Ok, we need not to waste a lot of time on this.
Noah Smith has written his worst post ever. By appealing to straw man arguments, he shows that he is unable to (or maybe he doesn't want to) make a basic distinction between stereotype "internet austrians" people and serious austrian economists.
You can see his "arguments" destroyed here, here, here, and here.
Is it possible that so basic straw man fallacies are coming from a PhD guy? Yes, it is possible.