Snohomish County RLC Monthly Meeting: Austrian Economics (you decide the topic!)

  • September 25, 2013 · 6:00 PM

This month’s meeting will be on the 25th of September and feature Rand McGreal an MBA, Seattle area businessman, and author of The Rule of Money. He will discuss Austrian Economics, but best of all, you get to decide the topic! Results will be finalized next Thursday the 19th of September. Please vote on our website at: http://www.snocorlc.org/index.php/2013/09/08/sep/

The Rise of the two schools of Economics (Austrian & Keynesian): Rand will work from a side by side timeline of the rise of Keynesian ideas and Austrian ideas. He will speak briefly about the origin of each of their separate ideas from John Locke to Keynes and from Richard Cantillon to Rothbard. As I go through the charts Rand will show how each school developed ideas in opposition to the other school. Consequently, today the two schools are diametrically opposed. This is a broad overview.

Two views of the Gold Standard (Austrian & Keynesian): Rand will trace the history of the gold standard beginning in Egypt through to the present day. He will describe the checkered past of the gold standard and how it has a long history of destroying economies, and then conclude by explaining the Austrian view and the Keynesian view of the Gold Standard today. This is a discussion of a topic in depth.

Keynesian Economics is a Flat Earth theory: Rand will explain how Keynesian Economics is a two dimensional view of the economic landscape versus Austrian Economics that is three dimensional. In the course of this discussion Then he will explain how Keynesian Economics only works in a two dimensional world. It is a science of Newtonian objects. Finally Rand show how Austrian Economics embodies three dimensions and performs in the fourth dimension. This is an analysis of the advantage of Austrian Economics versus Keynesian Economics.

About Rand McGreal: Rand worked as a Senior Manager at a bank, a national retailer and an international construction firm during the last thirty years. When the Global Financial Crisis developed in 2008 Rand felt the reasons advanced by academic economists for the cause of Crisis were skewed. Instead of finding a flaw in the political/economic system that managed the economy, Academia was quick to blame the Crisis on bad behavior by bankers. Academic economists seemed bent on proving they were not at fault. Rand found that explanation missing the point. He wanted to find the root cause and suggest ways to eliminate the defect in the system. This search led him to a uncover a number of hidden flaws in basic Economic theory. His book The Rule of Money, uses his experience in business to create a real world economic theory.

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