Austrians are not Austerians

Robert Wenzel makes this important point.

[Krugman] writes:

Has there been anything comparable on the Austrian/Austerian side?

Why would any economist who knows anything about Austrian economics and bankster austerity programs link the two? Austrian economists have never supported any plan to suck dry the masses via taxation to payoff banksters holding government debt, which is what austerity programs are all about. As the leading Austrian economist, Murray Rothbard, put it:

I propose, then, a seemingly drastic but actually far less destructive way of paying off the public debt at a single blow: outright debt repudiation.

This is the exact opposite of austerity programs, which are designed to prop up sovereign debt and insure the banksters are paid.

Comments

  1. I’m shocked; a critic of the Austrian school that has no understanding of the basics of our positions.

    Roddis’s Law strikes again. Then again, when it comes to Herr Krugman, it’s not really that great of a stress test.

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