Why Obscure Freedom’s Fundamental Facts?
from The Daily Bell:
The ‘laws of economics’ don’t exist … In a world increasingly framed by economic debates, the phrase “the laws of economics” has become ever more prevalent … Referencing “the laws of economics” as a way to refute arguments or criticize ideas has the patina of clarity and certainty. The reality is that referencing such laws is simply another way to justify beliefs and inclinations. I may agree that the war on drugs is flawed, but not because it violates “laws of economics” but rather because it fails in most of its basic goals. The test of whether government spending or central bank easing is good policy should be whether they succeed in ameliorating the problems of stagnant growth and high unemployment, not on what the “laws of economics” erroneously say about certain future outcomes. – Reuters
Dominant Social Theme: Everything is relative.
Free-Market Analysis: It is Austrian economics that underlies much of what passes for the mainstream economic conversation. Austrian free-market economics was always the underlying target of the financial press, even before free-market economics went mainstream following the advent of the Internet.
2013-04-13 17:45:13
Source: http:///2013/04/why-obscure-freedoms-fundamental-facts/
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