11 reasons why Austrian Economics is superior to KeynesianismSubmitted by DJP333 on Mon, 01/14/2013 - 22:05
Since the collapse of the United States economy in 2007 and 2008, there has been a growing interest in the world of economics. There have been two instrumental economic schools of thought that have become more ubiquitous as the years have gone by, but only one of these is practiced in government and taught in universities and colleges across the country.
For supporters of retiring Texas Republican Congressman Ron Paul, Austrian Economics is the prevailing theory that has proved time and again that its economic adversary is a total failure. Meanwhile, adherers of the status quo and those who disdain the free market abide by Keynesian Economics.
Which one is the correct economic thought? Well, there is no defining answer, but there is historic, economic and political history to showcase how many times the Austrian Theory has been correct, while Keynesianism has gotten the U.S. into the mess it is currently in.