Friday, September 3, 2010

On Boettke and the WSJ's piece on the Austrian School

There's really no need to go at lengthy elaboration about the WSJ article
that ran last week proclaiming George Mason University professor Peter Boettke as "the intellectual standard-bearer for the Austrian school of economics"; that statement is simply false. Boettke and George Mason University puts forth a watered-down moderate Hayekian style of Austrian economics, which Boettke and his compadres favor so as to get published in more mainstream journals and to "engage the mainstream" more. Though Boettke claims to be a fan and advocate of the economic works of Murray Rothbard (the greatest Austrian economist who ever lived), he stated in a Coordination Problem blog post> that bringing up Rothbard in the academic sphere brings up the question of "time and place. This is simply bureaucrat-speak for saying that he is intentionally watering down the approach to reach the mainstream more.

But to what end? Policy changes? With the exception of ending the Federal Reserve System, something that only the Ludwig Von Mises Intitute puts any real effort into, there aren't any real policy changes in regards to limiting government interventionism that even require an Austrian bent. Lower taxes? Why not just push Milton Friedman at that point?

I do not dislike Peter Boettke, even though I am not a fan of this watered-down approach, which will ultimately result in a bastardization of Austrian economics and people more frequently associating it was opposing budget deficits as opposed to opposing the STATE.

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