Earlier quoted context omitted.
In fact "unlikely to favour large scale social engineering backed by force" is about the only thing Austrian economics has in common with mainstream modern economics... That's flat out wrong, I'm afraid. Proponents of modern economics are very, very willing to perform social engineering backed by force.
Depends on what you consider "social engineering" really. Even Hayek didn't think that a developed market economy providing a social safety net (and levying taxes to pay for it) counted. Khmer-Rouge style social engineering involved concluding the problem with modern economies is that people are choosing to work in industries not in the national interest, and a practical solution is to abolish all markets and use the…
Re: Japan Must Let Zombie Companies Die
#111Are you saying that I'm wrong because no modern economists have advocated policies similar to the Khmer Rouge? We're talking about a spectrum of evil here, with Pot and his cronies a way down one end.