Monday, December 15, 2008

Great Minds Think Alike: Wenzel-Mercer Edition

Me, November 27:

Is German Chancellor Angela Merkel an Austrian?

As in Austrian economics


Ilana Mercer, December 13:

Is Germany’s finance minister really an Austrian … economist, that is?

German Finance Minister Peer Steinbr├╝ck comments (via Mercer)

•No matter how much any government does, the recession we are in now is unavoidable.

•The speed at which proposals are put together under pressure that don’t even pass an economic test is breathtaking and depressing.

•The switch from decades of supply-side politics all the way to a crass Keynesianism is breathtaking. When I ask about the origins of the crisis, economists I respect tell me it is the credit-financed growth of recent years and decades. Isn’t this the same mistake everyone is suddenly making again, under all the public pressure?

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