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AE in the FT

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05/18/2012

Mises, Ron Paul, and the Austrian Business Cycle Theory cited in this published letter from an Irish gentleman in the Financial Times.

Sir, In response to the correspondence (Letters, May 7) in relation to Ron Paul’s op-ed “Our central bankers are intellectually bankrupt”, I would suggest the gentlemen first acquaint themselves with Austrian economics before proposing their own theories or rehashing those of Keynes.
Congressman Paul’s views are informed by Ludwig von Mises and, in particular, his magnum opus Human Action.
Government interference in markets leads to artificially low interest rates, a misallocation of resources and, in essence, creates the business cycle.
Fiscal stimulus is the cause of and not the solution to the crisis that “nobody saw coming”.
Alec Gourley, Swellan, County Cavan, Ireland
 

Dan Sanchez is a libertarian writer and an editor at the Foundation for Economic Education. He is a contributing editor at Antiwar.com, where he writes a regular column, and an independent journalist at Anti-Media. His work has frequently appeared at such websites as Zero Hedge, the Ron Paul Institute for Peace and Prosperity, and David Stockman's Contra Corner. His writings are collected at DanSanchez.me.

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