Spreading Hayek, Spurning Keynes

Discussion in 'Economy' started by Kevin_Kennedy, Aug 30, 2010.

  1. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    Spreading Hayek, Spurning Keynes - WSJ.com

    This is a pretty decent article relating to Austrian economics, but it makes some pretty ridiculous claims.

    "But the 50-year-old professor of economics at George Mason University in Virginia is emerging as the intellectual standard-bearer for the Austrian school of economics..."

    This is not the case whatsoever. If anybody is the "intellectual standard-bearer" for the Austrian school in the year 2010 it's Congressman Ron Paul.

    "But as much as the Austrian diagnosis may resonate now, it doesn't provide a playbook for what to do next, which could limit its current resurgence.

    Mr. Hayek rightly warned of the dangers of central planning, Mr. Boettke says, but "he didn't give a prescription for how to move from 'serfdom' back.""

    And this is complete nonsense. The Austrian's do have a "playbook" for what to do next, and it's called letting the market restructure itself and then allowing it to function without interference from government.
     
  2. Oddball
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    Oddball BANNED Supporting Member

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    Hubba-hubba and huzzah!! :thup:
     
  3. Foxfyre
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    Foxfyre Eternal optimist Gold Supporting Member Supporting Member

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    On my way to bed but stopped by to subscribe to the thread. A subject of considerable interest to me. Hope it generates some discussion.
     
  4. Baruch Menachem
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    Baruch Menachem '

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    a very good book. It proves a german can write lucid prose. It is very short, succinct, a fun read and a real eye opener.

    Keynes lived in England, and expected all public officials to behave with victorian probity. Hayek lived in Habsburg Austria, and had none of Keynes' illusions about the honesty of the average public job holder.
     

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