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Walter Block TV: ‘Renowned Local Economist Explains Controversial Austrian Theory’

October 25, 2013 in Economics

By Mises Updates


The story contains some errors of fact about Austrian Economics, but Walter Block is featured on NBC affiliate 33News in Louisiana. Click to watch the video.

According to 33News:

It is called Austrian Economics, and one of its leading proponents calls south Louisiana home.

Dr. Walter Block holds an endowed chair at Loyola University and is a faculty member of the Mises Institute. He has taught at several universities and written books about controversial economic topics.

He was one of many people angry about the recent partial shutdown of the federal government, but his reasons differed from most.

“If government is bad, then a shut-down government is good,” he stated. “I wish they would’ve shut more of it down, they didn’t shut enough of it down for long enough.”

The Austrian School of economic thought was devised by a handful of economists in Austria in the 15th century [sic]; otherwise, it has nothing to do with the country. Free enterprise is the school’s main tenet. Austrian theory says regulation is bad for the general welfare, as well as for economic growth and stability.

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