Praxeology: The Austrian Method (by Hans-Hermann Hoppe) - Introduction to Austrian Economics, 6of11

The point Hoppe was trying to make to that ignorant bozo is that making money in finance depends on predicting the market, it means guessing what peoples' preferences will be in the future and buy stocks correspondingly. Doing that is more of an art than a science. There is no way to scientifically know future market behavior. Prices are just based on subjective valuations as well. Therefore doing highly abstract finance is pointless.

It is long term investors like Warren Buffet and entrepreneurs like Bill Gates who get rich, not these math-type stocktraders. Timing the market and entrepreneurship is an art, not a science. It relies more on intuition rather than rigorous analysis. Financial techniques are important, but it will only get you so far.

@charronfamilyconnect I think you're confused on what the gold standard is. The gold standard is simply a market chosen commodity that fills the role of money. Gold is often chosen as this because of it's utility in the market, divisibility, transportability, etc. Supposing the entire amount of gold would fall into the hands of one individual (of course just presumtion ;D ) another market commodity would fill the role, such as silver, platinum, etc. It could be anything with market value.

0 Dislikes should tell you as much as you need to know.

I have just listened 20 minutes of it. Amazing introduction for the philosophical origin of neo-classical school. Simple and profound.

Lionel Robbins later on regretted that he sided with Hayek During Great Depression.

"To treat what developed subsequently in the way which I then thought valid was as unsuitable as denying blankets and stimulants to a drunk who has fallen into an icy pond, on the ground that his original trouble was overheating.” (Robbins 1971: 154"

Praxeology is a pseudoscience.

Empirical "economists" and people in central banks are able to believe that they can "predict" acting of masses for the following reason. They try to set up self-fufilling prophecies asa hard as they can. They influence people's actions through regulations, subsidies, monetary policy, etc. while people stay pretty much uninformed about all this. There is also forced acceptance of statist ideology, deplatforming, etc.

It boggles my mind how Karl Popper misused "Rationalism". He adamantly opposes that knowledge originates exterior to our brains as the Empiricists Locke, Berkeley and Hume contended. Popper promotes the view that, "All observations are theory laden". How is that even remotely Empiricist? How Popper, a falsificationist who spoke out clearly against Logical Positivism, can be a Positivist himself defies logic. How is Hoppe so ignorant and misguided?

Thank you for posting these...
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