Saturday, 2 March 2013

Classical economics finest hour

In Germany the name Bruning is not as wellknown as Hitler.

The reason for this is that the policies he implemented via the classical textbook and as advocated by such luminaries as Hayek made Germany worse.

The Nazi party went from an asterisk in parliament to dominating it as you can see  here

courtesy of Alan Kohler courtesy of Lombard Street.

Friedman thought it mad and Hayek actually said he was wrong around 1936 I think.
Austerity brought on at the wrong time brings disastrous consequences.