In his Friday column Sheldon Richman offered up a devasting rebuttal to Washington Post columnist Harold Meyerson’s absurd piece arguing that our current debacle has humiliated all economists except Keynes.
Does Meyerson really not know that Austrian school economists predicted the housing bubble would burst with disastrous results years before it happened? Perhaps he really is that insulated from serious economics — after all, he makes his living by pounding out columns for a pro-government newspaper. But it is also conceivable that since he doesn’t like the Austrian view that government intervention is invariably counterproductive, he just doesn’t want to mention it.
