A Serious, Direct, Easy-To-Understand Economic Argument is a Rare, Yet Most Appreciated, Thing ... And a New Book Offers Precisely This

 By Joseph Cotto

Robert Wenzel is a veteran Austrian School economist who knows a thing or two about how the financial system functions. While he is perhaps best known for his blogs, Economic Policy Journal and Target Liberty, he is also an author, having written about political philosophy in the self-descriptive Foundations of Private Property Society Theory: Anarchism for the Civilized Person and economic policy in The Fed Flunks: My Speech at the New York Federal Reserve Bank, whose title similarly speaks for itself.

Now, Wenzel has moved on to economic philosophy, which may be the matter he cares about most, given his activism in Austrian School circles for decades on end. He has chosen to critique a certain way of thinking rather than write a defense of Austrian economics, which seems particularly wise by me, given the litany of volumes written by other free market advocates who rise to extol Hayek, von Mises, Rothbard, and comparable luminaries. Wenzel's sights are trained on Modern Monetary Theory.