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Old September 5th, 2011, 01:03 AM   #11 (permalink)
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Originally Posted by mike114 View Post
The U.S. is falling apart due to Keynesians like Krugman. He is the problem, not the solution. It's great to see the austrian economic models start to finally gain some traction thanks to people like Tom Woods and Peter Schiff. I'll take the teachings of Ludwig von Mises, Murray N. Rothbard or Friedrich von Hayek over Paul Krugman everyday.

For anyone interested, this is a great site that explains austrian economics:

What is Austrian Economics - - Mises Institute

Which is

The Ludwig von Mises Institute is an American libertarian think tank specializing in Austrian school economics and libertarian social philosophy. It was established in 1982 with the approval of Margit von Mises, the widow of the Austrian school economist Ludwig von Mises. It publishes several journals on political economy, economics, and philosophy, and has also published several books. The Institute offers fellowships to students of economics. It also gives awards to those who have made (in their opinion) exceptional contributions in the field of economics.
The Institute is against statism, socialism, communism, left-liberalism, and pretty much anything else that deviates from libertarianism, which is hardly surprising, since their founders were libertarians. It publishes articles from a libertarian viewpoint, and supports the Austrian School. The Institute leans toward anarcho-capitalism and tends to view more soft-line libertarian think tanks like the Cato Institute with some disdain as compromising Beltway insiders.
It has been accused of racism due to the head of the Institute writing some rather interesting things about black people (see the external links) In addition, it has a rather interesting interpretation of the American Civil War, viewing President Abraham Lincoln as the statist villain who sought to drastically expand the power of central government at the expense of state's rights rather than keep the Union intact, or (later) free the slaves. On that last, they feel that compensation for slave owners (as some had proposed back then) would have been better, preserving states' rights and averting war, though Murray Rothbard has quipped that it was more the slaves who deserved compensation than their owners, at least. Some also point to various banking conspiracy theories as causes of the conflict. Ironically Lincoln himself feared the rising power of banks and industrial capitalism (as Thomas Jefferson did) while conspiracy theories of his own assassination often name international bankers as susp

Ludwig von Mises Institute - RationalWiki
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