So I’m watching an episode of Charlie Rose from 1993, starring Larry Kudlow, Jim Rogers, and some other guy, when Kudlow starts explaining that no one ould have avoided a recession in the early 1980s, whether Democrat, Republican, Keynesian, Marxist, … or Austrian. Charlie Rose interjects, “Austrian?”, to which Kudlow responds, “It’s an important school.” Link: http://video.google.com/videoplay?docid=8512784159084345867# skip to 14 minutes.
Which raises a question: How well known was the Austrian school in the early 1990s and in which circles? Also, who the were the prominent Austrians at that time?
It must have been somewhat well known, because Rothbard once demonstrated that one minor Associated Foreign Press reporter plagiarized one of the Auburn academy’s published articles word for word.
The way Rose responds it seems like he doesn’t know what “Austrian” meant…and then the way he laughs when Kudlow says it’s an important school makes it seem like he thinks Kudlow was making a joke or talking about the country. Gotta love Rogers getting in there and arguing against needing more tax revenue.
Two things:
How fricking great is this…you’re able to find an episode of a show from 20 years ago, watch the whole thing at your leisure, and then come onto a forum ask a question about it and have people from all over the world be able to view the same episode and reply to you, all virtually free and instantaneous. How badass is this?
I didn’t even recognize Kudlow. The years have not been kind to that poor bastard. He seriously looks like closer to 40 years have passed as opposed to 20. Rogers hasn’t done too too bad…but it’s really amazing how quickly you fall apart later in life. Let’s hope treatment for this improves drastically. More capitalism please.
It was several economists (Jevons, Walras and Gossen) beside Menger, who were involved in the marginal revolution, not to mention others who had marginal aspects in their works already before as well. So this is a bit of an exaggerated statement.