0 sats \ 2 replies \ @Undisciplined 13 May 2023 \ parent \ on: What is a good book to learn about the story of money? bitcoin
I disagree on two points.
  1. "it's all about control": The point of scientific theories is to describe reality. Keynesian theories (or more accurately, mainstream economics) have actually been proven false, and not only by Austrians. Those views are opportunistically pushed by those in power, because they justify what the ruling class were going to do anyway.
  2. "they have been proven wrong": This implies a rigorous logical demonstration of an inconsistency in Austrian Theory that I'm unaware of and that you haven't provided.
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21 sats \ 1 reply \ @muteness11 13 May 2023
u disagree as an opinion which isnt my point .... the main point is that the market has dominated how we function today despite what you think is proven false and you justify it by POWER which i agree with.
Im no economist and cant claim to be an expert ... but let me ask you this: why the Austrians have lost their ground?
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0 sats \ 0 replies \ @Undisciplined 13 May 2023
As I said, Keynesianism is cynically adopted by politicians as a rationale for expanding state action. There is strong demand for academics to provide politicians with rationales for what they want to do, so there are people who do it. Austrian Economics correctly describes the state as a drain on society, so politicians don't support Austrian scholars.
I also don't know that it's correct to describe the Austrian School as having lost ground. There is more work being done and more scholars in the Austrian School than ever before, as well as more people studying it. There may have been a very brief period in the late 19th century when it was more prominent amongst academics.
Further, my disagreement is not simply over an opinion. You made a strong claim that Austrian Economics has been proven wrong. As it is a school of economic philosophy that rigorously deduces conclusions from first principles, such a proof could only come in two forms: 1) a demonstration of logical inconsistency, or 2) a clear example of an Austrian theory being violated in the real world. I'm unaware of either existing, as you seem to be.
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