The Austrian School of Economics in the 21st Century
“From Adam Smith we learned that a farmer by specializing did not himself need to be baker, butcher and brewer. Specialization made products better and less expensive. The “extent of the market” increased, enabled by better and faster transportation. While in other areas central planning has been ruled out, in traffic it has become widely accepted. Today we see forces trying to regulate and limit free mobility of goods and services.” Presentation by Anders Ydstedt at ”The Austrian School of Economics in the 21st Century” at Oesterreichische Nationalbank, OeNB, Vienna, Austria.