There is no more stopping the Mises School. And when the truth finally wins out, because only what is true can also work smoothly in the long run, then the hour of the Austrian School of Economics will have come.
The true lesson from Japan is that central planners prefer to gradually nationalize the economy before even considering a moderate reduction in government size and control.
Trade agreements have thus become obsolete tokens of negotiation in larger geopolitical disputes, protectionist tools for managing and interfering with global trade flows.
British politics could potentially be very different next year, but a recent shortlist of candidates to replace Mark Carney doesn't provide much hope for Austrians.
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