Opsis One

As learning beings we adjust to the failures of our ways slowly, continuing to make the same mistakes until we discover principles that redefine our world view.

[Opsis One @Opsis_one]

Mises Gave us a great definition of an entrepreneur, while discussing prices, that I think has been overlooked.

Entrepreneur: Practical Men eager to improve human conditions by removing uneasiness as far as possible under the present state of conditions.

[Joel Salatin @JoelSalatin]

I have been called a lot of things in my life but the Lunatic Farmer is one I agree with.

[Opsis One @Opsis_one]

Economics is the study of how the act of applying causal knowledge to transform useful things into goods of substance, in order to maximize their availability under conditions of scarcity, built civilization.

[Joel Salatin @JoelSalatin]

Joel Salatin checking in here. I just wanted to let you know that I’m finally here on X and want to give a huge thank you to all of the people that helped spread the word about my account to help me get access back. I’m really excited to start posting here regularly!

[LOCAL BEEF 👉🏻BeefMaps.com @BeefMaps]

🚨 While Trump’s cutting deals to buy Argentine beef, American ranchers can’t even sell their own.

In New Hampshire, there’s a 2-year waitlist just to process cattle — and federal law makes it illegal to sell local beef without a USDA stamp.

[Opsis One @Opsis_one]

@Fyterian @AaronSepulvedaC having said that, I think Aaron did make a distinction of the credit vs monetary expansion and I think I missed that up front.

[Opsis One @Opsis_one]

@Fyterian @AaronSepulvedaC Yes, he is talking about credit expansion/deferred payments contracts.
Functionally who gets the money isn't important. It's the type of expansion.
1 increases real resources the other promises, 1 resource to multiple people.
The Latter guarantees a bust.

[Opsis One @Opsis_one]

@AaronSepulvedaC Valid argument. I understood the ABC as a critique of FRB, not money creation per-say. The ratio of Reserves to Goods is always in flux, regardless of the system. The exaggeration of reserves creates the miss-allocation. Regardless of who spends it.

[Opsis One @Opsis_one]

@PeterSchiff The one that circulates first has the lower real value.

[Opsis One @Opsis_one]

@sharpe_way Seem like the Courts are open to Voting Suits.

What are some of the ways that the LP could be involved in getting some of the unfair practices thrown out.

https://t.co/6yaJwWAREJ

[Opsis One @Opsis_one]

@GeorgeSelgin Capital is stored money stocks, I.E. idles resources. Fluctuations in demand will increase or decrease the capital stocks.

[Opsis One @Opsis_one]

@BeatrizGietner Money is a low valued first order good at best. The "characteristics of money", is classical nonsense, that doesn't stand up to reality. I.E. sound money is economic drivel that keeps economists from developing deeper insights on the economy.

[Opsis One @Opsis_one]

@PAHoyeck Money is a low value first order good.

[Opsis One @Opsis_one]

@SantiagoAuFund @RealKeithWeiner https://t.co/pd6Np1vX5g

[Opsis One @Opsis_one]

@AaronSepulvedaC I think Menger always thought of money as a 2nd order good. An exchange is a form of transformation, in particular to control of resources. Having said that, bitcoin would invalidate Mises' regressiom theorum.

[Opsis One @Opsis_one]

@fr4c1c0n @jeffdeist All money tends toward zero. Keep in mimd money is a low first order good. Even gold tends to have little to no first order good value. Money is at best a 2nd order good.

[Opsis One @Opsis_one]

@NewmanJ_R MMT similar to Keynes is the idea that economizing is a bad thing.

[Opsis One @Opsis_one]

@GeorgeSelgin Money originates from a dynamic equilibrium of subjective value and social acceptance. Money therefore must be defined as either high or low value in terms of marginal utility for direct use, and it's acceptability in trade.

[Opsis One @Opsis_one]

@BadFLFarmer Money actually tends to have low direct use value. Menger classifies it as a 2nd order good, meaning not intented for direct satisfaction.