Lowell E. Gallaway (1930-2019) was Distinguished Professor of Economics and Faculty Associate in the Contemporary History Institute at Ohio University.
It appears that the obvious intent of the recent paper by Professor Barnett and Professor Block (2006), “Gallaway and Vedder on Stabilization Policy,” is to reveal to the Austrian community
Our analysis shows that Mises’s critique of “confiscatory interventionism” is the appropriate paradigm for interpreting events in the American economy during the last third of the twentieth century.
It is suggested in Daniel Kuehn’s article in this issue (2011) that MacKenzie (2010) is wrong about Hoover’s effectiveness in pushing a high wage policy that caused high unemployment.
The conventional wisdom proposition suggested by Galbraith that there is endemic instability in a market-based economy that can be remedied only by government policy interventions is inappropriate.
