Monday, May 19, 2014

For years many of us suspected that Austrian economists were just peddling bullshit... now we have proof!

HT the Adam Smith Institute and Lars Christensen, on facebook

The accompanying description:

"Ron Kitching’s photo of F.A. Hayek and Kitching’s bull Inflation (it kept on growing) is 37 years old.

Hayek was visiting Australia and staying at the Kitchings' farm on the Atherton Tablelands. Ron wanted the famous economist to climb a stepladder onto Inflation’s back to be photographed as “Hayek’s on Top Of Inflation.” Mrs Kitching objected. She wouldn’t allow him to risk the safety of their 76 year old visitor.

Nevertheless Hayek still wanted to meet the bull. Next day Ron took him down the paddock and took several pictures of him and the bull when another idea popped into Ron's head and he quietly mentioned it to him. He was delighted to have a bit of fun.

The caption? "Hayek’s Got Inflation By The Balls.""


  1. This is a metaphor for how the economy is organic, not a machine.

  2. Hayek's famous monograph was originally entitled "Bull by the balls" but the publisher insisted on "Tiger by the Tail."

  3. Now you just need a shot of Keynes giving a grizzly a hand job.

  4. How can we fight about Piketty if you just keep this bull picture up?!


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