Anatole Kaletsky on Austrian Economics

This is noteworthy, not for its insights (it has none) but for the simple fact that the Editor-at-large of The Times newspaper of London deigns to dismiss the"liquidationist" Austrian theory of the business cycle while taking a swipe at Murray Rothbard and"the libertarian market fundamentalism" of Ayn Rand.

As Gandhi is reported to have said,"First they ignore you, then they ridicule you, then they fight you, then you win." I guess Austrians have now made it as far as ridicule.