Keynes was a very good writer (he used words as if they were weapons – and he used them to sneer and smear), but he had no concern for truth.
Mises was the opposite – he had no interest in style, indeed he seems to have despised it. But he had a passionate concern with truth – valueing it above everything else (one could argue that this contradicted his utilitarian philosophy – but he could have replied that lies are an unstable foundation for happiness).
As for when the present low interest rate credit orgy will end – like Guido Hulsmann I just do not know for sure (although I suspect the start of the breakdown will come in 2013).
My own view of what happens then is even more negative than that of Dr Hulsmann.
Very good.
Keynes was a very good writer (he used words as if they were weapons – and he used them to sneer and smear), but he had no concern for truth.
Mises was the opposite – he had no interest in style, indeed he seems to have despised it. But he had a passionate concern with truth – valueing it above everything else (one could argue that this contradicted his utilitarian philosophy – but he could have replied that lies are an unstable foundation for happiness).
As for when the present low interest rate credit orgy will end – like Guido Hulsmann I just do not know for sure (although I suspect the start of the breakdown will come in 2013).
My own view of what happens then is even more negative than that of Dr Hulsmann.