The Slow Vindication of the Austrians

[Oddball]

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

 

[william the wie]

Very slow vindication.

 

[Supposn]

Does Benjamin J. Thompson assert larger enterprises are at advantage to lesser enterprises when interest rates are low?

Does he also assert larger enterprises are at advantage to lesser enterprises when interest rates are higher? If not, why not?

He asserts borrowers predicated their borrowing upon the economic predictions of the Federal Reserve that are less than accurate?

I foolishly accepted the concept of independent participants within competitive markets, acting upon their own or their trusted advisers' judgments. If they aren't the best judges of their own competitive positions within their own industries, who else can do better? Why blame the U.S. Federal Reserve?

Are the socialist correct. Capitalism is a rigged game and the government should plan and direct everything? I believe that we've thus far been very fortunate. The Federal Reserve board members have been sufficiently able to not bring our nation's economy crashing down completely. I doubt if they actually do or can regulate the value of our U.S. dollar.

Keynesian's' assert during poorer economic years, our government should continue and additionally increase investing national wealth for the benefit of our nation. Benjamin J. Thompson doesn't provide any logical validation or refutation of Keynes's concepts.

Respectfully, Supposn