/biz/ - Business & Finance

[Anonymous No.30410266]

Thinking about reading this to get a basic understanding of how the world we live in works, thoughts?

[Anonymous No.30410384]

>>30410266
Listened to the audiobook twice this week. I have no background in this subject. I thought it was interesting.

[Anonymous No.30410403]

>>30410266
Good book. I’ve even people here criticize it without really elaborating.

[Anonymous No.30410604]

>>30410266
Hume is the simplest economic method.

[Anonymous No.30410760]

>>30410266
Read this and then read Wealth of Nations by Adam Smith and then read Marx's Capital.

[Anonymous No.30411007]

>>30410266
It's more like an understanding of how the world should work (or how libertarians believe the world should work). If you want to actually understand how the world works, read the books that policy makers like people in the Fed or in big hedge funds read--not to subscribe to them but to understand how these people think.

To make money though, just read Micheal Burry's recommended list:

The Intelligent Investor by Graham
Common Stocks and Uncommon Profits by Fisher
Why Stocks Go Up and Down by Pike
Buffettology by Buffett and Clark

[Anonymous No.30411075]

>thomas sowell

[Anonymous No.30411277]

>>30410760
>then read Marx's Capital
then read Bohm-Bawerk's Karl Marx and the Close of His System

[Anonymous No.30411517]

>>30411075
Who's better?

[Anonymous No.30411890]

>>30411517
http://leeconomics.com/Literature/Henry%20Hazlitt%20Economics%20in%20One%20Lesson.pdf

[Anonymous No.30411924]

>>30411007
Do you have a pdf for Why Stocks Go Up And Down? Cant find anything that doesnt require me to sign up to something

[Anonymous No.30411953]

>>30411075
>basedwell

[Anonymous No.30411976]

>>30411007
Do you have a pdf for Why Stocks Go Up And Down? Cant find anything that doesnt require me to sign up

[Anonymous No.30411980]

After that, buy link and read the Sovereign individual

[Anonymous No.30412035]

In before Nazicucks come in shilling Stephen Goodson

[Anonymous No.30412057]

>>30411924
Just buy it. It's only $10 on amazon kindle and the investment will give you incentive to actually finish the book. Also if you read it within 7 days you can return it for a full refund.

[Anonymous No.30412085]

I started with the ascent of money.

[Anonymous No.30412149]

>>30412057
anyway if anonymity/privacy is the concern, it's on libgen as well.

[Anonymous No.30412153]

>.Anonymous (ID: qp6o7tx9)
03/07/21(Sun)13:06:04 No.30412035
752 KB
752 KB PNG
>In before Nazicucks come in shilling Stephen Goodson

[Anonymous No.30412171]

Read george soros (unironically).

[Anonymous No.30412196]

>>30412153

[Anonymous No.30412250]

>>30411890
based. austrian economics is a must in the age of fiat

[Anonymous No.30412338]

until you understand it you can never reach a view of the world that feels complete in any real sense. you are just living inside a bubble that feels real

[Anonymous No.30412409]

>>30410266
best book out there. and its free on youtube ( not whole , but 9 hours)

[Anonymous No.30412443]

>>30412196
when the time comes don't even beg for mercy, jew and nigger loving piece of shit.

[Anonymous No.30412461]

>>30411075
>literally the only black person ever to learn economics
Unironically based

[Anonymous No.30412612]

>>30412443
>when the time comes don't even beg for mercy, jew and nigger loving piece of shit.

[Anonymous No.30412665]

>>30412461
>literally the only black person ever to learn economics

You mean apart from Walter E. Williams, George Schuyler...

[Anonymous No.30412681]

>>30410266
i have a degree in economics and i still dont know what economics is

[Anonymous No.30412695]

>>30412338
Why would I want to have 0 understanding of the concept of value

[Anonymous No.30412843]

>>30410266
haven't read this, is it worth the read? also will probably read capital by marx for different view.

[Anonymous No.30412988]

>>30410266
unironically Capital

[Anonymous No.30413733]

niggers are worse than monkeys. sage this shit

[Anonymous No.30414109]

>>30412665
>Walter E. Williams, George Schuyler...
Lol.

[Anonymous No.30414161]

>>30414109
>Lol.

[Anonymous No.30414303]

Economics is too high IQ for you faggots. Even Math and Physicsfags can’t properly comprehend how economics work. That’s why the vast majority of people on the planet are poor. You need a minimum of 170 IQ to understand advanced economic principles.

[Anonymous No.30414309]

>>30412695
>thinking price is the same thing as value
you've obviously never read Marx

[Anonymous No.30414356]

>>30410266
he is based, and i'm a nazi btw

[Anonymous No.30414419]

>ITT people who dont understand/have never read Capital

[Anonymous No.30414427]

>>30412338

[Anonymous No.30414628]

>>30414427
>theory can analyze everything in a convincing way
>everywhere you look you can find confirmations

this is an argument against Marxism how?
Go read Captial instead of what other people have to say about it.

[Anonymous No.30414639]

>>30414309
I’m talking about Labour Theory of Value and totally controlled markets retard

[Anonymous No.30414711]

>>30410266
It’s all pure billows. Nobody know economics and economic theory has no value

>the few who know don’t write best sellers about it

[Anonymous No.30414718]

>>30414309
>>30414419
>>30414628
>Jews stop being jews because they're atheists

[Anonymous No.30414777]

>>30411890
Nope, Sowell's book is better. Hazlitt's Is decent though.

[Anonymous No.30414854]

>>30414427
It's good because it -doesn't- explain everything, you dongus. You're a dongus like popper

[Anonymous No.30414866]

>>30414419
>exchange value is a manifestation of intrinsic value
>intrinsic value is an immutable constant based on some other input constant
>actually, exchange value is in flux, but is totally just “accidental”
>I will now continue to define value in such a way as to guarantee that which I seek to prove
>(looks out window): aha! 1qtr corn is trading for 1cwt iron.
>although this relationship only relates to one market at one instance in time, I will assume this is a constant immutable ratio similar to weight conversions and continue to build a theory of value based on this instantaneous measure.
>behold! The law of value, which states, that exchange value (something observably dynamic) is but a manifestation of intrinsic value (something I assume to be static, for reasons I never explain) which is the manifestation of labor hours in the commodity’s production.
>all labor is built of homogeneous labor units
>well, I mean socially necessary labor
> well actually, labor units seem to be different in the real world sooooo…what I really meant was that labor units are actually derived from the average labor of the entire industry of analysis
>yes!….a dynamic quantity(exchange value) is a manifestation of a static quantity(intrinsic value) which is a further manifestation of yet another dynamic quantity(socially necessary labor time) which is really just the manifestation of a static quantity (average labor unit) that I just made up just now which at no time ever been or could possibly be actually calculated or used in anyway I claim it to be at any point in observable economic history.
>oh by the way, I will disavow this entire law of value by vol. 3 as I concede it has no legitimate representation in the observable world (balanced rates of profit), but will keep the conclusions based on this terrible logic (exploitation theory) reducing my philosophy to a religion.

[Anonymous No.30414933]

>>30414718 wow great pol tier response
>latching on to the least relevant part of marx's writing that has literally no bearing on the rest of his views... again, go read Captial instead of jerking off to 2 paragraphs from "on the jewish question"

[Anonymous No.30415037]

>>30410266
>thoughts?
Just fucking do it?

[Anonymous No.30415098]

>>30414303
Right

[Anonymous No.30415109]

>>30410266
read economics in one lesson to learn based Austrian economics

[Anonymous No.30415186]

>>30414933
>formatting
>Marxist faggot
>”heh, ahcktually if you really read-”
>/Pol/ tier response
A genuine fuckin redditor

[Anonymous No.30415329]

>>30414866
>thinking exchange value is "immutable" or "constant"
>thinking the same of exchange value
>thinking labour units are made up
>thinking you need to accept everything marx says in Vol.3 to agree with the labour theory of value
wow its almost like you havent read capital and instead just read a bunch of secondary sources that lead you to massively misunderstand its main points

[Anonymous No.30415373]

>>30412035
This. Nazism was eventually a milder version of communism.

[Anonymous No.30415464]

>>30414303
True. But do you think understanding of advanced economics correlates with financial success?

[Anonymous No.30415626]

>>30415109
This. Best intro you can find

[Anonymous No.30415659]

>>30414628
Your epistemological house is not yet in order. Marx put forth all kinds of empirically falsifiable hypotheses and his theories have been falsified many times in many places. His theories are defective. It's worth pondering why false hypotheses can provide a person with a seemingly secure and certain all-encompassing worldview.

[Anonymous No.30415879]

>>30411075
He is one of the few niggers that really deserve the crown
>le based nigger
It is disingenuous on your part to admit otherwise. He will not be harmed come day of the rope
t. more racist than you

[Anonymous No.30416226]

>>30415464
By understanding economics, you don't rely on third parties to tell you what the Jews are up to. You just manually go to the Fed website, download their reports and read them thoroughly, and you know what tricks the Jew is up to. Move tour assets accordingly. Its close to having q crystal ball. For example; in the short term expect the market to go parabolic, but we are all fucked in the long term.

[Anonymous No.30416314]

>>30415373
>>30415464
>>30412035
>economic model applied in Germany [Japanese Economic Miracle]
>economic model applied in Japan after WW2 [Japanese Economic miracle]
>economic model applied to China after the Deng Xiao Ping reform [Chinese Economic Miracle]
>You will ignore decentralization, goy

[Anonymous No.30416366]

>>30410266

Thoughts on

$MCM?

[Anonymous No.30416438]

>>30416314
Nazi-germany had modern Europe level income taxes and they were rising every year

[Anonymous No.30416753]

>>30416366
i hold some but stop shilling in every thread

[Anonymous No.30417064]

>>30414628
>Go read Captial
Can you not condense your economic philosphy into one paragraph? Have you every wondered why it takes so many books to justify stealing? Thomas Sowell writes books because they're fun to read but it really doesn't take long to explain property ownership. Can I take your wallet? No? You wouldn't like that? Okay then stop forcing that system on society.

[Anonymous No.30417118]

>>30415329
>thinking exchange value is "immutable" or "constant"
>thinking the same of exchange value
(picrel) Exchange value is changing representation of the use-values (the use cases satisfied by the properties of the commodity itself, properties aren't changing) ie intrinsic value. He then goes into his labor units theory being the property of commodities that give value. He conveniently leaves out natural resources (no labor involved but still having exchange value) and non-reproducible goods (having a fluctuating exchange value not at all based on labor input).

>thinking labour units are made up
They are. Marx's insistence that skilled labor are just multiples of simple labor are arbitrary and describe no actual homogenous units of labor we can observe. His further insistence that they are just an average of the total labor of specific industries is just further arbitrary logic that he imposes to prove the nonsensical labor theory of value.

>thinking you need to accept everything marx says in Vol.3 to agree with the labour theory of value
So only some parts of Capital are worth reading and considering? You've just conceded the contradiction but want to cling to the premise. Either you have the labor theory of value and disparate profit rates or, as Marx concedes in vol3, rates are equalized and must toss out his theory of value.

[Anonymous No.30417163]

>>30411924
>Why Stocks Go Up And Down
https://book4you.org/book/2611125/7e3e98

[Anonymous No.30417204]

>>30416314
"The abolition of enslavement to interest gives us the possibility of pursuing the repeal of all direct and indirect taxes."
>later in the book...
"We are now not at all of the opinion that one should entirely abolish direct and indirect taxes;"

[Anonymous No.30417497]

>>30416438
>Nazi-germany had modern Europe level income taxes
And still lifted millions out of poverty, wouldn't that be an argument against your lolbert plebbit tier of economic thought? Aren't taxes bad? Or do you completely deny Germany's economic recovery?
>>30417204
>All forms of taxation are bad
That's the implication you're making, retard. No anarchist movement ever won a war.

[Anonymous No.30417931]

>>30417497
>That's the implication you're making, retard
I'm quoting the author in his appeal to the reader. What other implication could you draw from it? While it is not necessarily a contradiction, as he says "the possibility", it is at best muddled writing when given his later follow up. Did Feder not write the first statement I quoted? If you associate a promise of direct and indirect tax abolition with anarchism, would it imply that Feder is an anarchist as he seems to be appealing to in his manifesto?(rhetorical)

[Anonymous No.30418193]

>>30410266
Based Uncle Tom

[Anonymous No.30418252]

>>30417931
>muh weimar taxes VS no taxes at all False dichotomy
>While it is not necessarily a contradiction
It isn't, and what you said initially implied it is.

[Anonymous No.30418731]

>>30417064
>if I can’t put it into an image macro it doesn’t make sense!!!

Imagine bragging about being this stupid, anyway enjoy renting Jeff Bezos pods for the rest of your life because his property rights trump the petty baron’s

[Anonymous No.30418874]

>>30417118
>the nonsensical labor theory of value

Nonsensical to what? Barter theory? Goldbuggery? Outdated wealth of nations exchanges?

[Anonymous No.30419022]

>>30415329
Why even bother? American’s understanding of economics come from willful ignorance and Austrian shills obfuscating basic theory. Americans are trained to blindly ignore the soviet conditions that capitalism has produced in their country.

[Anonymous No.30419237]

>>30410266
I would recommend reading some primers on business administration as well.

Understanding the principles of economics is important, but understanding what constitutes a healthy business (or operation of any kind, really) enhances that understanding with respect to analyzing investment prospects.

[Anonymous No.30419561]

>>30417163
thank you

[Anonymous No.30419860]

>>30411890
This is a game changer

[Anonymous No.30421206]

>>30418874
>Nonsensical to what?
Subjective value; exchange value is determined by marginal utility of a good/service. Marx employs Aristotle’s “exchange of equivalents” when making his initial assumptions about the exchange between the 1qtr corn=1cwt iron. He mistakes these commodities as having an equivalent value to the participants of the exchange as if they are trading $20 bills back and forth. This confuses the actual event taking place, namely, that the participants are valuing the other good more highly than they value the good they are losing based on the perceived utility to be gained from the new good. There is in fact a double inequality of values, one participant values the corn more highly than the iron and the other has opposite values which facilitate and explain why they would be willing to go to the trouble of exchanging in the first place. If they were of equal value then the entire exercise is irrational and serves no purpose (like trading $20 bills back and forth). Subjective value theory can also explain that which the labor theory cannot, exchange value of nature given resources and non-reproducible goods (think paintings of fluctuating value irrespective of any further labor input).