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Look, as much as I dislike the Austrian school (it all hangs on certain premises that I don't believe are necessarily true, so I don't think it contributes much
by stephen_g 9y ago
Look, as much as I dislike the Austrian school (it all hangs on certain premises that I don't believe are necessarily true, so I don't think it contributes much to being able to understand the economy), the main problem with the comment above was that it wasn't very useful in just dropping a link with little context... With a bit of commentary or a brief summary of the article, people would have engaged with it instead of just downvoting.
- neilwilson 9y agoSo does mainstream economics. They are both wrong. At least the Austrian school admits they made the whole thing up in a religious fashion and never submit their ideas to actual science. Mainstream economics just pretends it's scientific when really the whole belief structure is a house of cards in the same way
- stephen_g 9y agoI don't disagree, I think that certain ideas from the post-Keynesian and modern monetary theory are probably the closest to actual evidence based Economics at the moment.