"Which Austrian School economist are you referring to?"


This is going to sound awful, but to me, those who write from an “Austrian School” viewpoint are pretty inter-changeable. (They've all drunk the kool-aid.) Where I run into their writings is at Lew Rockwell's site, which means more disclaimers. (I don't share their anti-global warming hysteria, etc.)

Where I do find their writings informative is on the topics that would interest a bond investor: interest rates, inflation, the misbegotten role of central bankers, the economic pointless of wars, the real causes of the Great Depression, the current mishandling of this one, etc.

Wikipedia suggests ” The Austrian School now lies somewhat outside the mainstream,[1] and currently contributes relatively little to mainstream economic thought.[3][4] “

But I see that “apartness” as their usefulness. If I want mainstream economics, I can open any econ text, turn on the evening news, pick up any financial magazine, etc. “Mainstream econ” is ubiquitous and over-represented. E.g., of the 100 senators and 435 congressmen currently making policy, how many have a clear sense of how money and markets work? Just one, right?

Help! Save me! Save us all!

So that's why I recommended to Hockeypop that he drop Gross and pick up someone else. Not only will he get a viewpoint he won't get elsewhere, but on the issues that matter to a bond investor, the vonMises crowd seem to have it right. (IMHO, 'natch)