Clueless ‘MarketWatch’ Columnist Disses Austrian Economics
Robert Wenzel shows top to bottom, Delamaide is clueless on facts and theory about deficits, business cycle theory and basic economics. Here is an example of Delamaide’s “analysis.”
Delamaide confuses Austrian policy, with current “austerity” programs, which everyone from the geographer Krugman to Bob Murphy promote as nearly the same thing. Causing the clueless like Delamaide to fall completely into the trap, while Krugman and Murphy both understand the difference but confuse the issue. “Austerity” in the eurozone is about raising taxes, central bank monetary control (the ECB) and micro-economic management for the benefit of banksters and cronies—far from anything an Austrian school economist would propose in order to get an economy out of its decline.
