WSJ on the Austrian School and the Resulting Controversy


Spreading Hayek, Spurning Keynes

…[T]he 50-year-old professor of economics at George Mason University in Virginia is emerging as the intellectual standard-bearer for the Austrian school of economics that opposes government intervention in markets and decries federal spending to prop up demand during times of crisis…

Robert Wenzel on the WSJ article on the Austrian Revival

It would probably be best to describe Pete [Boettke] as the standard-bearer of the Uptight Wing of the Austrian School of Economics. The Uptights tend to promote the work of Noble Prize winning economist Friedrich Hayek, over the work of the Austrian economists Ludwig von Mises and Murray Rothbard.

Disscussing Hayek but ignoring Mises is something akin to discussing Scottie Pippen when talking about the championship years of the Chicago Bulls and not mentioning Michael Jordan. Nothing wrong with Pippen, but Jordan was “The Man.”

In economics, there’s nothing wrong with promoting the work of Hayek, in general he was a great economist. But “The Man” is Ludwig von Mises. The Uptights tend to push Mises down the memory hole because according to them he was “too stubborn.” Translation: He was a man of principle in the face of severe establishment pressure to bend.

Notice there is no mention of Mises in the profile on Boettke.

[Wenzel update on Boettke.]

Tom DiLorenzo on Lying about and the Mises Institute

…There is a group of economists there who are ashamed of the name “Austrian economics” who nevertheless claim to be, well, sort of, kind of, anyhow, Austrian economists, but they keep desperately trying to come up with a new name for themselves. Their latest ridiculous name is “coordination problem economists.” Sounds like a marketing nightmare, but hey, they’re academics…

The Daily Bell: The WSJ Discovers the Austrians & Boettke but not the Mises Institute

…The Journal’s corporate heart is not collectively in its work. While those who work there have commenced writing about the Austrian school, the institution as a whole is not yet up to speed. This is the only explanation that occurs to us (other than outright antipathy) given that the Journal can present an article about the modern history of the Austrian school (and Boettke) without a single mention of the global on-line Ludwig von Mises Institute or even Lew Rockwell who founded it along with his mentor Murray Rothbard. This is a little bit like writing a history of America without mentioning founding fathers. It is not just a reportorial lapse; it is a lacunae the size of a continent. We have interviewed prominent Mises’ fellows at the Daily Bell and even a cursory review of the Internet would yield a plethora of information about the Institute…

Lew Rockwell on Austrians Again

…One side, which has made its peace with the Fed and the rest of DC, has Koch oil billions and subscription-only newspapers on its side. The other has the free Internet and the man whose very name can still make Charles Koch go apoplectic, as happened not too long ago in Aspen. For more than 50 years, it’s been Power vs. Murray. I know where I’m putting my money…


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