me: > The "Austrians" assume that the economy oscillates around full employment, > totally ignoring Keynes' lessons.
David B. Shemano wrote: > Do the "Austrians" (why the scare quotes?) "ignore" Keynes or do they > "disagree" with Keynes. It is hard for me to imagine any group that worked > harder to understand and critique Keynes than the Austrians.< they're not scare quotes. I just don't think they should identify their country of origin with their school. It's not like they have had a monopoly of intellectual power over Austria the way the followers of Milton Friedman have at the University of Chicago. For example, Joseph Schumpeter was from Austria but did not belong to the Hayek/Mises/et al crowd. The A school may have studied Keynes but they have not abandoned Say's Law. That colors all of their thinking. -- Jim Devine / "Nobody told me there'd be days like these / Strange days indeed -- most peculiar, mama." -- JL. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
