Austrian Economics Quotes

I'm absolutely a Ron Paul fan.

At the heart of capitalism is the unification of knowledge and power. As Friedrich Hayek, the leader of the Austrian school of economics, put it, "To assume all the knowledge to be given to a single mind... is to disregard everything that is important and significant in the real world." Because knowledge is dispersed, power must be as well.

The seminar in economic theory conducted by Hayek at the L.S.E. in the 1930s was attended, it came to seem, by all of the economists of my generation - Nicky Kaldor , Thomas Balogh, L. K. Jah, Paul Rosenstein-Rodan, the list could be indefinitely extended. The urge to participate (and correct Hayek) was ruthlessly competitive.

If people are teaching economics, they need to teach all the different disciplines, all the different schools in economics. They can't just teach one because then the person isn't equipped to deal with the economics profession.

I find some unity with Ron Paul.

Hayek, in my view, is the leading economic thinker of the 20th century.

I am not Dr. Ron Paul. I am not Dr. Ron Paul, Jr. I am not Dr. Ron Paul Lite.

[I]f one asks what substantive contributions [F. A. Hayek] made to our understanding of how the world works, one is left at something of a loss. Were it not for his politics, he would be virtually forgotten.

I have been a Ron Paul 'R3VOLutionary' longer than most 'R3VOLutionaries' have been alive!

I've got to say, I'm a Rand Paul fan.

One grave and fundamental Keynesian error is to persist in regarding the interest rate as a contract rate on loans instead of the price spreads between stages of production. The former, as we have seen, is only the reflection of the latter.