Hayek revival

Steven Hayward is a significant addition to the Powerline blog; it is reason enough to read his contributions just for his knowledge and understanding of the Austrian economist Fredrich Hayek.   Hayek's writings debunk the Keyensian school's economics as wells as all forms of socialism, and his ideas have proved prescient.    In this post Hayward tells us why Hayek makes such good sense and in the process tells us why the Obamanomics has been a failure.  The Austrian School economists, including von Mises, Murray Rothbard and Hayek suggest that the founding fathers had it about right when they proposed a limited central government with checks and balances that would prevent too much power accumulating in the hands of any one branch.  It's hard to imagine what the Austrians and the founding fathers would think about the power grab by the central government that has been going on for many decades in this country and has been accelerating under Obama.