One of the brightest stars in the free market galaxy is the work of the Hispanic American Center for Economic Research, HACER. HACER provides, among many other key services, a multilingual “Drudge Report” for free market news and opinion, crucial to nurturing the growing embrace of free markets.
HACER, uniquely, reaches millions of Hispanics. Its “goal is to promote the study of issues pertinent to the countries of Hispanic America as well as Hispanic Americans living in the United States, especially as they relate to the values of personal and economic liberty, limited government under the rule of law, and individual responsibility.” HACER is a beacon of integrity in an often murky world.
One of its current projects is providing a venue for one of the first major full length works of libertarian economics to emerge from South America, Axel Kaiser’s Intervention and Misery: 1929 – 2008. HACER describes it succinctly: “With a perspective of Austrian economics, Axel Kaiser explains the causes of the Great Depression in 1929, the crisis that started in 2008, the role of statism in the road to ruin and the key importance of the gold standard and capitalism for a prosper future.”
HACER’s executive director, Eneas Biglione, invited a foreword to Intervention and Misery from this columnist. It is entitled “Kaiser’s Postulate,” and is here reproduced to highlight how Kaiser makes an important contribution to world economic discourse.
Intervention and Misery: 1929-2008 by Axel Kaiser is an important book. Economics has become, in Kaiser’s apt word, an astrology. The more miserable grows our economies the more pretentious (as in Hayek’s 1974 Nobel speech indictment, The Pretence of Knowledge) grow professional economists.
The discourse of today’s leading mainstream economists often resembles nothing so much as the peroration of the (MGM) Wizard of Oz, from the basket of his hot air balloon:
“I, your Wizard, par adua outer, am about to embark on a hazardous and technically unexplainable journey into the outer stratosphere to confer, converse and otherwise hob-nob with my brother wizards.”