PermanentSleep
11-23-2010, 05:30 PM
http://www.cnbc.com/id/40340227
It’s no accident that Austrian economics is newly popular. It provides the best explanation for the business cycle we just lived through.
I think that we may have entered a new era.
We may all be Austrians now.
Not since the New Deal has Austrian economics enjoyed the political popularity it does now. Austrian economists are awfully popular with the Republican Party, especially its Tea Party wing. Peter Schiff, the Austrian economics-inflected investment advisor, is a very popular guest on business television. Tom Woods' book “Meltdown”—which provided an Austrian economics explanation for the financial crisis—was a best seller. Congressman Ron Paul and Senator-elect Rand Paul are both devotees.
It’s no accident that Austrian economics is newly popular. It provides the best explanation for the business cycle we just lived through.
I think that we may have entered a new era.
We may all be Austrians now.
Not since the New Deal has Austrian economics enjoyed the political popularity it does now. Austrian economists are awfully popular with the Republican Party, especially its Tea Party wing. Peter Schiff, the Austrian economics-inflected investment advisor, is a very popular guest on business television. Tom Woods' book “Meltdown”—which provided an Austrian economics explanation for the financial crisis—was a best seller. Congressman Ron Paul and Senator-elect Rand Paul are both devotees.