The Mudcat Café TM
Thread #132588   Message #3041482
Posted By: Lonesome EJ
27-Nov-10 - 12:44 PM
Thread Name: BS: Tea Party = Flawed Economic Model
Subject: RE: BS: Tea Party = Flawed Economic Model
Of course, Bob, the real hardcore Miseians believe that the fundamental source of financial crisis is governmental manipulation, devaluation of the currency and the move away from the gold standard. In their view this, and not leveraged stock acquisition, bank malfeasance, and downright embezzling, was the cause of both the Depression and our current crisis.
A book entitled The Road to Serfdom written in the early 1900s by Friedrich Hayek, and recently endorsed by Glen Beck, lays out the Misesian principles. It was recently made a mandatory part of the curriculum in Texas.