Scott Baker over at OpEdNews recently posted an article under this title: “Ludwig von Mises and the Austrian School are morons, China is full of Geniuses.”
According to Baker, China’s managed economy is the future,
“China is miles ahead of the U.S. in economic management. It is an economy run by serious economists who learn from their mistakes … “
There are those nagging human rights issues,
“but it is neither as bad there, nor as good here, as the Right and Tea Partiers would like us to believe. Besides, that’s got little to do with macro-economic management.”
A few eggs cracked, big deal. If only we — the Austrians — would embrace central planning. If only we were that bright.
“The free marketers won’t even admit that a managed economy is doable, hence their refusal to see a working model in action. They would rather have periodic booms and busts, than admit their economic model is fundamentally flawed, and fatally too.”