Nowotny sees ‘strange irony’ in Austrian success
Central bank governor traces division between Austrian policy and Austrian School
There is a "strange irony" in the success of economic policy in Austria, according to central bank governor Ewald Nowotny, as it was achieved through tools that run "completely counter to those recommended by the Austrian School of economics".
Delivering a lecture at the Hebrew University of Jerusalem on May 31, Nowotny noted proponents of the Austrian School would disagree with the use of public intervention in post-war Austria to bring uncertainty "to sufficiently low levels" for
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