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Source link: http://archive.mises.org/16032/new-republic-with-astonishing-new/

New Republic with Astonishing News

March 15, 2011 by

Americans Not Sold on Austrian Economics.


J Cortez March 15, 2011 at 8:43 am

This isn’t about Austrian Economics. This is about a poll where people favor democratic party policy plans vs republican party policy plans. It’s bloods vs crips on ideology. And the article says the crips favor “stimulus” and bloods favor “anti-stimulus.” I see no real difference in policy, the only difference is rhetoric.

Joshua March 15, 2011 at 9:06 am

The reasoning “Republicans = Budget Cuts = Austrian Economics” shows an ignorance of reality that is appalling. I’m led to the thought that whoever makes that formulation must either be lacking in intelligence or purposely skewing the truth to make a guilt by association smear.

Franklin March 16, 2011 at 4:49 pm

And yes.

Dick Fox March 15, 2011 at 10:29 am

The New Republic is an absolute joke. It is obvious that none of them have read Mises. I doubt most over there even know who he is.

Bruce Koerber March 15, 2011 at 11:28 am

Fearful of giving a link to what Austrian economics really is, the propaganda ploy of planting a negative association without ever giving any content is used. Who does such things? It is obvious that this media source is one of the many pawns of the unConstitutional coup.

Inquisitor March 15, 2011 at 12:42 pm

“The main point of the post is certainly true, but it’s not merely Austrian-school economics; it’s far older than that. The idea that the correct response to economic contraction is to reduce deficits was the policy of Herbert Hoover and his treasury secretary, Andrew W. Mellon, the fellow who said in 1930: “Liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate… it will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up the wrecks from less competent people.” We know how well that worked.”


I rarely use “lol” but it’s all I can say to such a stupid, ill informed comment.

Bogart March 15, 2011 at 1:50 pm

Actually, Hoover did not follow Mellon’s advice. If he had, he would not have been so bad. In fact the proof here is from Hoover’s own biography where he states that he hated the liquidations that would come from Mellon’s policy and he personally advised against as Commerce Secretary under the Harding administration. Hoover really put in motion what Roosevelt would later call the “New Deal”. And Roosevelt sold himself as being a smaller government-smaller spending type than Hoover.

R.P. McCosker March 15, 2011 at 4:53 pm

The word “Austrian” doesn’t even appear in this two-paragraph commentary from _The New Republic_ — except in the title (which was probably put in by someone other than the writer of the commentary’s text). The idea, so far as “Austrian” is concerned, seems to be that if one isn’t a hardcore Keynesian, one must be of the Austrian School of Economics.

Apparently mankind can be divided into two camps: Keynesians and Austrians. This is interesting, because I’ve never heard of an operational Austrian School economist holding a significant policy position in the U.S. federal government. Can anyone here name one?

J. Murray March 16, 2011 at 5:43 am

There is…uh…well there’s…hmm…maybe…no…

Nope, can’t think of one.

Bogart March 15, 2011 at 6:47 pm

TNR is just asking if the government should spend less or more. So why would anybody on the government dole directly or indirectly vote for less spending and these folks count for 40% of workers at least. Then there is the element of fantasy that all this debt doesn’t matter because the spenders love you while the misers hate you, besides at some magic time in the future the government or Fed will sprinkle the pixie dust and solve our problems vs actually making tough choices to do so.

Adam C March 15, 2011 at 11:55 pm

Memo to media … Anything republicans do with the budget /= Austrian economics.

Unfortunately this isn’t the first time and won’t be the last time they make this kind of mistake misinformation agitprop garbage.

J. Murray March 16, 2011 at 5:46 am

Ah, classic “subscribe if you want to comment” routine. Great way to eliminate dissent in the comments section.

Troy Camplin March 17, 2011 at 1:44 am

The title should have been: “The Average American Believes in Folk Economics”

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