Prentice Explains Austrian Economics in Colorado Springs

In response to E.J. Dionne’s WaPo attack on Austrian economics, Associated Scholar Paul Prentice explains Austrian econ to the readers of the Colorado Springs Gazette:

…Out of these scarce means and unscarce ends, combined with subjective value and human action, emerges a price-driven market economy that creates the greatest good for the greatest number of people.

For EJ Dionne to imagine that government control of this complex marketplace-ecosystem leads to better outcomes is pure hubris. His childlike faith in the collective over the individual, in public property over private property, and in government command-and-control over free markets, is counter to all economic logic and historical evidence.

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