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I agree with you and this is why Austrian economics disregards macroeconomics completely.

• yen223 13y ago
  Doesn't Austrian economics also disregard reality? http://econfaculty.gmu.edu/bcaplan/whyaust.htm http://econfaculty.gmu.edu/bcaplan/whyaust.htm
  • snitko 13y ago
    I've read this article sometime ago and what struck me while I was reading it, is that the author actually describes WHY Austrian economics is superior and explains it quite good. I couldn't find an actual reason why he decided to not be an Austrian anymore. tl;dr: of that article is like "So this is what Austrian economics is all about, but I don't subscribe to that point of view anymore".
    • yen223 13y ago
      I definitely read it differently. The author cited too many examples of how Austrian economic theory doesn't actually jive with empirical evidence.