Post
Topic
Board Economics
Re: Interest rates in a deflationary currency
by
malditonuke
on 05/06/2013, 18:10:25 UTC
Well on this thread you're the one banging on the pulpit.

I never said I wasn't, it's myrkul who needs to defend this absurd claim that the rest of 'you' and 'Austrians' broadly are not operating out of a moralistic framework that rationalizes usury by defining the lender as morally virtuous and the borrower as morally flawed.

Economics is value-free.  Borrowers are not "bad" and savers are not "good".  If you want to argue about "usury", do it in the religious section.

Anyone claiming that their ideology is value free is either ignorant or ashamed of the values it actually carries.  Nothing made by man is free of value judgments, especially economics.  You would have to be the most blindly obtuse person ever born to think that Marx-vs-Adam Smith or hard-vs-soft money or the Keynes-vs-Hayek debates are value-free, it is saturated with value judgments.  These are indeed some of the most pivotal value debates that have existed in the last century.

Economics is not an ideology; it is a science.  Like other sciences, to properly study economics you must be able to remove your ideological hats.  I know that it's hard and that many people fail.