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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (224985)	10/19/2007 7:35:22 PM
From: Joe Btfsplk	Read Replies (1) \| Respond to of 795158

I've long been an admirer of von Mises, Hayek, Sowell, et al. There's a commonality among the Austrians and the Chicago and the no-water school, despite their fierce arguments about the nature of money. Seems to me that the evidence from the past couple of centuries supports their contentions about the superiority of laizzes-faire, subject to wise and humble application of torts, enforcement of contracts....... Cranks like Reich and Thurow still get air time, experience to the contrary. Another facet comes in to play here. The top of the information hierarchy was long held by thinkers who held the Austrians and the Chicagoites in contempt. Most adults, if they took an econ course, read from a text by a guy whose last copyrighted text praising the Soviets was issued in the year the Evil Empire collapsed. Those that didn't take an Econ course osmotically absorbed that mis-information in a trickle down process. That is changing, but it'll take a generation or more to clear the air. Lot in play here, but I don't understand your comment about today's market action. Seems to me to be the discovery process at work.