Bad Research: Yglesias Edition

Matthew Yglesias, “[S]o nobody much cared about Austrian economics outside of crank circles.”

This may be true to someone as ignorant of the history of economic thought as Yglesias, but it is not true when looking at the contributions of Austrian economists through a more objective and informed lens.  More over, Yglesias’ claim is not true when you actually look at who adheres to the Austrian School: George Selgin, Lawrence White, Steven Horwitz, Leland Yeager (with some aspects of Austrian theory, at least), Ludwig Lachmann, Israel Kirzner, et cetera.  None of these names are those of “cranks;” they were all Austrians before the most recent financial crisis.

Yglesias’ comment is the product of someone with a very insular intellectual perspective.  His words ring the same as when others accuse certain economists of writing on what they write for the sake of justifying government (as opposed to writing from their own legitimate and honest beliefs).