Do you know the movie network? In which some anchor is mad. Partly because the network is being purchased, due to the terrible economic situation, because people are not reading newspapers and that people are no longer reading books. The average person reads 1 book a year. Which is a fiction book as well? But if you are desiring success in life this is not the route you have to follow.
There is 1 book I think you need to read. It is human action. Never heard about it? I thought so. Most people have not. It is the Magnus opus from Ludwig von Mises. It was written in the 1930s and saved the complete Austrian economy. Let me explain. We have a few economic schools in the world. There are many people supportive of the Chicago school. The Keynes economic model. The government needs to stimulate when things are going bad. By the mid 193s, this was already popular. It resulted in the tragedy of WWII. With the stimulus we are seeing right now I must admit that I expect the same outcome.
But Human Action is not limited to pure economic theory. It is pretty pra tical. It goes full in against Das Kapital from Karl Marx. As you know Marx supports the means of production in the hands of the government. We saw in the Sovjet Union how it did work. Mises is for the means of production, factories, farmland, private firms, in private hands.
But the third reason why you need to read Human Action is the best one. At least in my opinion. The current economic model is failing us. Central bank stimulus will lead to inflation or hyperinflation in consumer prices. So all is getting more expensive. The bubble on the financial markets was created by the central banks. Do you remember the Occupy Wall Street movement? This was for good reason. The economy was destroyed and big banks and corporations were supported. This is going to happen again. The revolt against what’s happening is not changed. Occupy, yellow vests, Black Lives Matter. They are all signals of something that’s happening. People are sick of the current system.
Unfortunately are changes in economic thinking, or political thinking, difficult to accomplish. Who cares about the solution when there is someone to blame? Who cares about finding sustainable solutions. Take the police brutality, we demonstrate and in Minneapolis, it will be abolished. With the money going for social workers. I enjoy the start: abolish the police. But the second part means the government will get the same percentage of the economy. While I would simply reduce this percentage. After all, is the government failing us to provide security? It says that we are not entitled to it.
So if you are sick of what’s happening right now. If you are open to real change. Why not read a different book? It is an economic modeling book that is tough to get in, for the first time. But that is with all revolutionizing economic books. Please raise your hands who have read Das Kapital from Marx? Yes, once again I’m alone.