Elites Plot to Replace Austrian Free-Market Economics?

Don’t Entrust Economics to the Experts … Why has so much of the world succumbed to populist demagoguery and xenophobic nationalism? To a non-trivial extent, economists may be responsible.  This idea finds some support in a new book, “The Econocracy,” written by three U.K. economics students — Joe Earle, Cahal Moran and Zach Ward-Perkins. – Bloomberg

Austrian economics has been driving banking elites mad for over a century and now apparently they are trying to replace it with what can be called “Econocratics” – our elaboration of the term.

In fact, a new book “Econocracy” encapsulating the movement seems to regurgitate every criticism of modern economics made by Austrian critics and free-market groups.

More, according to the Bloomberg editorial (above):

They argue that popular dissatisfaction with government has a lot to do with its over-reliance on concepts and ways of thinking supplied by economists, who have been



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