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Thanks, Pete. Actually it was your talk at the Mt. Pelerin meeting that, along with the recent New York Times article, convinced me of the importance of addressing this issue. For some people the "efficient markets hypothesis" is the sum total of the case for free financial markets. It is important to show that this is not true.

This sort of article just shows how much new Austrian economics there is. And how much of this ties back to both older Austrian economics and the work of other economic schools.

Which makes me think... Does anyone have any plans to write a big treatise style book on economics like Human Action? The sort of thing that could start from the basic points.

I'm sure that professional economists wouldn't need something like that. But, it would be interesting to others. I expect that most of the people who have read Human Action are not professional economists.

That said, I suppose such a book would have to be twice as long as Human Action these days, and if it was only professional economists would have time to read it.

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