It seems to me that the whole thread is littered with academics who adhere to intellectualism vs realism. Austrian economics is about the latter. One of the best (but overlooked) books to read (fundamental stuff—which is what most academics fail to take into account) is Hazlitt’s “Economics in one lesson”. It’s essentially Austrian school 101 and I think most of you in here need to retake the course. The Austrians were always right and now it WILL become evident. Austrian economics is existential economics (in a sense), and that fact puts them apart from traditional economic theory that’s model-based. That’s a huge difference right there and very much in line with the most modern work on perceptual reality (see, for example, Don Hoffman’s work). That’s a huge deal that points to the incredible insight that the Austrian school is based upon.
It seems to me that the whole thread is littered with academics who adhere to intellectualism vs realism. Austrian economics is about the latter. One of the best (but overlooked) books to read (fundamental stuff—which is what most academics fail to take into account) is Hazlitt’s “Economics in one lesson”. It’s essentially Austrian school 101 and I think most of you in here need to retake the course. The Austrians were always right and now it WILL become evident. Austrian economics is existential economics (in a sense), and that fact puts them apart from traditional economic theory that’s model-based. That’s a huge difference right there and very much in line with the most modern work on perceptual reality (see, for example, Don Hoffman’s work). That’s a huge deal that points to the incredible insight that the Austrian school is based upon.
~A participating agent of the market…