I was reading about the Libertarian candidate for the U.S. Senate seat in North Carolina and saw that he subscribed to the Murray Rothbard wing of the Austrian school of economics. While I think Austrian economics is an under-utilized but useful tool in the toolbox of economists, I loosely subscribe to the Ludwig von Mises wing, which seems quite moderate compared to the Rothbard wing.
Rothbard (1926-1995) was opposed to the Federal Reserve System and argued strongly that the dollar should be linked to gold, which effectively removes almost all control over the economy. Recessions would be much more frequent, and economists would have fewer tools to fight them.
Libertarians also tend to be supporters of Ayn Rand, feeling there are super-humans among us, known as "Job Creators." Still, their political philosophy is very appealing with its emphasis on individual choice, even to the point of legalizing drug use.
I can take Libertarianism and von Mises and even Ayn Rand . . . but no Rothbard, please.
North Carolina, we're counting on you!
Rothbard (1926-1995) was opposed to the Federal Reserve System and argued strongly that the dollar should be linked to gold, which effectively removes almost all control over the economy. Recessions would be much more frequent, and economists would have fewer tools to fight them.
Libertarians also tend to be supporters of Ayn Rand, feeling there are super-humans among us, known as "Job Creators." Still, their political philosophy is very appealing with its emphasis on individual choice, even to the point of legalizing drug use.
I can take Libertarianism and von Mises and even Ayn Rand . . . but no Rothbard, please.
North Carolina, we're counting on you!
