Four Horsemen of the Teapocalypse

'The Four Horsemen of the Teapocalypse'

Economist Brad DeLong has an interesting take on the Austrian provenance of austerity politics (depression as a bracing constitutional, destructive yet invigoratingly creative) which strangely ends up making monetarism look sane.

Interesting piece nevertheless - I especially like the insights into the role of Andrew Mellon during the Great Depression, the same Mellon who famously remarked that in a depression property returns to its rightful owners - I meditate upon this in light of the current confusion around property rights caused by dodgy title transfers in the mortgage securitization process. Trespass returns to the non-owners.