Posted by: rbbadger | February 5, 2009

Robert P. Murphy’s plan for the economy

Robert P. Murphy, one of the fellows of the Ludwig von Mises Institute, a think tank headquartered in Alabama which is devoted to the Austrian School of Economics (the same school of economic thought that von Mises, Murray Rothbard, and Friedrich von Hayek belong to) has put forth a plan for the reform of the economy that is certainly bold but will never happen.  You can read it here.

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Responses

  1. I don’t totally agree with all of this, but some of it is really good and his analogy was great! 🙂 And it sure makes a lot more sense than the route Obama is going!

  2. Robert Murphy is a pretty representative economist of the Austrian school. The Austrian School economists are generally very suspicious of any state intervention and generally favour of a libertarian approach to government. They also favour things like sound money and are in favour of the gold standard.

    The Austrian School of Economics got its start back in the Vienna of the late 19th and early 20th centuries. However, it traces its ancestry back to early 19th century France and 16th century Spanish scholastics. Two of the great figures of the school, Friedrich von Hayek and Ludwig von Mises had seen firsthand the dangers of too much government and the worship of the state. Both fled the Nazis when they came to Austria. Von Mises ended up in America and von Hayek ended up in Great Britain.


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