Wednesday, April 18, 2012

How Can Anyone Doubt Austrian Economics?

Great Gary North post:

"Why do so many entrepreneurs make the same mistakes at the same time? [T]here must have been misinformation conveyed to almost all market participants. But how? Because of central bank tampering with the money supply. Money is the common commodity. It conveys information to most participants. To find why people make the same mistakes at the same time, he said, look at monetary policy of the central bank and fractional reserve commercial banks."
Answer to the question in the title: because they are crooks. Keynesian sophistry helps justify a bloated government.

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