Declan McCullagh gives Meltdown an excellent review at (of all places) CBSNews.com.
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Rich Phinney Says:
The link inside of this story to Krugman’s ‘98 article on Austrian cycle theory is worth the click. Thank you Tom, for all your good works! It was a joy to meet you in Colorado Springs and my daughter brought many friends to the Boulder campus appearance. You are a gentleman indeed. Godspeed you.
T Says:
Friedman’s comments that the Austrian Theory has caused a great deal of harm are completely absurd. How could a theory that is not being applied cause harm? Keynesian economics was applied during the depression and is being applied now. How much good is it doing? Anyone taking Friedman (or Krugman for that matter) seriously needs to have their head examined.
Read the book. It makes a great deal of sense. Some parts will require more in depth study to understand clearly, but an excellent primer to the causes and cure of our current economic woes. Particularly enjoyed the chapter on money. I hope it gets wide circulation. Thanks for the work. Now if we can only get enough people behind it to vote in Representatives like Ron Paul who are ready and willing to apply it in real life, there would be a reversal of our current trend towards financial collapse. Just in case, you may want to learn how to bake your own beans and bread, cut back on the meat and acquire a weapon with ample ammunition. Times may get a little tough thanks to the boy genius in office now with CFR advisors like Geithner and Summers.
Andrew Fischer Says:
Milton Friedman sounds like an dolt when he says: “If you go back to the 1930s, which is a key point, here you had the Austrians sitting in London, Hayek and Lionel Robbins, and saying you just have to let the bottom drop out of the world. You’ve just got to let it cure itself. You can’t do anything about it. You will only make it worse. You have Rothbard saying it was a great mistake not to let the whole banking system collapse. I think by encouraging that kind of do-nothing policy both in Britain and in the United States, they did harm.”
Does Mr. Doofus Twinkie actually believe any sort of do-nothing plicy was enacted? Or that the Austrians’ mere words caused harm (by somehow lessening the government interventions)?
Thomas E. Woods, Jr., is the New York Times bestselling author of nine books. A senior fellow at the Ludwig von Mises Institute, Woods holds a bachelor's degree in history from Harvard and his master's, M.Phil., and Ph.D. from Columbia University. Read more »