Richard Salsman Refuted Again
Do read this interesting critique by Larry Sechrest (Thanks Per-Olof Samuelsson for the link) of Objectivist anti-Austrian Richard Salsman view of the Great Depression and the Austrian Business Cycle Theory. Per-Olof Samuelsson has also written an article criticizing Salsman and I have written two posts criticizing him and other Objectivist anti-Austrians ( see here and here). I haven't heard of him for some time now. While I don't really miss him, it would be interesting to hear how he could explain the current economic crisis.
posted by stefankarlsson at 3:40 PM
4 Comments:
And thanks for spreading the message!
Stefan,
Objectivism, as a philosophy, does not embrace any particular theory of economics. But, as you indicate in one of the linked articles, Ayn Rand was an ardent supporter of Austrian economics. That Salsman's economic views have any relationship with Objectivism or Objectivists is an unfortunate historical accident.
Well, of course Salsman's mistakes cannot be blamed on Ayn Rand or Objectivism. Unfortunately, however, Salsman seems to have some influence on other Objectivist intellectuals. On the other hand, I have seen quite a few examples of Objectivists who do have a good understanding of Austrian theory.
A sad comment: Larry Sechrest died today, at the age of merely 62. There is a post about this at the Mises Economic Blog.
Post a Comment
<< Home