Austrian School of Economics

The Austrian School of Economics is gaining popularity because it accurately predicts market cycles, despite suppression by mainstream Keynesian economists and politicians, who desire political and financial power.

http://www.thenewamerican.com/index.php/economy/economics-mainmenu-44/3323-austrian-economics-rising

Austrian school economists understand the common-sense principle that nations – like people – build wealth from savings and investment and not from borrowing and spending.

Arguing that big-government arguments for intervention in the marketplace would not really replace laissez-faire chaos, von Mises’ logical critique of state planning was withering against socialism and fascism/Keynesianism. Von Mises wrote in Human Action, “The alternative is not plan or no plan. The question is whose planning? Should each member of society plan for himself, or should a benevolent government alone plan for them all? The issue is freedom versus government omnipotence.” Von Mises explains that “laissez faire does not mean: Let soulless mechanical forces operate. It means: Let each individual choose how he wants to cooperate in the social division of labor; let the consumers determine what the entrepreneurs should produce. Planning means: Let the government alone choose and enforce its rulings by the apparatus of coercion and compulsion.”