Andy Bradford <[EMAIL PROTECTED]> writes:
> Thus said Von Grant Fugal on Fri, 05 Dec 2008 09:18:21 MST:
>
>> You mention astrian economics. I haven't delved to deep into it
>> myself, but from most of my conversations with other subscribers to
>> austrian economics, I was under the distinct impression my views were
>> highly aligned with austrian economics; maybe I was wrong?
>
> No, I don't believe you were not wrong[1]:
>
>>From the premier website regarding Austrian Economics:
>
> http://mises.org/efandi/ch18.asp ``Inflation and You''
>
> http://mises.org/story/2914 ``What You Should Know About Inflation''
>
> The school of Austrian Economics certainly does not promote inflation. I
> don't know of any Austrian Economists that advocate it, and I can cite
> plenty who call for the abolition of the Federal Reserve and central
> reserve banking in general; including Ron Paul who has long been a
> student of Austrian Economics.
Austrian economics is closely associated with Libertarianism these days,
but so is Chicago school economics; the differences between the two
seems to have been manifested in this discussion. Milton Friedman, one
of the leaders of the Chicago school, is the one who proposed managing
inflation by calculating the money supply via algorithm, and is a strong
advocate of an ever-increasing money supply.
The BYU economics department, by the way, is heavily influenced by the
Chicago school of economic thought. There are also quite a few real
economists out there who believe in it, while those of the Austrian
school are a bit harder to find outside of the Ron Paul bubble.
As you can probably guess, I don't subscribe to either school of
thought.
--Levi
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