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Please don't call market extremists Austrian. We, the people of Austria, want nothing to do with them and their philosophy is seen as crazy fringe theories here
by malermeister 3y ago
Please don't call market extremists Austrian. We, the people of Austria, want nothing to do with them and their philosophy is seen as crazy fringe theories here.
- freedomben 3y agoPoint taken, although it's an extremely common/well known term here because it was Austrian economics (such as Mises) that formed the basis of it. Can you suggest a better term? How would you feel about "Austrian Economics"? I once tried "Mises economics" but that caused a lot of confusion.
- malermeister 3y agoEconomics in Austria are still strongly influenced by the legacy of Austromarxism [0] (the city of Vienna is the largest landlord in Europe) and, more recently, the Socialists under Bruno Kreisky [1], who built the modern welfare state. Given this reality of economics in Austria, the term "Austrian Economics" also seems like a misnomer. Maybe something like "Austrian Marginalism" would be clearer? [0] https://en.wikipedia.org/wiki/Austromarxism https://en.wikipedia.org/wiki/Austromarxism [1] https://en.wikipedia.org/wiki/Bruno_Kreisky https://en.wikipedia.org/wiki/Bruno_Kreisky