20 years ago – no, 10 – you couldn’t eavesdrop upon learned discussions like this one, between Austrians, Keynesians (and no doubt monetarists, somewhere). You would have to have invaded some university common room. Which I intend never to do.
Check out the responses to ‘Ben’s‘ point about grandchildren paying for our mistakes, and also Greg and Pretzel Dude* arguing about the origin of the massive financial bubbles. Not every Keynesian will be as uncompromising as Billy Blog, defending Australian policy – but I think he makes a convincing case that making GDP higher now enables tax revenue in the future to pay off debts incurred today.
Finally, I love this sort of bitchiness:
nate said in reply to Peter K.…Yes, and your position is so much more “liberal” and “progressive”. Who needs moral standards. Steal.
OhNoNotAgain said in reply to nate..
Hey Nate, if you’re trying to come off sounding like a crazy 75-year old guy that yells at the neighborhood kids all the time – well, it’s working.
* To me, it seems cruel for the Dude’s to have call their third child Pretzel, though his elder siblings Bagel and Doughnut no doubt find it fair. Pretzel is an Austrian.
Posted by Alex on February 9, 2010 at 4:09 am
I saw those comments as well. However, I would like to see someone properly take on the Austrian obsession with “INFLATION!!!111″ and anti-fractional reserve banking.