I'd call it an axiomatic system rather than a religion. Austrians distinguish between theory and history (pretty bad name). Theory is basically the action axiom

I'd call it an axiomatic system rather than a religion. Austrians distinguish between theory and history (pretty bad name). Theory is basically the action axiom and what you can derive from it and history is the application of this theory to the analysis of the empirical world. Explaining the great depression through the lense of the theoretical framework would be an example of history for example. As far as I know there's nothing wrong with trying to predict the future through this theoretical framework but you might be wrong. This is basically Austrian entrepreneurship (sort of forward oriented history). The way I see it from a science theoretical POV is that the action axiom and what you derive is basically the "hard core" of the research program (at least Lakatos makes the most sense for me with regards to science theory).