Mises 1, Keynes 0
Throughout his limited campaign, cable news networks like FOXNews ridiculed Ron Paul for his dire outlook on U.S. foreign policy and our failing monetary system--specifically, the predicted fallout due to the influence of the Federal Reserve. However, as the crisis looms, even Neil Cavuto is now admitting Ron Paul was right. But, it's not simply Ron Paul--he's just the political representative of a school of thought. It's the Austrian system (Misean) that's having its day in the limelight.
What's the lesson to be learned? Simple. The worse a crisis gets, the less extreme certain ideas become. The Austrian system is ridiculed, but it will certainly garner an audience through the upcoming recession(s)/depression(s). This will also be the case with Christian Reconstruction. The deepening crises will make a fringe element like theonomists the go-to party for Biblical absolutes.
What's the lesson to be learned? Simple. The worse a crisis gets, the less extreme certain ideas become. The Austrian system is ridiculed, but it will certainly garner an audience through the upcoming recession(s)/depression(s). This will also be the case with Christian Reconstruction. The deepening crises will make a fringe element like theonomists the go-to party for Biblical absolutes.
