Saturday, April 25, 2015
On Mainstream Historians and Economics
Most of them are economically illiterate and fail to understand even the rudiments of the business cycle. I mean, just look at the way that they treat FDR and the Depression. If they criticize the fellow at all, it's almost always of the viewpoint that he didn't do (as in, misallocate) ENOUGH (they apparently buy into this cockamamie notion that government-centric approaches to debt consolidation and economic growth are preferable to those of the market) and they always, ALWAYS, ignore the part that the Federal Reserve Bank played in creating the whole mess. Yes, we do want an unbiased perspective, preferably, but to not have any theoretical framework (other than a statist one, I'm saying) and actually believe that history will somehow write itself is a wee-bit naive, in my opinion.