Thursday, July 29, 2010

Half-Truth Journalism In Barron's Masks The Economic Distinctions.

Is it propaganda when half truths are used deliberately? Is it propaganda when half truths are used out of ignorance? Is it propaganda when those who are supposed to be an authority (because it is assumed that they have done thorough investigative research) report ignorantly?

Yes, Yes, and Yes.

Austerity is a misrepresentation of Austrian economics. In a world without the consequences of the corruptions of the ego-driven interventionists there is great prosperity and generosity and liberalism flowing continuously in an "Austrian' free market society. The austerity needed as part of the correction of the disasterous policies of Keynesian quackery has to be attributed to the Keynesian quackery itself.

It is not austerity vs drunkedness. It is economic law versus quackery.

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