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Politics : Are you wondering about Ron Paul?
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To: Northern Marlin who wrote (8)2/12/2011 9:55:51 AM
From: Northern Marlin   of 24
 
The archived web cast of Ron Paul's first subcommittee hearing can be found here:

financialservices.house.gov

I watched the entire hearing, and it was great to see Austrian economics discussed in a government building. However, I thought the questioning of the Keynesian Bivens was weak. When the subject was the cause of the current depression I would have asked Bivens to explain two problems that Rothbard said any business cycle theory had to answer:

1..."the peculiar breakdown of the entrepreneurial function at times of economic crisis and depression".

2. "An adequate theory of the business cycle, then, must also explain the far greater intensity of booms and busts in the non-consumer goods, or "producers' goods," industries."

The detailed article from which the above quotes are taken can be found here:

mises.org

Phil
@NorthernMarlin
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