Don’t Invest on Blind Faith
A viewer on my YouTube video last week asked me whether I was an Austrian or Keynesian economist.
Perhaps he shouldn’t have done that … because that’s a subject on which I have strong views.
In this week’s video, I walk you through those two schools of thought … and explain why what seems like a dry academic debate is vitally important to investors.
After all, wouldn’t you want to know if the people giving policymakers advice were doing so based on misplaced faith in an unproven economic model?
Well, there are plenty of them out there doing just that…
How to Spot Bad Economic Advice
When people express opinions about economic policy, they’re reflecting assumptions they usually don’t explain. If those assumptions are wrong, it’s likely their advice will be too. The Austrian and Keynesian schools of economics start from very different assumptions. How do they stack up?
Watch today’s video to get a better grasp on this. You’ll discover:
- The underlying assumptions behind the two schools of thought, and why they are important for investors to understand.
- Why prioritizing pure logic over real-world evidence leads to bad policy.
- How some ways of thinking about economics — and policy — are like Marxism.
- And more.
Click here to watch this week’s video or click on the image below:
An economist by training, I grew up in the U.S. but emigrated to South Africa in the mid-1980s where I became deeply involved in the development and implementation of post-apartheid economic and urbanization policy. During the 90s and 2000s, I was a consultant to a variety of entities, including African and European governments and the United Nations.