CHECK IT OUT

This is a critique of sorts of the ABCT (Austrian Business Cycle Theory).

It's written by John Quiggin who, I take it, is some kind of Keynesian from Australia. The article is Here. Read it.

The really interesting and fun thing here is the comments section underneath the article. At this point there are about 350 comments on the article. We've got a wild collection of Marxists, Anarchists, Austrians, Keynesians, Monetarists; informed laymen, academics, students, wonderers, cranks, wildmen, Learners, and other miscreants.

We've got people coming onto the stage hurling soundbites and platitudes at each other. And people hurling "principles" at each other. And people who are genuinely trying to understand the "others" positions. Sometimes we even get real arguments. Fantastic!!!

All kudos to Quiggin for providing this forum. I'm not sure if he knew what he was starting, but good for him for starting it and letting it run (it's not over yet). And kudos to all the people that have participated.

Brad DeLong take note: this is what can happen if you don't delete comments you dislike and close down discussions that take directions you don't approve of.

-flynn