Economist, Author & LR Senior Editor Clifford F. Thies on national radio podcast

They were opposed to Adam Smith and classical economics. They were proposing a new theory of economics, which was a lack of a theory called historicism... [Ely] he went to Germany and studied all sorts of German ideas. And the Germans they didn't like the Austrians [economists - Mises, Hayek], and they didn't like the English either. They developed a theory, or lack of a theory, where you would compile statistics, endless statistics... all the government needed to do was recognize what needed to be done, and to do it. It opposed what we now call the indirect effects, unintended consequences... these things resulted in horrible consequences in mid-century, and that should temper us in regard to wanting to do good. We should be at least mindful of the unintended consequences... - Dr. Thies

Econ Journal Watch radio broadcast Nov 28

The American Economic Association takes pride in celebrating its founder Richard T. Ely.

This pride is strange, given the character of Ely’s thought, which is revealed in the EJW article “Richard T. Ely: The Confederate Flag of the AEA?” by Clifford F. Thies and Ryan Daza.

In this podcast, Thies explores Ely’s ideas, values, and impact. (Ely is viewed as a founding father of modern-day left-liberal/progressive economic ideals) Excerpt:

He was a proto-Nazi... he was advocating the German agenda of racial superiority, organize society... segregation... eugenics... To redefine freedom as obedience to the state.

Clifford Thies is the Eldon R. Lindsay Chair of Free Enterprise and Professor of Economics and Finance at Shenandoah University. He is a contributor to six books and author or coauthor of more than six dozen articles in scholarly journals.

Interviewed by Lawrence H. White

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