When a presidential candidate declares, as Ron
Paul has, “We’re all Austrians now,” it’s inevitable that his
critics would try to discredit him and his ideas—whether they
understand what he’s talking about or not. That’s what liberal
pundit Matthew Yglesias does in his Slate piece “What Is
‘Austrian Economics’?” As Sheldon Richman explains, the piece
is informative—but that’s only because it reveals just how
little Yglesias and other left-wing critics actually know about
economic theory and history.