Yes, Austrians acknowledge the usefulness of empiricism for doing economic history and demonstrating how economic principles played out in the past.
I think they do themselves a disservice in seeming to oppose the use of empirics at all, when what they oppose is the use of empirics for proving theory.
Yes, Austrians acknowledge the usefulness of empiricism for doing economic history and demonstrating how economic principles played out in the past.
I think they do themselves a disservice in seeming to oppose the use of empirics at all, when what they oppose is the use of empirics for proving theory.