Disestablishmentarianism

Arnold Kling's ideological fallout:

My view of the crisis is that every sector of the establishment has been discredited. The financial establishment has been discredited. Government policymakers and regulators have been discredited. And academic economics has been discredited. The fact that we now have all three on the same page about policy going forward is hardly comforting.

Mencius concurs, chiming in with:

The Austrian School are the only people who come out clean on this one. I will not claim that Mises and Rothbard had the answer to everything. But all further work proceeds from them.

20th-century academic macroeconomics - modeling, basically - will be as discredited as alchemy by the time this is over. So will its partner in crime, Hamiltonian central banking.

This crisis has me reexamining my attraction to Chicago School econ. Misesians are looking better and better with each passing day. Mea culpa. You told us so; we should have listened.

In my defense, packaging sound economics with racism, gold-buggery, and other forms of kookery isn't a wise marketing strategy. Unfortunately, stigmatized knowledge tends to snowball. That is the unavoidable risk of stepping outside the mainstream.

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In my defense, packaging

In my defense, packaging sound economics with racism, gold-buggery, and other forms of kookery isn't a wise marketing strategy. Unfortunately, stigmatized knowledge tends to snowball. That is the unavoidable risk of stepping outside the mainstream.

I think you're mostly the one making this package. How many articles on mises.org are kooky gold-buggering racist pieces, how many deal with monetary policy ?

True, they seem to have

True, they seem to have gotten much better at managing their "official" image over the last decade or two, ceasing to associate themselves with the more unpleasant elements and outsourcing the parts that remain to less official channels. But there was never any effort to explicitly repudiate any of it; they changed their focus (mostly) and hoped the embarrassing stuff would just go away. Unfortunately for them, the Internet does not easily forget, and anyone who hangs around the paleolibertarian circle for long enough starts to notice people like Joseph Sobran, Gary North, Sam Francis, Jared Taylor, and Bob Wallace hanging around with them. Why is that?

I'm not the only one who has noticed this strange package of Austrian economics mixed with racial and other assorted ugliness. See: RightWatch and Tom Palmer's “The Fever Swamp”, both of which catalog this sort of stuff whenever it rears its ugly head.

And note that this is not the focus of my post. My focus is on the soundness of Austrian economics, which is tarnished when it is packaged with crankiness, kookery, and racism.

Austrian != LVMI

Micha, you shouldn't equate Austrian economics with the Mises Institute. Most of the academically respected Austrians are either not associated with LVMI or only loosely so associated.

Yup, I know this now, after

Yup, I know this now, after discovering the NYU and GMU Austrians. But I didn't know this then.