Other Schools of Thought

Jonathan Newman joins Bob to respond to Robert Reich's new series on "economic myths."

Mainstream economists insist that data alone can explain economic events, permitting them to test economic theories. In truth, without sound theory, data is meaningless.

The watchword in higher education today is decolonization, which depends upon what Ludwig von Mises called racial polylogism. Mises understood that polylogism undermines the very foundations of scientific thought.

Contra critical theorists, who claim human reason is nothing more than a social construct, reason is both understandable and universal. We cannot abandon it, for if we do, we abandon liberty itself.

Robert Reich is an economic fallacy machine, and he has begun a ten-week series in which he claims to debunk economic myths. Of course, to do so, he has to create economic myths and present them as factual.

Mainstream economists insist that data alone can explain economic events, permitting them to test economic theories. In truth, without sound theory, data is meaningless.

Contra critical theorists, who claim human reason is nothing more than a social construct, reason is both understandable and universal. We cannot abandon it, for if we do, we abandon liberty itself.

The watchword in higher education today is decolonization, which depends upon what Ludwig von Mises called racial polylogism. Mises understood that polylogism undermines the very foundations of scientific thought.

The rage among academic elites and multiculturalists is the insistence that one cannot apply Western economic analysis to different cultures. However, Ludwig von Mises insisted that economics is a universal science.

As the US economy falters and people continue to fall behind, the Austrian business cycle theory provides the best explanation for what is happening, even if the elites don't want to hear it.