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Theory is dumb when all empirical data disagrees with it. Good thing the Austrian's figured this problem out by ignoring data. It's the true hacker's way.
by fivethree 13y ago
Theory is dumb when all empirical data disagrees with it. Good thing the Austrian's figured this problem out by ignoring data. It's the true hacker's way.
- Cless 13y agoYou have to afford the Austrians some sympathy. They know, just know, that their economic theories are correct and just. However, they kept running into a problem: there's so much troublesome data that proves the opposite of their beliefs. One day, Ludwig von Mises discovered that the scientific method itself was flawed. So he created a new system to replace it by fiat: "praxeology." Problem solved - now science confirms everything Austrians believe. No need for data.
- fennecfoxen 13y agoI'm sure you have multiple studies with mountains of data which clearly demonstrate that the economy is at its most prosperous at a marginal tax rate of 100%. Oh, man, you guys are so cute. :)
- Cless 13y agoSo the only possible marginal rates are 0% and 100%. Good to know.
- fennecfoxen 13y agoClearly.
- fivethree 13y agoYou're dumb. Please read an actual book on economics not associated with Mises or his filth.