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The problem is that the many Austrian economists here feel they are smart enough to disregard the foundations of modern economics. And thus they will use the "b
by codexon 17y ago
The problem is that the many Austrian economists here feel they are smart enough to disregard the foundations of modern economics. And thus they will use the "broken window fallacy" to refute everything.
For everyone else here that has not jumped on the Austrian bandwagon, read the following to understand why you should not be parroting a school of thought that is based on what the founders think is "logical" rather than the scientific method:
http://www.gmu.edu/depts/economics/bcaplan/whyaust.htm http://www.gmu.edu/depts/economics/bcaplan/whyaust.htm