First they
ignore you, then they laugh at you, then they fight you, then you win. —Mahatma
Gandhi
Final victory
draws ever nearer for Austrian economics. Over the weekend, the New York
Times, with its intellectual cachet rapidly waning and its finances in
parlous straits, ran a tedious and rambling hit piece on Rand Paul. The article
went out of its way to target the Mises Institute, the longtime home of
mainline Austrian economics. Lew Rockwell’s response
graciously accepted the honor associated with being recognized as a leading
intellectual threat to establishment economics and the American welfare-warfare
state by the regime’s leading media mouthpiece. Hard on the heels of the first Times
article comes another attack on Austrian economics. This one appears in an op-edby
house Keynesian Paul Krugman whose one-note diatribes have long ceased to
outrage or amuse. Even Krugman’s title, “Soup Kitchens Caused the Great
Depression,” has been recycled.
And it is not rendered any less tired by the addition of “the AFF Edition,” an
idiosyncratic acronym which, as Krugman is forced to explain in the first
sentence of the text, means “Austrian Founding Fathers.”.....To Read More.....
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