The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups. -Henry Hazlitt, Economics in One Lesson, 1946

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Monday, September 28, 2009

The Austrian Economics Cloud

Austrian Economics is a school of thought, on the discipline of Economics as both art and science. Others have defined it better than me, but I am taking liberty, with my background in the Internet about 15 years, and social networks ever since the first bulletin boards and IRC channels came to be.

This then, is what I mean when I coin the term Austrian Economics Cloud:

n. The interconnected, or linked web of resources via the internet, social media, and other similar technologies, and their derivations, that relate primarily to Austrian Economics broadly.

While each resource in the cloud may be a general portal of its own, or a very specific, focused aspect, such as about a particular author, a particular work, or a particular event, it usually has a root in time, and is gathering a following of interested people, organizations, or other resources.

Social Cloud Theory

Others may have done work here I am unaware of at this point, but for to explain further:

An internet cloud, like its natural counterpart, is not much if it does not collect from its local atmosphere. The more it collects, the more dense it becomes in its interconnected relationships and the faster information is transferred from one to another.

Eventually it will give rain, sometimes it will storm, and sometimes it will provide lightening. Rain, is the provision of the cloud to others. The more rain in an area, the better the growth of trees, their root systems, trunks, and branches. The better these resources will provide for their visitors, much needed fruit. Such a fortified cloud system can glide with the wind over resources that need to be purged - such as the weeds of nature, the deadwood of false chicago and keynesian economic theory and the cloud will give its lightening to split these trees down to their roots. The rain and lightening come from the targeted activism, of people in the social cloud.

Ok, parable over. Let's get to work.


1 comment:

  1. Great blog.

    I recently read Economic In One Lesson and the way Hazlitt explains economics in such a simple manner makes it a great introduction to the Austrian School.


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