David Frum Hearts the Fed, Hates Mises
Via Reboil Room
Recently David Frum threw a hit piece up on the Daily Beast,
questioning how conservatives could possibly be stupid enough to
gravitate toward this "so-called Austrian" Ludwig von Mises. Between
Frum & a no-name from Bloomberg, they attempt to make the case that
Austrians aren't smart enough to comment on economics since they are
more philosophical and not empirical.
As a matter of fact, the no-name said Austrian Economics is "philosophy dressed up as economics". So clever.
This wouldn't be nearly as comical if it weren't for the fact that Frum is a distant cousin of none other than Paul Krugman. Oh, and he graduated from Yale & Harvard of course.
Austrian (gasp) Thomas Woods has posted a nice response to this that we wanted to share with you.