We are all Keynesians now. - Milton Friedman - Austrian Economist, - TopicsExpress

We are all Keynesians now. - Milton Friedman - Austrian Economist, referring to GOP President Richard Nixons policies Do you ever notice when majority of Republicans talk about economic policy they always say free market economics instead of Austrian economics. The reason they dont say Austrian economics is because Austrian economics is heavily against crony capitalism and bloated military spending (especially during war). Austrian economics is a philosophy, while free market economics is the mechanism that Austrian economics prefers. Here is the most entertaining way I have seen to show the differences in the two major economic philosophies: Keynesian and Austrian. #economics #politics

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