Friday, November 4, 2011

Quaker Links Mises to Geithner, Clinton, Obama and Greenspan

Brad Cotton, who is promoting a new film, Freedom Riders, writes:
The Circleville Quakers, also known as the Religious Society of Friends, honoring a centuries long belief that God calls us to work for peace and justice for all invite everyone to a public viewing of the PBS film “Freedom Riders” at 4 p.m.  Sunday at the Scioto Valley Coffeehouse, 216 W. Main St.
He has this take on Ludwig von Mises and Austrian economics:
The Austrian/Chicago economic academic model as taught by Mises, Hayek and Friedman and implemented among us by Reagan, Greenspan, Bush and Geithner, even Clinton and Obama, and perpetuated by gazillions of Wall Street dollars buying legislators is that we, the people, are incapable of governing, that the totally lawless and amoral free market ensures the greater good. The inevitable end result is dead coal miners, thousands dying for lack of health care and the dangerous acquisition of wealth and influence, the destruction of democracy itself, by modern day feudal lords.
I have no idea how he could possibly link the teachings of Mises to Geithner, Obama and the rest. Mises was against government intervention in the economy---which is the opposite of what Reagan, Greenspan, Bush, Geithner, Clinton and Obama do(did). Certainly, "gazillions of Wall Street dollars buying legislators " has nothing to do with Mises, since Mises was against the government regulations that Wall Street operators want to see imposed on competitors.

The Circleville Quakers are getting one confused report on Austrian economics and Mises.

Here's Mises on economic freedom, of which he was a proponent:

The meaning of economic freedom is this: that the individual is in a position to choose the way in which he wants to integrate himself into the totality of society.
Nothing there about having Reagan, Greenspan, Bush, Geithner, Clinton or Obama making those choices for the individual.


  1. Leftists and statists generally cannot wrap their tiny minds around the difference between crony capitalism and laissez faire. Ever.

    Thus, monopolies that arise due to regulatory capture are exactly the same as those that allegedly arise under laissez faire.

    Demo, from the Greek for "People".
    Cracy, from the Greek for "cretins".

    The people are cretins.

  2. I also like how he states "Austrian/Chicago economic academic model" as if the two are synonymous. Clearly, Mr. Cotton has no clue what either Mises and the Austrian school advocate.

  3. "The Austrian/Chicago economic academic model as taught by Mises, Hayek and Friedman and implemented among us by Reagan, Greenspan, Bush and Geithner, even Clinton and Obama,"

    It look like someone didn't do their research. LOL Even taking the Austrian school out, this is still not accurate in even the most liberal sense.

  4. That is one confused human being. Wow.

  5. How in the hell does this fool link Mises's economic theories with Obama, Geithner, Bush and so forth? I doubt this person has read even one word of Mises's writings. If he has then he's either intentionally lying or is a complete moron.

    This is just insane!

  6. To quote Murray Rothbard,

    “It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.”

    I mean, is there really more to be said of this article?

  7. Saying anything remotely reminiscent of the Austrian School position on government intervention and monetary policy to the likes of Bush, Geithner and Obama would be like waving a crucifix in front of Dracula.

  8. Is it intentional disinformation or wild minded ignorance? I can't decide, or if it matters.

  9. I've seen this nonsense before. Not too long ago. From a different source. Hmmmmm. Talking points?? Not that I'm a conspiracy theorist! :)

  10. It is funny that on the original article there are still zero comments. Something tells me that the grand majority of the comments that they're getting are from Austro-libertarians pointing out how entirely ignorant Brad Cotton is with regard to economics (esp. economic schools of thought), so they're afraid to put them up.

    It is clear that many in the media are now in attack mode. First we get "libertarianism=racism", which was thoroughly debunked in the comments section of that article (and, it was shown that it is the writer who is racist). Now we get "Austrian School=Chicago School=interventionism", with a little dash of "without government we'd all be limbless, uneducated serfs". It would be humorous if it weren't so blatant and sad.

  11. It can be a good thing when these misguided individuals open their mouths and completely discredit themselves, as long as their audience gets the true message for contrast.

  12. Brad Cotton, MD, the author of this buffoonery, clearly understands nothing about his subject. One would hope the good doctor knows more about medicine than he does about economics, but one could easily argue that someone so lacking in one subject, may well be deficient in others...