The Economics Profession’s Dr. Frankenstein
April 9, 2014
That would be A. W. Phillips of Keynesian “Phillips Curve” notoriety and also of the Dr. Frankensteinish MONIAC computer that purportedly imitated the real economy. It’s absolutely hilarious to think that such an idiotic gadget with water pumped in to represent taxes, and pumped out to represent savings, was so celebrated by the likes of Nobel laureate economists Paul Samuelson and Robert Solow in the ’50s and ’60s.
Dr. Thomas DiLorenzo [send him mail] is a former professor of economics at Loyola University Maryland and a longtime member of the senior faculty of the Mises Institute. He is the author or co-author of eighteen books including The Real Lincoln; How Capitalism Saved America; Lincoln Unmasked; Hamilton's Curse; Organized Crime: The Unvarnished Truth About Government; The Problem with Socialism; and The Politically-Incorrect Guide to Economics.
H.L. Mencken's Opinion of "The Veteran"
