4 ms·
Austrian economics also rejects empirical assesment of its claims. Instead, universal thruths are derived "logically" (formal logic banned though) from "obvious
by jampekka 2y ago
Austrian economics also rejects empirical assesment of its claims. Instead, universal thruths are derived "logically" (formal logic banned though) from "obviously true" axioms using a method called praxeology.
It seems a lot like Scientology: the more you learn about it, the more bizarre it gets. And of course it's used to extract a lot of money for few benefactors.
- naasking 2y agoUnlike scientology, Austrian economics made some important contributions to mainstream economic understanding.
- triceratops 2y agoTo be fair, Scientology never claimed to make any predictions about economics. (AFAIK, I don't know any Scientology)