* I wrote this a while ago, but it slipped through the cracks. The people at Campaign for Liberty wanted me to rough up Greg Ip and his “myths” about QE, which I was only too happy to do. (Incidentally, I know some readers thought I had been unfair to Ip when I blogged about him here. Just be aware that I had already submitted the article before your gnashing of teeth.)
* Whenever the liberty movement starts gaining momentum, I find it wise to thin the herd by lopping off a subset of those who disagree with the inner core of Austro-libertarians. To that end, in this piece I outline what I consider the Chicago School’s Achilles Heel. Here’s the intro:
In a recent post “Triumph of the Austrian Economists,” David Frum laments the displacement of the respectable Chicago School as the economists of choice among the political Right. Frum fails to see that conservative Republicans are justified in switching their allegiance to the Austrian economists, because supply-side monetarists have a glaring blind spot when it comes to the Federal Reserve.
* After severing links with Chicago School monetarists, I next turn to the antiwar activists who are boycotting Amazon and I explain why I think they are mistaken too. (It’s hard work being this exclusive.) Two excerpts–one silly, the other serious:
A silly Star Wars analogy may help: The boycotters presumably liken Amazon to Lando Calrissian, who sold out his friend Han Solo in a deal with the Empire. But this isn’t at all accurate. Amazon didn’t deliver Assange over to the authorities; his jilted lovers did. Amazon’s “betrayal” merely meant that the WikiLeaks site was down for a few hours, and all Amazon did was end its business relationship with the pariah organization. It would be as if the Millennium Falcon needed to refuel, and the first planet they stopped at told them to keep moving because they were on Vader’s blacklist. Now if that had happened in the movie, and then after hitting the next depot (three hours away) the rebels circled back and starting firing on the first place for not selling them fuel, the audience would have been quite perplexed. That’s not what the good guys do. The good guys study the schematics of the Death Star; they don’t figure out which groups of non-combatants they should punish next for not joining the rebellion.
# If you want peace, then you should renounce threats, property destruction, and of course violence. Those are the techniques of the government.
# The American empire of military occupation and surveillance ultimately rests on American public opinion. I am ashamed to say that I once was, what we would now call, a “neo-con” (though the term was not in usage at the time). But as I delved deeper into the works of Austrian economists and Old Right conservatives, I realized my intellectual confusion. It made no sense to oppose the welfare state and government meddling in the domestic economy, while supporting the trillions the U.S. government spent on foreign adventures. Since I personally was convinced of the poverty of militarism, I know that others can be likewise converted.
# The truth is on our side. That is why WikiLeaks poses such a threat to the ruling class; they scurry like cockroaches from the light. Those who desire peace need not resort to hostility and aggression. They simply need to bravely speak the truth.
# In the long run, the truth will out. Good will eventually triumph over evil.