Today the Mises Institute faculty provide excellent responses to Paul Krugman and his query re Austrian economics, MMMF, and financial intermediation.

But even legitimate intermediation can be a source for bad policy. Re MMMF and the past crisis see some interesting commentary by Garett Jones at

http://econlog.econlib.org/archives/2012/10/bailouts_are_fo.html

That’s the title of my talk tomorrow evening at the CEVRO Institut in Prague (5pm, Tuesday 9 October). You can probably anticipate the answer, but you have to come for the full explanation!

If Mises stopped short of affirming the full right of individual secession, it was only because of what he regarded as technical grounds.

“The peoples of the vast Southeast Asian region of Zomia were successful in providing incentives against statecraft--that is, they successfully prevented their own appropriation by external states and successfully prevented local state formation--for most of their long history.

[Great Wars and Great Leaders: A Libertarian Rebuttal (2010)]

Historian Hunt Tooley will be teaching World War One: A Revisionist Perspective, a Mises Academy online course, starting October 29.

[This article is excerpted from volume 2, chapter 11 of An Austrian Perspective on the History of Economic Thought (1995).

U. S. Monetary Policy, during and since the economic slowdown and financial crisis, has been criticized by non-Austrian economists such as John B. Taylor as a mondustrial policy and as a movement from central banking to central planning by John H. Cochrane. Austrians have long viewed central banking and monetary policy as financial central planning.