Saturday, August 24, 2013

Von Mises for liberals

Of all places this article explaining the Austrian School's economic prescription for any depression/recession appears on the loopy, loony Huffington Blog which typically would prescribe exactly the opposite.  Of course for anyone wondering why we are mired in a no-growth economy with 10.5% underemployment plus 7%plus labor department unemployment statistics has only to come to grips with what the Austrians have been saying forever about Keynesian solutions and the attendant government intervention in the economy to know that is what prolongs recessions and makes things worse not better.  And yet all administrations, Republican and Democrat, keep trying to buy us out of recession/depressions by spending money after printing it up, keep adding to the national debt, keep digging the hole deeper and deeper while cheapening the currency and ensuring that the next recession/depression will be worse than the last one.  The definition of insanity applies here.

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