Oddball
Unobtanium Member
Keynesian economics is cancer...
A Keynesian Catches On
But every once in a while, I notice a truth, revealed long ago through reason by the Austrians, peeking through when a modern Keynesian happens to write about real-world effects that seemed to him counter-intuitive. Several times in the past year or two, I’ve seen Austrian conclusions pop through the cracks of post-2008 Keynesianism, but they are justified on different grounds and expressed in different language.
The truth is making itself known, for truth can never be suppressed forever, but the mainstream of economics is still having a hard time shedding their faux empiricism and obsession with complicated-but-meaningless mathematical models. So when they notice it, they have to notice it in terms of economic history throwing them a curveball that warrants more study.
The Slow Vindication of the Austrians | Benjamin J. Thompson
A Keynesian Catches On
But every once in a while, I notice a truth, revealed long ago through reason by the Austrians, peeking through when a modern Keynesian happens to write about real-world effects that seemed to him counter-intuitive. Several times in the past year or two, I’ve seen Austrian conclusions pop through the cracks of post-2008 Keynesianism, but they are justified on different grounds and expressed in different language.
The truth is making itself known, for truth can never be suppressed forever, but the mainstream of economics is still having a hard time shedding their faux empiricism and obsession with complicated-but-meaningless mathematical models. So when they notice it, they have to notice it in terms of economic history throwing them a curveball that warrants more study.
The Slow Vindication of the Austrians | Benjamin J. Thompson