Austrian School Gaining Influence as Nations Tackle Debt

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“Who are these Austrian-school economists?” asks the Economic Times of India.

“We are the oldest school of thought and we are still the smallest but we are clearly the fastest-growing school,” says Prof Mark Thornton, an American economist of the Austrian School.

GP Manish, a professor of Indian origin and member of the Troy University, is one of the instructors at a seminar for high schoolers and their teachers in the US on ‘What has Government Done to Our Money?’ The course was also offered online by the Mises Academy, named after Ludwig von Mises, one of the Austrian School’s best known names. As the institute website puts it, “The economic crisis we are in is largely due to unsound money” and the intent of the course is to help young minds “make future financial decisions that take into account the government’s monetary meddling.”

Bookstore sales by Mises are up several hundred percent and the top 15 visitors to the site are from countries including Portugal, US, Bangladesh, China, Pakistan, Brazil and India. Mises Institutes have popped up all over the world and Google search for ‘Mises Institute’ generates over 2.6 million results.

Meanwhile, Paul Krugman responds…

2:13 pm on December 29, 2012