A Beginner’s Guide to Austrian Economics
From the article:
The “Austrian School” of economics grew out of the work of the late 19th and 20th century Vienna economists Carl Menger, Eugen von Bohm-Bawerk, Ludwig von Mises, and Friedrich Hayek (though of course Austrian School economists need not hail from Austria). Austrians focus strongly on the analysis of individual human action. This is known as praxeology, the study of the logical implications of the fact that individuals act with purpose, from which all economic theory can be deduced. Austrians also note the correlation between greater economic freedom and greater political and moral freedom. This in part explains why Austrian economics is the intellectual foundation for libertarianism. Austrians rightly attribute the repeated implosions of mainstream Keynesian economics to the latter’s focus on empirical observations, mathematical models, and statistical analysis.
The “Austrian School” of economics grew out of the work of the late 19th and 20th century Vienna economists Carl Menger, Eugen von Bohm-Bawerk, Ludwig von Mises, and Friedrich Hayek (though of course Austrian School economists need not hail from Austria). Austrians focus strongly on the analysis of individual human action. This is known as praxeology, the study of the logical implications of the fact that individuals act with purpose, from which all economic theory can be deduced. Austrians also note the correlation between greater economic freedom and greater political and moral freedom. This in part explains why Austrian economics is the intellectual foundation for libertarianism. Austrians rightly attribute the repeated implosions of mainstream Keynesian economics to the latter’s focus on empirical observations, mathematical models, and statistical analysis.
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When communication and copy ability rose to a point where investment couldn't be recouped without some sorts of protection, IP laws were needed. Similar to when unions were needed in the nineteenth and twentieth centuries to protect workers from the overwhelming power of the business.
Today, communication and the ability to copy are so ubiquitous that IP protection is moot. The legal system is inadequate to truly protecting IP, and so convoluted that by the time the legal process has worked its process, the IP is out of date. No, today the best answer is to continue to innovate, not to seek to block others from leveraging the technology. Again, similar to unions - no longer needed for their original purpose (but linger on due to their power, but even that is being diminished slowly but surely).
What would you call a slide rule? It's not digital and it is operated by a human. Programming is merely a set method of converting an input to an output. The same is true of an abacus and a slide rule. It's only that the conversion is done by the human interacting with the logic.
Having worked a slipstick way back in the day, I can attest that it was doing the logic, not me. I merely followed the rules of moving the slider.
You brought up some really good points about fingers and sticks. My question to you is, at what point between the abacus and the modern computer did these devices actually became known as computers? They were all built from improvements off each other. I'm still trying to figure this question out for myself as well and honestly I don't have a solid explanation for it either way. Depending on how you search for it online, you can get info for and against an abacus being considered a computer.
I'm sorry this has gone into such a long drawn out conversation. And unfortunately (fortunately) I have never used a slide ruler before, I missed out on that as well!
"A computer is a device that was used to aid in calculations."
If that is the case, our toes are computers, are they not? So are lines of sticks. Thus I can't accept such a simplistic definition and I don't know of anyone involved in Computer Science that would either. It's your choice, of course. I would simply caution that you will likely receive a similar response from anyone in the field given such an assertion.
But the abacus is still a computer. A computer is a device that was used to aid in calculations. I think the only part we differ in opinion is to whether a computer has to be able to automatically calculate given a certain set of inputs. For a computer, I would answer no. For a modern computer, I would answer yes.
I take it you must be an engineer or something closely related to it. Anyways again thanks for the post and I look forward to many more conversations like this. Also thank you! I learned a lot from reading your posts and doing some of my own digging around.
I agree with the abacus
And I still reject the notion of an abacus as a computer. It does not perform the calculations - the human does. You can't give the abacus an instruction and tell it "go" and receive a result. The slide rule is the same, and I don't think anyone is going to dispute the notion that the slide rule is far more complex than an abacus. I would also note that neither the abacus nor slide rule is programmable - the key capability of a true computer. The real productivity of a computer comes in its flexibility to be reconfigured to handle different types of problems. An abacus fails this as well, but was the point of Babbage's original engine. Lastly, what we shouldn't overlook is that critical to the functioning of the engine was the development of binary logic - the true work of genius of Charles Babbage and Ada Lovelace.
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