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>they don't have a track record of anything resembling accuracy, predictions, or theory that works Neither does academic economics; there's absolutely zero con
by logicchains 5y ago
>they don't have a track record of anything resembling accuracy, predictions, or theory that works
Neither does academic economics; there's absolutely zero consequence for an economist who repeatedly makes incorrect predictions. The ones who actually can make predictions with statistically significant accuracy work as quants or traders, not economists, as anyone who can make accurate predictions of the future can easily make six to seven figures doing so.
That aside, the fundamental predictions in microeconomics between Austrian and neoclassical economics are pretty similar, so you can't say Austrian theory doesn't work without also saying foundational neoclassical microeconomics doesn't work.