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Nouriel Roubini Clueless About Austrian Economics


Robert Wenzel reports on Roubini Attacks Austrian Economists at Economic Policy Journal:

Nouriel Roubini is very well connected in the world of the financial power elite, but that doesn’t mean he knows is ass from his elbow when it comes to Austrian economics. He tweets:

“The austerians’ Austrian austerity will not lead to Schumpeterian ‘creative destruction’ but rather ‘deadly destructive depression’”

First of all, modern day Austrians see Schumpeter as a marginal player when it comes to the Austrian school of economics…

Second, there are no Austrian economists who would be in favor of the current austerity programs…

Austrians view the IMF etc. as bankster enforcers, who exist for one reason and one reason only, to ensure that the banksters are paid…

Rather than banksters getting paid, Austrians would rather see the the PIIGS countries go into bankruptcy, default on their debt and free the people…

Read the entire post here.

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