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Ethical Affective Ambiance in the Electric Universe - Production of Money, Prices and Market

‘The most important aspects are the conception that praxeology extends beyond economics proper, that there are ethical means of action, and that in action, some things are striven for which in principle cannot be attained, so that striving for them impacts the happiness of the individual actor.’

- Adam Knott, Praxeology (Context)

‘Production is not something physical, material, and external; it is a spiritual and intellectual phenomenon.’

- Ludwig von Mises, “Human action is a manifestation of the mind.”

‘It is merely the routine of scientific procedure that can be taught and presented in textbooks. The power to accomplish feats of scientific achievement can be awakened only in one who already possesses the necessary intellectual gifts and strength of character.’

- Ludwig von Mises [1]

‘..the existence and importance of electric fields and currents in space.’

‘..[Hannes Alfvén] fought for years to make us aware of the existence and importance of electric fields and currents in space.

..

Hannes Alfvén possessed a gift that allowed him to extract results of great importance and generality from specific problems. It is a mark of his genius that his initial understanding came primarily from physical reasoning; the mathematical demonstrations came only after he had, in his mind’s eye, determined the physical process..’

- C.-G. Fälthammar and A. J. Dessler, Hannes Alfvén (1908 - 1995)

‘..an “electric galaxy” theory..’

‘..Hannes Alfvén came up with an “electric galaxy” theory as early as 1981..’

- Stephen Smith (Context)

‘..the realization that our Sun functions electrically..’

This has been the briefest of introductions to Juergens’ Electric Sun model - the realization that our Sun functions electrically - that it is a huge electrically charged, relatively quiescent, sphere of ionized gas that supports an electric plasma arc discharge on its surface and is powered by subtle currents that move throughout the now well known tenuous plasma that fills our galaxy..

..

There is now enough inescapable evidence that a majority of the phenomena we observe on the Sun are fundamentally electrical in nature. Ralph Juergens was the person with the vision to see it.’

- Donald E. Scott, (Electric Sun) - ‘Ralph Juergens was the person with the vision to see it.’

‘The experimental evidence for the electrical nature..’

‘The experimental evidence for the electrical nature of galaxies has been available for many decades now. But who has heard anything about it?’

- Wal Thornhill [2], (Electric Universe) ‘Gravity is an exhausted and bankrupt concept. A higher, more comprehensive foundation is needed.’

‘..hardly any familiarity, outside of what they were taught in grade school, of even the epistemological issues concerning the natural sciences, let alone the even more neglected epistemological issues concerning the social sciences.’

‘It has become a popular trick among people who are unprepared to grapple with the actual economic arguments of the Austrian School to try to short-circuit the debate by groaning, zombie-like, “unscientific!” with hardly any familiarity, outside of what they were taught in grade school, of even the epistemological issues concerning the natural sciences, let alone the even more neglected epistemological issues concerning the social sciences.’

- Daniel James Sanchez (Context)

‘..the subjective nature of social phenomena..’

‘..important objects of the social sciences, objects such as prices and markets..’

- Adam Knott, (Source - Praxeology)

‘Ethical problems of production .. The most important of these is the production of money..’

‘Ethical problems of production have been assessed in a great number of industries, ranging from agriculture to textile manufacturing in developing countries to pharmaceuticals. Today only a few important industries have escaped such scrutiny. The most important of these is the production of money. Money is omnipresent in modern life, yet the production of money does not seem to warrant any moral assessment.’ (2008, p. 1 [pdf])

- Jörg Guido Hülsmann, ‘Ethical problems of production .. the production of money.’

‘..the public has altered this law by their practice..’

‘..The trouble and confusion thus produced in trade and circulation forced the Treasury to request that the celebrated Sir Isaac Newton, director of the Tower Mint, make a report on the measures he thought most suitable to remedy this chaos.

Nothing could have been easier. It only required following the market price of silver in coining silver at the Tower .. Newton told me in answer to this objection that according to the fundamental laws of the Kingdom, silver was the true and only monetary standard, and that as such, it could not be altered.

It is easy to answer that the public has altered this law by their practice and the price of the market and therefore, it had ceased to be a law. Under these circumstances, there was no need to adhere scrupulously to it to the detriment of the nation..’

- Richard Cantillon, An Essay on Economic Theory, 1755 (2010), pages 214, 215

‘..human action, means and ends, subjective value, marginal analysis, methodological individualism, the time structure of production, and so on..’

‘..Austrian economics—human action, means and ends, subjective value, marginal analysis, methodological individualism, the time structure of production, and so on—along with the Austrian theory of value and price, which forms the heart of Austrian analysis, all flow from Menger’s pathbreaking work..’

- Peter G. Klein (Context)

‘..we do not know what motion, life, electricity are. Mind is simply the word to signify the unknown factor that has enabled men to achieve all that they have accomplished..’

‘..Human action is a manifestation of the mind. In this sense praxeology can be called a moral science (Geisteswissenschaft).

Of course, we do not know what mind is, just as we do not know what motion, life, electricity are. Mind is simply the word to signify the unknown factor that has enabled men to achieve all that they have accomplished: the theories and the poems, the cathedrals and the symphonies, the motorcars and the airplanes.’

– Ludwig von Mises, Human Action

Context

(Affectivity) ‘..deontology and ethics should have a preponderant place..’

(Praxeology) ‘Peaceful social coexistence .. a science of ethical actions..’

‘The dimension of feeling..’ - ‘The Myth of Efficiency’

‘..the enjoyment of life and liberty, with the means of acquiring and possessing property..’

(Open Source) ‘If your company is new to Linux or open source..’ (Context)

The Austrian School; Fear the Boom, not the Bust - Critique of Marxism

The University Has No Clothes

Notes

[1] Epistemological Problems of Economics

[2] Electric Galaxies, 20 May 2008