Thursday, June 7, 2018

Blame Trump for the Bad Economy?

To what extent will Trump be blamed for the bad economy? 

What will be the reasons? Deregulation? Tariffs?

At no point do I expect major news networks to scrutinize the Fed. To ignore Trump for one second and do some real investigation of the economy. 

Here's a good starting point: what do you mean by science? For, if there is something to be said about an objective economy, an economic science, economic knowledge rooted in facts and reason - then to what extent will Trump be blamed for the bad economy?




Science predicts. Karl Popper's falsification principle is a good starting point. But what about knowledge that doesn't conform to the scientific method? 

The scientific method is good at explaining natural phenomena. Applied to individual action, not so much.

Austrian economics, or praxeology, is knowledge that is a priori. 

"Fuck Kant," you might say, "this a priori and a posteriori distinction is bullshit."

And that's a great argument to have. Unfortunately, those are not criticisms of Austrian economics I often come across.

If we even get to that point. After the endless arguments about minimum wage, price controls, government ownership, welfare, and bureaucracy, there's just no room for philosophy.

"Philosophy?! Who needs it!" says the strawman.

Sorry, straw-person.

This person may retort: "Our knowledge depends on empirical evidence derived from experience. This is the foundation of not only our science but our personal understanding of the world. It's the scientific method or bunk."

To which I say, a priori knowledge is independent of experience, as with mathematics, deduction from pure reason, and tautologies (e.g. "all bachelors are unmarried").

All ontological proofs are a priori. 

Would you say string theory is pseudoscience? It is non-falsifiable. 

Some make this argument. That String Theory must be some conspiracy theory held by scientists to make themselves seem smarter than they actually are. 

Okay, not a conspiracy theory, just a popular idea that caught on. Now String Theorists are like cult-members who can't see the truth. These physicists want so much to know about the how the universe works they're willing to make shit up and peddle it as the truth.

Or... there is knowledge independent of experience. Like 2+2=4.

Okay, can we get back to Trump now? 

To what extent will the Orange Dingbat get blamed for the bad economy? 

To the extent that tariffs actually do hurt the economy, and when the smoke-show the Fed has been putting on finally begins to unravel (and there's nothing they can do about it), Trump's tariffs and general presidency will take the heat.

But we both know the problem rests with central banks, fractional reserve banking, fiat money and government corruption. 

Trump is a symptom of the disease. He can be blamed for criticizing the Fed during the campaign but doing shit-all as president, but, to be a truly mature and responsible person, we need to blame ourselves.

Seriously, we have no one to blame but ourselves.

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