Monday, November 17, 2008

Paul Krugman Schools George Will On The Great Depression

Austrian school economics, brought to you by the same kooks that deify Ayn Rand, and actually think there is a way for markets to expand infinitely. For those unfamiliar with this discredited school of economics, they actually do consider Greenspan and Friedman as being left, since anything that hints of regulating the monstrosities of capital is considered left of Austrian School. Free markets always have and always will fail miserably, the contradictions inherent in the profit system insure this, and history has proven it time and time again.

A little hint for acudoc, you've misidentified the so called producers in your pro ruling class diatribe, and it sure isn't the greedy captains of industry you worship. There are producers in society, and they do create all the wealth. They are called the workers.
Read the Article at HuffingtonPost


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