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This article didn't need to be written. No serious economist is an 'Austrian' economist. No one identifies themselves by the labels that modern day 'Austrians
by Mikeb85 8y ago
This article didn't need to be written. No serious economist is an 'Austrian' economist. No one identifies themselves by the labels that modern day 'Austrians' argue about. The field has moved on. It's all about quantitative modelling, maths, observation, etc... Past Austrian school economists have contributed things, but the modern day 'Austrians' are basically neckbeards who argue on the internet about Hayek and Mises and contribute nothing new to the field.
- aetherson 8y agoNote that the article is from approximately 20 years ago.
- notahacker 8y agoIt's also probably increased in relevance since then, given that Mises-style Austrian economics has been much more successful in establishing itself as an important theory on the internet than it ever has been in academia. Above all, it's a well-reasoned piece from someone who was sympathetic and proximate to leading contemporary Austrian economists.
- ardy42 8y agoI think it did need to be written, but it's perhaps more useful now to laymen than professional economists. I've only been vaguely aware of "Austrian" economics, and loosely associated it with the kind of strident internet ideologues you mentioned. This article has given me a clearer view that's free of the distortions that I might have otherwise had to filter out with effort.