Finally a speech with attitude tells it like it is, at the US Federal Reserve. The speech was given by blogger Robert Wenzel in late April to the New York Federal Reserve Bank, because they invited him to speak. It deserves a read — a man who knows the details tallies up the score, and politely lays out the contradictions of the Federal Reserve at point blank range.
But it is much more than that. For the US Federal Reserve to invite Wenzel to explain Austrian economics to them is like “the team” in Australia inviting me along for lunch at the Department of Climate Change to explain why the CO2 theory ain’t too hot. If that happened (as if), what would I say? This is the nature of the choice that Wenzel faced. A slam-dunk, in the nicest possible way.
The convergence of common sense: Austrians are the skeptics of economicsWenzel is an Austrian economist, which is like being a climate skeptic in climate change. In the 1930s, Keynesian economics took over from classical economics among the central [...]
