Can someone explain to me why some Austrian types are so petrified - TopicsExpress

Can someone explain to me why some Austrian types are so petrified that Friedman and Schwartz might be right? Why is that such a terrible thing? Why cant a full accounting of the Great Depression include the ABCT to explain why there was a recession in the first place, Friedman and Schwartz to explain why it got so bad, so quickly (along with Rothbard on Hoover), and then Robert Higgs to explain why it lasted so long? The ABCT is NOT a theory of everything - its neither necessary nor sufficient to explain every recession/depression. Seriously: how does it somehow damage Austrian economics to admit that F&S have 1930-33 correct?

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