The other day David Friedman created a bit of a stir by questioning the uniqueness of Austrian economics:
Yesterday I spoke at a Students for Liberty Conference. Before the talk I had a conversation with several students who identified themselves as supporters of the Austrian school of economics. I asked them if they could explain what that meant by identifying a proposition in economics that almost all Austrian economists and almost no non-Austrian economists would agree with.
One response was along the lines of “Austrians believe that one can derive economic conclusions from convincing axioms without adding any empirical facts.” So I asked them to give me an example of such a conclusion, of a statement that one could test, observe the truth or falsity of in reality, that could be derived in that way.
I now put the same two questions to any readers of this blog who consider…
View original post 606 more words
Recent Comments