Thursday, November 8, 2012

CFA Institute Requires Knowledge of Austrian Business Cycle Theory

Paul Selinger emails:
Before this year the mainstream and prestigious CFA Institute excluded the Austrian Theories from their Exam materials (based on a review of their 2011 books). This year they have included the Austrian School Business Cycle Theory with mention of Hayek, and Mises (see section 3.1 on page 313). I believe about 100,000 people a year take the Level 1 CFA exam, and now all are required to know the Austrian School Theory. Another sign that you guys are winning.


  1. That is big news. Love it.

  2. Don't assume that your readers know what CFA means. Please always clarify the meaning of initials.

    Now, what does CFA mean?

  3. Arthur Krolman , CFANovember 8, 2012 at 10:21 PM

    Chartered Financial Analyst

    This is big. And I'm one of the closet Austrians in their ranks. I can come out now!

  4. This is really cool. I have spent hours on fighthing the statist morons right as freddie and fannie were collapsing in 2008.thank god they have finally woken up.The economics taught in L1 and L2 was pukeworthy

  5. really cool. so glad that after hours spent vomiting out statist crap just to pass the exams and arguing with keynesian and monetarists on from 2007-2009 even as wall st and fannie were going under,the institute seems to have got some people who 'get it' in its curriculum committee

    1. I emailed lew Rockwell about arguing with statist's recently, about how I continued to try to show them their ideas were backward and pointing a gov't gun at me. With much frustration I would argue my point to def ears. So I asked Lew what a wise old libertarian does when he can't convince people of their flawed logic? He simply said people have ears for listening sir.
      So now I state their fallacies and don't mind if they try to rebut me, most people are pro govt. So take his advice as well and state you'r points, and generally speaking you'll get told your a nut, but one or two people tend to agree and they are the ones you should keep talking to.

  6. As a charter holder I'm excited to see this happening. I finished the program a few years ago and hated the Econ sections only slightly less than GIPS material.