Austrian Economics vs Keynesian Economics

posted by Josiah Garber on December 5, 2010
in Economics

Why are do so many economists believe in Keynesian Economics, while Austrian Economics has had a much better track record or predicting recessions?

Austrian Economists even have a well thought out explanation for the business cycle, unlike those who follow Keynesian Economics.

Perhaps it could be economists who follow Keynesian Economics are funded by the Federal Reserve System and those following the Austrian School of free market economics are not.

The Federal Reserve System also allows the government to spend money it does not receive through taxation. It’s no wonder people in high places espouse Keynesian Economics and downplay Austrian Economics.

Here’s a short video about the recent collapse and the correct predictions of Austrian Economists.

For more information on Austrian Economics visit The Mises Institute.

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Learn about Gerald Celente’s 2011 Economic Predictions

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