Ron Paul has been evangelizing among congressional Republicans for the economic thought of Thomas Woods, a figure who was unpopular in this crowd when he was arguing against Bush’s wartime policies. Now, however, Woods is popular for his “Austrian business cycle theory", memorably criticized by Tyler Cowen, Bryan Caplan and Gordon Tullock at the libertarian/Chicago end of the spectrum to Keynesians like Paul Krugman and Brad DeLong.
See John Quiggan's history of the contributions of the Austrian theory.
No comments:
Post a Comment