Here are some quick comments about Richard Ebeling and Geoffrey Lea’s second essay on Austrian economics in South Royalton, Vermont. All articles can be found here.
First, Richard Ebeling.
Richard tells a funny story about visiting South Royalton, VT from Sacramento by bus. Hey! I remember that Harry Watson and I had our plane fare paid for, if I remember correctly. I don’t know why they are being treated differently. The good news is that it didn’t seem to affect Richard’s mood unless he was usually friendlier and happier than he appeared.
One of my favorite parts of his second essay is remembering the late Sudha Shenoy. I remember him well. When I was 23, I had not met an Indian woman for a long time. I really enjoyed her, especially her infectious laugh. I had actually heard of his famous father, the economist BR Shenoy, and I think I had read a thing or two that he wrote. Again, if I remember correctly, he was the first economist I read who criticized the centralized system of the Indian government. It’s hard to believe that he died in 2008. It seems like recently.
Here is Sudha’s sweet tribute to the late John Blundell.
Second, Geoffrey Lea.
I think Geoffrey is right to help interpret Milton Friedman’s famous statement to the group in South Royalton that there is no such thing as Austrian economics; there are only good economies and bad economies. I didn’t take him to mean that the Austrians lacked critical insight. I took him to mean that the people gathered there should not let each other make incorrect statements or claims just because they sound Austrian. And, by the way, I didn’t see people agreeing to avoid such claims.
The above picture is by Sudha. Another photo is of my late friend Harry Watson and his wife Ida Walters in front of the South Royalton Hotel, “the scene of the crime.” I was visiting Harry and Ida in September 2015 in New Hampshire and we drove to the hotel to see how it was. Harry and Ida had met at a conference and were soon married.
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