I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???

Wednesday, 4 November 2009

A Critique of the Austrian School of Economics

The Austrian School does not believe that macroeconomic truth can be found via the scientific method. They believe that economics is not physics but rather the study of human action.

When all humans are chipped so that their behaviour can be measured, predicted and controlled the Austrian School will be redundant. Until then it will still be the best set of tools for analysing the macro-economy.

Check out the rest of this blog here.
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