Wednesday, April 24, 2013

Goodbye and Good Riddance

It's goodbye and good riddance to Margaret Thatcher.

Her beliefs were based on the crackpot Austrian economic school, the forerunners to the "philosophy" of American crackpot Milton Friedman:

Hayek had started after World War I as a hack writer in the pay of rent-gouging Viennese landlords who wanted propaganda articles condemning the evils of rent control. He was considered a very marginal academic, almost a crackpot, until he attracted the attention of economic illiterate David Rockefeller, who hired Hayek to help him in cramming for exams at the London School of Economics.

Hayek, like his co-thinker Ludwig von Mises, was an exponent of the backward and primitive Austrian school of economic theory, which had been concocted by feudal-reactionary quackademics in the Habsburg empire to undercut the prestigious German-American school of dirigism and protectionism exemplified by figures like Friedrich List, one of the main inspirations for the recent economic success of places like Japan, Taiwan, and China.

For the Austrian school, any government intervention in or regulation of economic life is automatically classed as totalitarianism. The Austrian school relies on crude slogans of deregulation, privatization, and the free market. The Austrian school is sometimes called the psychological school, since it rejects as collectivist analyses which tried to grasp the broad objectivity of a national economy. The theoretical vantage point of the Austrian school is always the sociopathic urges and desires of the individual predatory speculator.

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