Ms. Bachmann is best known for her conservative activism on issues like abortion, but what I want to talk about today is economics. When I ask who she reads on the subject, she responds that she admires the late Milton Friedman as well as Thomas Sowell and Walter Williams. “I’m also an Art Laffer fiend—we’re very close,” she adds. “And [Ludwig] von Mises. I love von Mises,” getting excited and rattling off some of his classics like “Human Action” and “Bureaucracy.” “When I go on vacation and I lay on the beach, I bring von Mises.”
Okay, great, so let’s see how MIses’ work has shaped her economics: (excerpts)
I ask for her explanation of the 2008 financial meltdown. "There were a lot of bad actors involved, but it started with the Community Reinvestment Act under Jimmy Carter
That’s why, if she were president, she wouldn’t renominate Ben Bernanke as Fed chairman: “I think that it’s very important to demonstrate to the American people that the Federal Reserve will have a new sheriff” to keep the dollar strong and stable.
The 3.8 million-word U.S. tax code may be irreparable, she says, a view she’s held since working as a tax attorney at the IRS 20 years ago. “I love the FAIR tax. If we were starting over from scratch, I would favor a national sales tax.”
/facepalm
I never really liked Bachmann and while it’s nice to see Mises’ name dropped sometimes it would be better if it wasn’t.
That’s why I don’t get all the appreciation for that “Dr.” Robert Murphy fellow. Not only has he read Laffer’s work, he’s worked for him! Hopefully the Mises Institute will give Murphy the boot one of these days.
Plus, she’s a politician. Why shouldn’t she be interested in policy, or at least want to appear as if she were, especially when that policy wonk is affiliated with Ronald Reagan? Consider it as shameless and likely as disingenous as her Mises plug.
As far as I know, Murphy is not a ‘fiend’ for Laffer.
It’s a different issue, and a legitimate one, to know who he is. And it is not a problem to work with him.
If there were a genuine Lafferite at the Mises Institute, I would be suspicious. And would recommend a booting. Given his principle aim: to get a maximum amount of dollars (and thus power) to the state.
It would certainly explain a few things if these “Mises-loving” Republicans are reading him at the beach, dehydrated, sunstroked and yelling at the children between every paragraph.
Haha, are you responding to my post? I wasn’t peddling.
It was a, perhaps poor, attempt at humor comparing the effort of that obviously tongue-in-cheek youtube video with Michelle Bachmann’s statements. Shrug.
Anyway, I’m not really adding anything here so it’s back to lurkerdom for me.
