Austrian economics
- Thread starter Timshel
- Start date
They are clearly showing that they are open to Austrian economics, but they are not embracing or promoting it specifically. Spend some time at LewRockwell.com (Lew is founder and chairman of the Mises Institute which is specifically Austrian and devoted to promoting those ideas) and you will see them bitterly denouncing Cato and Reason.
You don't have a clue.
cawacko
Well-known member
What are you showing us here?
cawacko
Well-known member
Ok, and what would you like our takeaway to be? Are you arguing they are the same? that they are different?
evince
Truthmatters
http://en.wikipedia.org/wiki/Milton_Friedman#Honors.2C_recognition.2C_and_influence
uncle Milty in the end
Austrian School criticism[edit]
In 1971, Austrian School libertarian economist Murray Rothbard criticized Friedman's efforts to make the government more efficient as detrimental to individual liberty, concluding "...as we examine Milton Friedman’s credentials to be the leader of free-market economics, we arrive at the chilling conclusion that it is difficult to consider him a free-market economist at all."[84] Friedman's position on governmental control of money changed since 1971 when this criticism was made.[85] In a 1995 interview in Reason magazine he said the "difference between me and people like Murray Rothbard is that, though I want to know what my ideal is, I think I also have to be willing to discuss changes that are less than ideal so long as they point me in that direction." He said he actually would "like to abolish the Fed," and points out that when he has written about the Fed it is simply his recommendations of how it should be run given that it exists.[9]
uncle Milty in the end
Austrian School criticism[edit]
In 1971, Austrian School libertarian economist Murray Rothbard criticized Friedman's efforts to make the government more efficient as detrimental to individual liberty, concluding "...as we examine Milton Friedman’s credentials to be the leader of free-market economics, we arrive at the chilling conclusion that it is difficult to consider him a free-market economist at all."[84] Friedman's position on governmental control of money changed since 1971 when this criticism was made.[85] In a 1995 interview in Reason magazine he said the "difference between me and people like Murray Rothbard is that, though I want to know what my ideal is, I think I also have to be willing to discuss changes that are less than ideal so long as they point me in that direction." He said he actually would "like to abolish the Fed," and points out that when he has written about the Fed it is simply his recommendations of how it should be run given that it exists.[9]
As far as he ever was, which was pretty far. Friedman was much more diplomatic in his disagreements but still clear and firm. Rothbard was quite vitriolic about it and those same attitudes seem to have held in the different schools.
You clearly don't even know what Austrian economics is or is not. You did not understand Caplan's criticism. I have been pointing out real criticisms of Austrians economics to try to help you form a coherent argument. But you are not even really capable of parroting the ideas of others on the subject and certainly don't understand them.
cawacko
Well-known member
What am I missing here. You post an article showing an Austrian economist criticizing Friedman and this is suppose to show Friedman had moved more towards Austrian beliefs?
That still does not mean he agreed with Rothbard. Friedman argued that we could rid of the Fed and let a computer increase the supply of money at a steady rate of inflation.
No, he did not. He never argued that there needed to be a Federal Reserve and he never came to agree with Rothbard. You don't know what you are talking about desh.
evince
Truthmatters
evince
Truthmatters
Does what make them correct? The Austrian school, generally, supports a gold standard and removing government from the creation/control of money. Having a government computer inflate the money supply is not what they support. There are many other differences between them and Friedman and them than just that, though. You don't know what you are talking about.