An Austrian revival?

myp · Aug 28, 2010

I was surprised to see this piece on WSJ this morning, but it really shows how far the Austrian school has come in recent years in terms of growth and acceptability and how it continues to further itself in those regards. As someone who does respect the school and thinks it would do us all good to listen to those viewpoints more and to some other schools a bit less, it is a nice change.

source: http://online.wsj.com/article_email...55911922562120-lMyQjAxMTAwMDIwNzEyNDcyWj.html

Any thoughts?

Ignoramus · Aug 28, 2010

myp said:
I was surprised to see this piece on WSJ this morning, but it really shows how far the Austrian school has come in recent years in terms of growth and acceptability and how it continues to further itself in those regards. As someone who does respect the school and thinks it would do us all good to listen to those viewpoints more and to some other schools a bit less, it is a nice change.

myp said:
source: http://online.wsj.com/article_email/SB10001424052748703418004575455911922562120-lMyQjAxMTAwMDIwNzEyNDcyWj.html
Any thoughts?

Resurgence? Let?s see, correct me if I?m wrong, but the Austrian School opposes deficit spending, fiat money, and the Federal Reserve among other things.
Can?t argue with that, but the only politician of note who supports this is Ron Paul, and he has about as much clout as an abortionist at a Papal Conference even within his own party. Even his own son seems to be distancing himself from his father.
It?s odd, but the people who the fiscal conservatives elect end up spending money like a drunken sailor, borrowed money at that.
Take Milton Friedman. He advised and praised Ronald Reagan, the small government fiscal conservative who nearly tripled the national debt and pushed governmental bloat to a frightening degree.
Granted Friedman was from the Chicago school, not the Austrian. Still, where are the politicians, other than Paul, who practice what the Austrian School preaches? Yet I found advocates of the Austrian school supporting Bush the Lesser. Granted, they were confused advocates of the Austrian school, but where was the rage that is directed at Obama when Bush the Lesser was setting up the house of cards?
It seems to me that the Austrian School and the Libertarians who advocate it serve mainly to advance class warfare. This may not be their intent, but it is the way that the more short sighted of the oligarchy uses them.
Granted you are talking about academics, but as far as I can see, the majority of economic academics defaulted to the Suidae decades ago.

An Austrian revival?

myp

Ignoramus

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