My own personal Free Speech Zone. “To change your mind and to follow him who sets you right is to be nonetheless the free agent that you were before.” — Marcus Aurelius “When the facts change, I change my mind. What do you do, sir?” — John Maynard Keynes “Why should you mind being wrong if someone can show you that you are?” — A.J. Ayer (attributed)
Thursday, April 5, 2012
Austrian Economics: Rarely Correct, Always Hysterical
In lieu of the hysterical, paranoid, evidence-free rants I have subjected myself to in an effort to understand "hard money" believers and their hard-on for returning to the Gold Standard, here is a response to the hysteria. Reading the Austrian/Gold-bug material is like reading the early American sermons of people like Jonathan Edwards (no, not this dick). Fevered religious nonsense, based on magical thinking and a deep misunderstanding of how the world actually works.
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