The “herd mentality” is exactly what is wanted in most universities. The professors know very well which side their bread is buttered on. They are not about to buck the system and put themselves out of work. Mises was blacklisted from serious university work because he would not compromise on socialism. The vast majority of university professors DO compromise all the time.

What we are up against is monopolies of information which are, thankfully, beginning to break down because of the Internet Renaissance. The price for being wrong is now going up and the consequences will be more and more painful for them as markets of information spontaneously arise to do their work for the masses.

Can you point out to any paper or book where it is described what you claim? I would very much like to read it.

Thank you in advance.

I have read that Friedman dismissed Hayek’s “Pure Theory of Capital” for being incomprehensible. It appears that Austrian theory is too difficult for many in mainstream econ.

Of course, Mises said Friedman was not an economist but merely a statistician. I think Mises was correct.

Mainstream economists are so obsessed with statistics and positive science that they don’t mind at all committing many logical fallacies. Logic means nothing to them.

As for their anger – they’re caught with their intellectual trousers down. They’re wrong. And everyone now knows it. Even those who are too young to remember the 1970s. They’re desperate. It’s like my French socialist mother in law watching European socialism fall apart – - when an ideology to which you’ve clung for decades is tried and implodes, it can be painful. At least I would imagine so, never having experienced this myself.