By Al Coryell
PoHo correspondent
In Part 1, Part 2 and Part 3 of this series of articles we have learned that, at present, there are two important competing economic philosophies. There is the Keynesian philosophy, practiced by the Federal Reserve, which purports to centrally control economic stability through price and monetary manipulation — and the Austrian School philosophy, which supports a hands-off approach to economic management contending that a truly free market will self-correct if left alone to do so. In this final installment of the series, we will ask "Can the Austrians possibly overcome the overwhelming power of the Federal Reserve and return the U.S. to a free market, sound money economic system?" Both sides are locked in a battle which will forever change the face of America, and much of the world, regardless of who wins…
This article appears in Dec 2-8, 2000.