Review of Austrian Economics Vol. 9, No.1 (1996)

Review of Austrian Economics Volume 1, No. 13

By Ron Paul

Last week, Federal Reserve Chairman Janet Yellen testified before Congress for the first time since replacing Ben Bernanke at the beginning of the month. Her testimony confirmed what many of us suspected, that interventionist Keynesian policies at the Federal Reserve are well-entrenched and far from over. Mrs. Yellen practically bent over backwards to reassure Wall Street that the Fed would continue its accommodative monetary policy well into any new economic recovery. The same monetary policy that got us into this mess will remain in place until the next crisis hits.

For fans of the science fiction and fantasy genres, Stephen R. Donaldson probably needs no introduction. For those not so familiar, Donaldson has penned numerous novels and short stories, many to critical acclaim, and is the author of the recently-concluded Chronicles of Thomas Covenant, widely regarded as one of the best fantasy series of the last forty years.

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:

How many economists does it take to change a light bulb? None. When the one they used in graduate school goes out, they sit in the dark.

Robert Samuelson writes here about how mainstream economists have done such a poor job of forecasting the economic crisis and that they have been consistently overestimating economic growth.