Here are some quick comments on Richard Ebeling and Geoffrey Lea’s second essays on Austrian economics in South Royalton, Vermont. All the essays can be found here.
First, Richard Ebeling.
Richard tells a hilarious story about his bus ride from Sacramento to South Royalton, Vermont. Wow! I remember Harry Watson and I had paid for our plane ticket, if I recall correctly. I don’t know why this different treatment was meted out. The good news is that it didn’t seem to affect Richard’s attitude negatively, unless he was normally even friendlier and more excited than he appeared.
One of my favourite passages in his second essay is his recollection of the late Sudha Shenoy. I remember her well. At 23, I had never had any close contact with an Indian woman. I loved her immensely, especially her infectious laugh. I had heard of her famous father, the economist BR Shenoy, and I think I had read one or two articles by him. Again, if I recall correctly, he was the first economist I read who criticized the central planning of the Indian government. It is hard to believe that she died in 2008. It seems much more recent.
Here is a very sweet one Sudha’s memory by the late John Blundell.
Second, Geoffrey Lea.
I think Geoffrey is right to charitably interpret Milton Friedman’s famous statement to the South Royalton group that there is no such thing as Austrian economics; there are only good economics and bad economics. I don’t think he means that the Austrians didn’t have important ideas. I think he means that the people gathered there should not allow themselves to make statements or assertions that are incorrect simply because they sound Austrian. And, by the way, I didn’t see the people there allowing themselves to make such assertions.
The photo above is of Sudha. The other photo shows my late friend Harry Watson and his wife Ida Walters in front of the South Royalton Hotel, the “crime scene.” I was visiting Harry and Ida in September 2015 in New Hampshire and we went to the hotel to see what it looked like. Harry and Ida had met at the conference and were married shortly after.
