Michael D. Higgins seriously claimed on RTE Radio that the heterodox Austrian School of Economics was responsible for the repeal of the Glass-Steagall Act and the fact that credit was too cheap during Ireland’s boom period. This is not only a massive factual error, but to my mind a great sign of who people like Higgins are really afraid of.
Michael D. Higgins should be forced to explain what exactly he believes the Austrian School of Economics is about, as he showed no signs that he knew this during his interview on RTE Radio.
Just to remind everyone, the only advocate of Austrian Economics in the US Congress at the time, Ron Paul, actually voted against the repeal of Glass-Steagall.
Ignoramus in the Áras « thesystemworks