Here's an enlightening video, featuring bits and pieces from the raging debate which occurred between proponents of the Austrian School of Economics and those of the Keynesian School during the last five or so years of the "noughties decade," a decade which ended with the U.S. economy mired in the worst economic condition since the Great Depression.
The long and short of it: The Austrians warned us; the Keynesians just laughed. Of course we know now know from the evidence who really got the "last laugh."
Sodden thought: The Keynesians are still in full charge of the still-floundering U.S. economy, by the way, as they wastefully continue to pump hundreds of billions of taxpayer dollars into a futile effort to resist the natural economic forces which would otherwise force our economy much more efficiently into better economic equilibrium.
Yessiree, gentle readers, "Ich bin ein Österreicher," economics-wise, at least (with apologies to the late JFK).
And what about you?
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