“A depression is for capitalism like a good, cold douche.”

Most of the comments on the FM site by folks discussing Austrian economics showlittle understanding of Austrian economics.  Here is an anecdote by a famous economist who met one of the great founders of Austrian theory.  A telling anecdote, revealing much about the difference between the Keynesian and Austrian schools of economics — and why Keynesians …

“A depression is for capitalism like a good, cold douche.” Read More »