Tuesday, May 05, 2009

Let's continue to listen to the dumb economists

Today there is an excellent article over at the Mises Institute critiquing a recent Business Week article. The basic rationale is this: these so-called "economists" failed to predict the mess we're in (and, by extension, were probably the same band of thieves who encouraged the politicians in charge to ignite this mess), so why should we listen to them on how to get out of it?

We shouldn't. I'm a tacit member of the Libertarian Party (I'm more lower-case "L" than upper-case), and recently I have started calling it "The I-told-you-so Party." That's because the Austrian economists did predict this mess, and they know how to liberate us and get us out. Will the beltway listen? No. Why? Because the answer empowers the poor, introduces fiscal responsibility and accountability, and disempowers the beltway.

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