Is it Time for a Resurgence of the Austrian School of Economics?
Question: Hello Paul! Do you ever plan to present the ideas of economists that adhere to the Austrian School of Economics (Students of Von Hayek or Von Mises)? Their understanding of the nature and causes of the business cyle enabled them to foresee much of what has happened in the last few years. (Peter Schiff and Marc Faber are successful examples.) Thanks for your friendly commentary!
Paul Solman: Yes, the resurgence of the Austrian School is worth a look, and was suggested to me by none other than Robert MacNeil a few weeks ago after Rand Paul’s victory in Kentucky. Look for our take, playing at a PBS station near you, eventually, if not soon.
Meanwhile, Russ Roberts did a pretty good job of making the Mises/Hayek case in a debate we staged in December, a story that marked the debut of the Keynes-Hayek video rap that has since become a viral phenomenon on the Web (1.2 million views at the moment).