Friday, July 15, 2011

Keynesian Economics Bar Crawl

On July 23,  a "Mixed Economy" cocktail will be served at three different Austin bars, according to CNBC's Jane Wells.

"Rampant Free Market Ideology Has Put the Idea of a Mixed Economy ‘on the Rocks’" is Litt's pitch, according to Wells. He's promoting on the bar crawl on and on his website -

No doubt this is what Keynes really meant by liquidity.


  1. The fundamental goal of the economic system is to provide a mechanism to provide the opportunity for the members of the society to survive. As the society progresses, the members of the society may also wish to provide the opportunity for individuals to prosper at some level above subsistence.

    Bwa hahahahah what a stupid Marxist! Good lord. People wonder why the "middle and lower classes" are stagnating when they're employing the stale economic fallacies of over a 100 years past!

    Here's hoping this bar crawl turns into "lights out" for Keynesian pseudo-economics and Marxist fallacies. These intellectually bankrupt theories ought to be thrown to the curb, not welcomed in the bar, passed out in the gutter where they belong.

  2. Well, if I learned anything from the first Keynes v Hayek rap video, it's that Keynes is definitely the one you'd want to party with.

  3. @GSL - But it could get crowded around the toilet in the morning.

    Looking at the crap at "Mixed Economy", I'd normally ask "What is this woman smoking?", but I guess it's just the booze talkin'.

    Gives alcoholism a bad name!

  4. These are the type of people I have to deal with here in hipster flooded Austin. They are even worse than the mindless drones that surrounded me in MD. its ok though, my roomate and I never hesitate to tool the liberal army at every opportunity.

    Perhaps I should see if If the Mises institute will donate me a Mises t-shirt to sport to this pub crawl.

  5. A mixed economy is a mixture of freedom and controls—with no principles, rules, or theories to define either. Since the introduction of controls necessitates and leads to further controls, it is an unstable, explosive mixture which, ultimately, has to repeal the controls or collapse into dictatorship. A mixed economy has no principles to define its policies, its goals, its laws—no principles to limit the power of its government. The only principle of a mixed economy—which, necessarily, has to remain unnamed and unacknowledged—is that no one’s interests are safe, everyone’s interests are on a public auction block, and anything goes for anyone who can get away with it. Such a system—or, more precisely, anti-system—breaks up a country into an ever-growing number of enemy camps, into economic groups fighting one another for self preservation in an indeterminate mixture of defense and offense, as the nature of such a jungle demands. While, politically, a mixed economy preserves the semblance of an organized society with a semblance of law and order, economically it is the equivalent of the chaos that had ruled China for centuries: a chaos of robber gangs looting—and draining—the productive elements of the country.

    A mixed economy is rule by pressure groups. It is an amoral, institutionalized civil war of special interests and lobbies, all fighting to seize a momentary control of the legislative machinery, to extort some special privilege at one another’s expense by an act of government—i.e., by force. In the absence of individual rights, in the absence of any moral or legal principles, a mixed economy’s only hope to preserve its precarious semblance of order, to restrain the savage, desperately rapacious groups it itself has created, and to prevent the legalized plunder from running over into plain, unlegalized looting of all by all—is compromise; compromise on everything and in every realm—material, spiritual, intellectual—so that no group would step over the line by demanding too much and topple the whole rotted structure. If the game is to continue, nothing can be permitted to remain firm, solid, absolute, untouchable; everything (and everyone) has to be fluid, flexible, indeterminate, approximate. By what standard are anyone’s actions to be guided? By the expediency of any immediate moment.

    The only danger, to a mixed economy, is any not-to-be-compromised value, virtue, or idea. The only threat is any uncompromising person, group, or movement. The only enemy is integrity.

    ~Ayn Rand


  7. I would think if they really wanted to emphasize the failure of "rampant free market ideology", they would go to a bar that's owned and operated solely by the state and subsidized by taxpayers. They only serve one type of drink, but every round is one the house.

    Visiting several bars and having a variety of beverages to choose from at various consumer-driven market prices only serves to highlight the benefits of a freer market.