Mises in the New York Times?
Yes, indeed, right here in this Ben Stein column. Sadly the citation doesn't get it quite right: "As the great economist Ludwig von Mises has said, causes and effects in economics are impossible to connect."
Umm, well, the actual idea is that causes and effects cannot be proven by the mere existence of a sequence of empirical events. Causes and effects are established through logical deduction of the implications of action in time. But you knew that.
And speaking of cause and effect, the same paper, the same day, says that if recovery doesn't come soon it is your fault because you are saving too much.
Comments (10)
S Andrews
Ben Stein is a buffoon. He should stick to acting.
Published: May 9, 2009 2:15 PM
BioTube
It's not all that off the mark. The statement's inaccurate, but the reasons for it are right(and that's the important part).
Published: May 9, 2009 2:33 PM
Magnus
I can't read a Ben Stein column without hearing that monotone voice he used in Ferris Bueller.
Published: May 9, 2009 3:06 PM
Tom
I don't expect any of the mainstream economists to accurately quote Mises or comprehend his understanding of the world in which we live.
Published: May 9, 2009 3:21 PM
Mark Ennis
Ben Stein's worst acting job is when he acts like an economist.
Published: May 9, 2009 6:38 PM
Anonymous
Ben Stein is not an economist. He is a Keynesian who believes that spending drives economic growth (not savings). Ben Stein was on the Glenn Beck show on April 21, and he said the American consumer needs to start spending again ... are you freakin' kidding me? This guy is a joke. He sucks at acting too. Apparently he knows his comparative advantage is in acting and not economics (because he sucks at both)
His economic predictions have been laughable. Please see this video of his debate with Peter Schiff (http://www.youtube.com/watch?v=RYX1AgEV0vo). At least he had the dignity to admit that Schiff was right.
It's amazing that "economists" like Ben Stein can still espouse Keynesian theory. Don't they understand that Keynesian theory can't explain stagflation (which we're currently experiencing)? Apparently this ignoramus hasn't figure it out yet.
Published: May 10, 2009 4:59 AM
BioTube
Anonymous, comments are supposed to be CIVIL. No need to rant and rave about people who hold disproven theories as gospel - there's even a bunch that believes that the titles of nobility amendment got ratified. Calling people idiots just turns a debate into a childish argument.
Published: May 10, 2009 7:38 AM
Jake
Poor Ben Stein. I wonder if he just quotes Mises to drop a name. I'm assuming most people out there don't have a great understanding of economics in general, let alone Misesian or Keynesian theoretical views, so by dropping Mises name and then suggesting Keynesian policy, he is propagating the current paradigm. It's a shame because I liked "Expelled: No Intellegence Allowed," he seemed rational and thorough in that.
Published: May 10, 2009 8:23 AM
Michael Orlowski
He's pulling names out of a hat.
Published: May 10, 2009 10:48 AM
Robert C
Thanks, Biotube. Here, and on economic/political message boards everywhere, people with whom I would normally sympathize go too far in expressing their frustration with mainstream pundits.
Name calling and insults is uncalled for even when the target is someone we disagree with. I'll go so far as to say it's even more important to be civil in a disagreement, as people will refuse to listen to someone who insults their current mindset.
As for Ben Stein in this matter, I think it's cool that a public figure name-dropped Mises in a widely read column. It's too bad that by overparaphrasing, he inadvertently twisted the message Mises was sending. Oh, well.
Published: May 11, 2009 12:06 AM