3 ms·
Austrian economists will beg to differ. The problem with those studies is that it's cherry-picking economists. Who cares about concensus? The measuring stick s
by altoz 13y ago
Austrian economists will beg to differ.
The problem with those studies is that it's cherry-picking economists. Who cares about concensus? The measuring stick should be how correctly they can predict future events.
- jbooth 13y agoYeah, but Austrian economists are a tiny minority, and were much tinier before January 2009. The political/media system gives them 50% weight, not the success, or lack thereof, of their ideas.
- _delirium 13y agoI wouldn't say Austrians as a whole disagree, though some of them certainly do. If you look at F.A. Hayek's expressed positions, he agrees with a reasonable number of those listed as consensus above. Yes to free trade, yes to public healthcare, yes to taxing pollution (rather than regulating it), no to price floors/ceilings, etc. Monetary policy and how to manage the business cycle are some of the points of strong disagreement, though.