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Always rich or constantly poor, Enabling factors
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QUOTE(krzystofer @ 25/05/2010, 20:11) Macroeconomics derives a number of tools which are applied in some purposeful way. It has hardly something to do with the historical arguments behind a country's success. To put it briefly, monetary policy is described in rather more short-run terms. Having said that, the long-term direction of particular monetary or fiscal actions is the absolutely necessary condition for economic stability.
I strongly disagree. Friedman’s and Smith’s books are concerning long-term conditions for nations, states and societies in terms how they became rich. Some their books are really historical. But I have to agree that fiscal conditions are really quite irrelevant in this process.
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A wee splash of common sense deduction: - historical reasoning behind some nations' richness is considered to be lasting for centuries - macroeconomics as a discipline has its roots in Smith's observations at the advent of Industrial Revolution Although Friedman or any of the neoclassical scholars are consistent in outlining the necessary conditions for economic growth, the nation as such is not a subject to quantification or quantitative analysis. Hence; I am not quite sure, whether the IS, LM, FE fomulas can be applied to the discussed problem.
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As far I know, Smith and Friedman were not men who wanted to describe the world in any formula. It is difficult to make any formula from economic freedom which was the favourite factor of growth to both of them. Nevertheless, many of their theories (in Friedman’s case, a great majority of them) have never been denied. This is why I think it is crucial to consider macroeconomics’ factors when the ways to become rich for nations are discussed. Besides I think that considering the Milton Friedman’s theories as neoclassical is a misunderstanding.
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QUOTE(historix49) This is why I think it is crucial to consider macroeconomics’ factors when the ways to become rich for nations are discussed.
It is indeed pivotal, but irrelevant for the thread, which examines the non-economic factors contributing to the growth and development.
QUOTE(historix49) Besides I think that considering the Milton Friedman’s theories as neoclassical is a misunderstanding.
Obviously, noone dares doing it.
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QUOTE(krzystofer @ 1/06/2010, 20:43) QUOTE(historix49) This is why I think it is crucial to consider macroeconomics’ factors when the ways to become rich for nations are discussed. It is indeed pivotal, but irrelevant for the thread, which examines the non-economic factors contributing to the growth and development.
And where is said that the thread does not? But if it is true, then the thread is reaally relevant to antything?
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QUOTE And where is said that the thread does not? But if it is true, then the thread is reaally relevant to antything?
Have a look at the factors listed in the initial survey - apart from low inflation, which has been almost completely ignored by most of the users, all of the others are simply sheding a light on non-economic reasons behind the countries (not the states) richness. I admit to have serious obstacles to understand the second question.
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It is easy. If this thread does not concern an economy and every thread which has got such title just should, it means it is irrelavant to anything. Considerations about richness and poorness without economy is like consideration ancient events without history.
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QUOTE(historix49) It is easy. If this thread does not concern an economy and every thread which has got such title just should, it means it is irrelavant to anything.
Just the way you originally raised your arguments was not quite straightforward. The thread, as I suppose, attempts to find the rationale behind the nations' economics growth (not the states!) in non-economic factors. I do not intend to challenge the topic's founder.
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In my humble opinion, consideration a wealth and poverty without economics is a useless effort. As I said, considerations about richness and poorness without economics is like consideration ancient events without history.
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QUOTE(historix49) In my humble opinion, consideration a wealth and poverty without economics is a useless effort. As I said, considerations about richness and poorness without economics is like consideration ancient events without history.
Obviously, economists attempt to explain the growth using mathematic formulas, equations and human behaviour. The latter can be easily linked to some of the factors listed in the thread.
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QUOTE(krzystofer @ 9/06/2010, 8:34) Obviously, economists attempt to explain the growth using mathematic formulas, equations and human behaviour. Could you quote anything of Adam Smith that can be any mathematic formula or equation? I would like to remind that he was one of the greatest economists ever.
QUOTE(krzystofer @ 9/06/2010, 8:34) The latter can be easily linked to some of the factors listed in the thread.
No. It cannot. As I said, considerations about wealth and poverty without economics is like consideration ancient events without history.
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QUOTE(historix49) Could you quote anything of Adam Smith that can be any mathematic formula or equation? I would like to remind that he was one of the greatest economists ever.
You have made loads of confusion Have I ever said that Adam Smith used any quantitative methods ? I have only generalised about the predominant techniques used for economic purposes.
QUOTE(historix49) No. It cannot. As I said, considerations about wealth and poverty without economics is like consideration ancient events without history.
There is some correlation between the behaviourist explanation of growth and some of the factors listed in the thread - including the broad meaning of 'mentality' and 'culture'.
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QUOTE(krzystofer @ 9/06/2010, 17:46) QUOTE(historix49) Could you quote anything of Adam Smith that can be any mathematic formula or equation? I would like to remind that he was one of the greatest economists ever. You have made loads of confusion Have I ever said that Adam Smith used any quantitative methods ? I have only generalised about the predominant techniques used for economic purposes. And I assume you have very limited knowledge about economics. There are not predominant techniques of macroeconomics.
QUOTE(krzystofer @ 9/06/2010, 17:46) QUOTE(historix49) No. It cannot. As I said, considerations about wealth and poverty without economics is like consideration ancient events without history. There is some correlation between the behaviourist explanation of growth and some of the factors listed in the thread - including the broad meaning of 'mentality' and 'culture'. No, it is not. Societies’ behaviour in terms of wealth and poverty are dependent on iferent factors according do Adam Smith and Milton Friedman. As I said, considerations about wealth and poverty without economics is like consideration ancient events without history.
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QUOTE(historix49) And I assume you have very limited knowledge about economics.
I found it pretty laughable, considering my degree in economics and your unique style of discussion used elsewhere on Forum.
QUOTE(historix49) There are not predominant techniques of macroeconomics.
Again, I experience serious problems with understanding your language. I have no idea what 'techniques of macroeconomics' can mean. In fact, if you raise arguments about the methods used in macroeconomic approach - well, most of the modules I did, including macroeconomics as such or macroeconomic analysis draw excessively on quantitative techniques, including mathematic formulas or curves.
QUOTE(historix49) No, it is not.
I have to make a number of assumptions in order to understand your arguments. Anyways, some of the economists linked the growth to factors such as culture or mentality. I reckon you wish to challenge them.
QUOTE(historix49) As I said, considerations about wealth and poverty without economics is like consideration ancient events without history.
Ok, acknowledged, but you phrased it third (fourth?) time. Eventually, if you are not fond of the topic, you can make up your own.
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QUOTE(krzystofer @ 10/06/2010, 10:56) QUOTE(historix49) There are not predominant techniques of macroeconomics. Again, I experience serious problems with understanding your language. I have no idea what 'techniques of macroeconomics' can mean. It is not my problem. You have used a term “predominant techniques” first. If you do not understand what you write, it is not my problem.
QUOTE(krzystofer @ 10/06/2010, 10:56) In fact, if you raise arguments about the methods used in macroeconomic approach - well, most of the modules I did, including macroeconomics as such or macroeconomic analysis draw excessively on quantitative techniques, including mathematic formulas or curves. Have you ever read any book of Milton Friedman, Adam Smith? How many formulas or curves there are?
QUOTE(krzystofer @ 10/06/2010, 10:56) I have to make a number of assumptions in order to understand your arguments. Anyways, some of the economists linked the growth to factors such as culture or mentality. I reckon you wish to challenge them. But those economists have listed out more important factors that are not listed by you.
QUOTE(krzystofer @ 10/06/2010, 10:56) QUOTE(historix49) As I said, considerations about wealth and poverty without economics is like consideration ancient events without history. Ok, acknowledged, but you phrased it third (fourth?) time. Eventually, if you are not fond of the topic, you can make up your own.
And I will repeat many times more. Until you will understand it or you will cease to deny this obvious truth.
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