David BahnsenSenior Vice PresidentMorgan StanleyNewport Beach, CA Dear Mr. Bahnsen: I am writing this in response to your article, published on December 12, 2005, which was critical of Austrian School economics. You said at the time, correctly, that Austrian School economists were highly skeptical of the American stock market, given Alan Greenspan’s policies as Chairman of the Federal Reserve System. You then quoted several paragraphs by Mr. Greenspan proving that Greenspan was an advocate of free markets. This article was a follow-up to your article of October 24, “The Streak Goes On,” in which you had kind words for President … Continue reading A Lesson in Austrian Economics