May 222013
 
Austrian economics

The Austrian ‘school’ of economics is a thread of all of these: leadership, history, thought, theory, application, & wisdom. It is a school whose luminaries are many — Rothbard, Mises, Schiff, Hazlitt, Say, & Hayek, amongst others both past & present.

This post is by no means meant to be a detailed review – the brevity of it is intentional –  just meant to bring the readers’ attention to these names, and lead them to want to do their own thinking & research. It is imperative since so many in the West, especially Americans, have been fed such a steady and overwhelming dose of Keynesian school, the vast majority don’t even know that there are other schools. One huge reason to want to pursue self-directed studies?  If you feel like your dollar doesn’t go nearly as far as even 5-10 years ago.  The Austrian school clearly explains the deep root reasons for this day to day realization that impacts nearly everyone’s household budget.

A collorary to the school is the writings of one Robert Kiyosaki, he of the ‘Rich Dad, Poor Dad’ series of purple & black books – including the best of the best, in my humble opinion, ‘Cashflow Quadrant’. Robert K’s tweets, Facebook statuses/links, and writings are a different entry point into this thread of economics which will rationalize and explain things that Keynesian thought will not be able to lock onto. In fact, much of the depth of the problems with micro ( household ) and macro (state/country/worldwide) economics result from Keynesian policies.

In sum, please do yourself a service to study, learn, and grow in this area. Economics is not hard to understand once you get your hands on the right set of information.

All the best!