Austrian School of Economics
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Description: An essay arguing that the "Austrian School is a classic example of crank science."
Myth: The Austrian School of Economics is "apart and above" mainstream economics. Fact: The Austrian School is a classic example of crank science. The Austrian School of Economics is a tiny group of libertarians at war with mainstream economics. They reject even the scientific method that mainstream economists use, preferring to use instead a pre-scientific approach that shuns real-world data and is based purely on logical assumptions. But this is the very method that thousands of religions use when they argue their opposing beliefs, and the fact that the world has thousands of religions proves the fallibility of this approach. Academia has generally ignored the Austrian School, and the only reason it continues to exist is because it is financed by wealthy business donors on the far right. The movement does not exist on its own scholarly merits.
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| Page title: | Austrian School of Economics |
| Keywords: | Liberalism, liberal, Austrian school of economics, mainstream, scientific method, statistics, methodological individualism, subjectivism, crank, science, starting assumptions, market process, monopolies, gold standard, business cycle, history, politics |
| Description: | A collection of liberal essays critiquing the Austrian School of Economics. |
| IP-address: | 71.19.157.78 |
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| NS | Name Server: NS1.NETFIRMS.COM Name Server: NS2.NETFIRMS.COM |
| WHOIS | Status: clientDeleteProhibited Status: clientTransferProhibited Status: clientUpdateProhibited |
| Date | Creation Date: 21-jan-1997 Expiration Date: 22-jan-2015 |