“So-Called” Austrian Economics

Sunday, March 23, 2008
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This is what happens to people who sell out for slots in the New York Times: Tyler Cowen, in his latest column (bold is mine):

Starting in the 1920s, Ludwig von Mises, the leader of the so-called Austrian School of Economics, charged that socialism was unable to engage in rational economic calculation. Without market prices, he reasoned, no one knows how much economic resources are worth.

What does he think he had to gain by making that comment? And as usual, he refrains from drawing any resolute free-market conclusions in order to avoid losing his precious opportunity for popular acceptance. I’m sorry, but this stuff is cow pies. I’ll take an unyielding and unambiguous Tom DiLorenzo or Walter Block over this shoddy fluff anytime.

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