depression of 1920

The Founding of the Federal Reserve

Tom Woods – The Great Awakening – Ending The Federal Reserve

A lesson in the Austrian School

Applying Economics to American History

 

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Led Zeppelin–Videos

Posted on February 7, 2010. Filed under: Blogroll, Communications, Culture, Entertainment, liberty, Life, media, Music, People, Philosophy, Raves, Video, Wisdom | Tags: , , , , , , , , |

 

“Yes, there are two paths you can go by But in the long run There’s still time to change the road you’re on.”

~Led Zeppelin

Led Zeppelin-Stairway to Heaven

Led Zeppelin Black Dog 1973

Led Zeppelin Since I’ve Been Loving You 1973

Led Zeppelin – Whole Lotta Love

BEST PERFORMANCE LED ZEPPELIN LIVE!!!

Led Zeppelin – Achilles Last Stand (LA 1977)

Led Zeppelin – Whole Lotta Love – Knebworth – 1979

 

Led Zeppelin Black Dog 1973

Led Zeppelin – Sick Again (Live 1977)

Led Zeppelin Rock and Roll live

Zeppelin & Neil Young RnR Hall Of Fame When The Levee Breaks

 

Led Zeppelin& Aerosmith

 

LED ZEPPELIN 1969 LIVE Communication Breakdown

http://www.youtube.com/watch?v=p5BpSwVhsmI

Led Zeppelin – Rock ‘n’ Roll – Earls Court 24th May 1975

http://www.youtube.com/watch?v=FPczhhroQN0

Led Zeppelin – The Ocean

http://www.youtube.com/watch?v=IbSugn0dB4c

Led Zeppelin Moby Dick – Earl’s Court 1975 RARE – Part 1 / 3

Led Zeppelin Moby Dick – Earl’s Court 1975 RARE – Part 2 / 3

Led Zeppelin Moby Dick – Earl’s Court 1975 RARE – Part 3 / 3

Led Zeppelin – Kashmir – Earls Court 24th May 1975

http://www.youtube.com/watch?v=h1yFQ6vcRNk

Led Zeppelin – Rain Song – Earls Court 24th May 1975

http://www.youtube.com/watch?v=rmc-eg78gTs

“So tonight you better stop and rebuild all your ruins, because peace and trust can win the day despite all your losing.”

 

~Led Zeppelin

Background Articles and Videos

All Of My Love – Led Zeppelin (Classic Orchestra)

Stairway to Heaven – Symphonic Led Zeppelin

Led Zeppelin

“…Combining the visceral power and intensity of hard rock with the finesse and delicacy of British folk music, Led Zeppelin redefined rock in the Seventies and for all time. They were as influential in that decade as the Beatles were in the prior one. Their impact extends to classic and alternative rockers alike. Then and now, Led Zeppelin looms larger than life on the rock landscape as a band for the ages with an almost mystical power to evoke primal passions. The combination of Jimmy Page’s powerful, layered guitar work, Robert Plant’s keening, upper-timbre vocals, John Paul Jones’ melodic bass playing and keyboard work, and John Bonham’s thunderous drumming made for a band whose alchemy proved enchanting and irresistible. “The motto of the group is definitely, ‘Ever onward,’” Page said in 1977, perfectly summing up Led Zeppelin’s forward-thinking philosophy.

The group formed in 1968 from the ashes of the Yardbirds, for which guitarist Jimmy Page had served as lead guitarist after Eric Clapton and Jeff Beck. Page’s stint in the Yardbirds (1966-1968) followed a period of years as one of Britain’s most in-demand session guitarists. As a generally anonymous hired gun, Page performed on mid-Sixties British Invasion records by the likes of Donovan (“Hurdy Gurdy Man”), Them (“Gloria”), the Kinks (“You Really Got Me”), the Who (“I Can’t Explain”) and hundreds of others. Page assembled a “New Yardbirds” in order to fulfill contractual obligations that, once served, allowed him to move on to his blues-based dream band, Led Zeppelin. …”

“…Meanwhile, the Led Zeppelin legend endures and grows long after their demise, much like that of the Doors and Elvis Presley. The lingering appeal of Led Zeppelin is perhaps best summed up by guitarist Page: “Passion is the word….It was a very passionate band, and that’s really what comes through.” At the dawn of the new millennium, Led Zeppelin placed second only to the Beatles in terms of record sales, having sold 84 million units. Led Zeppelin IV is the fourth best-selling album in history, having sold more than 22 million copies, and four other albums by the band – Physical Graffiti, Led Zeppelin II, Houses of the Holy and Led Zeppelin – also rank among the all-time top 100 best-sellers. Fittingly, Led Zeppelin is tied with the Beatles (five apiece) for the most albums on that esteemed list – a mark of both bands’ impact. In their ceaseless determination to move music forward, Led Zeppelin carved out an indelible place in rock history. …”

http://www.rockhall.com/inductee/led-zeppelin

 

Led Zeppelin

“…Led Zeppelin were an English rock band formed in 1968 by Jimmy Page (guitar), Robert Plant (vocals, harmonica), John Paul Jones (bass guitar, keyboards, mandolin), and John Bonham (drums). With their heavy, guitar-driven sound, Led Zeppelin are regularly cited as one of the progenitors of heavy metal[1] and hard rock music.[2][3] However, the band’s individualistic style drew from many sources and transcends any one genre.[4] Led Zeppelin did not release the popular songs from their albums as singles in the UK, as they preferred to develop the concept of “album-oriented rock“.[5]

Close to 30 years after disbanding following Bonham’s death in 1980, the band continues to be held in high regard for their artistic achievements, commercial success, and broad influence. The band has sold over 200 million albums worldwide,[6] including 111.5 million certified units in the United States[7] and they have had all of their original studio albums reach the top 10 of the Billboard album chart in the U.S., with six reaching the number one spot.[8] Led Zeppelin are ranked #1 on VH1‘s 100 Greatest Artists of Hard Rock.[9] Rolling Stone magazine has described Led Zeppelin as “the heaviest band of all time”, “the biggest band of the ’70s” and “unquestionably one of the most enduring bands in rock history.”[1][10] Similarly, the Rock and Roll Hall of Fame describes Led Zeppelin being “as influential in that decade (70s) as the Beatles were in the prior one.”[11]

In 2007, the surviving members of Led Zeppelin reunited (along with deceased drummer John Bonham’s son, Jason) for the Ahmet Ertegün Tribute Concert at The O2 Arena in London.

 

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