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Prentice Explains Austrian Economics in Colorado Springs

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02/17/2014

In response to E.J. Dionne's WaPo attack on Austrian economics, Associated Scholar Paul Prentice explains Austrian econ to the readers of the Colorado Springs Gazette:

...Out of these scarce means and unscarce ends, combined with subjective value and human action, emerges a price-driven market economy that creates the greatest good for the greatest number of people. For EJ Dionne to imagine that government control of this complex marketplace-ecosystem leads to better outcomes is pure hubris. His childlike faith in the collective over the individual, in public property over private property, and in government command-and-control over free markets, is counter to all economic logic and historical evidence.

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