No, seriously, why is Gary Becker classified as an Austrian? He's famous for applying economic models to human behaviour, and is associated with the Chicago School, which at least attempted to apply empiricism.
We pissed someone off
- Everyone seems to be missing the point behind Austrian economics. So here it is in a (scientific!) nutshell: the entire worth of a scientific theory is in its ability to predict. Since it is easy to demonstrate that current mathematical economic models are terrible at predicting, it is THEY that are unscientific. They have been demonstrated, not to be false per se, but to be insufficient to the job.
- That is the basis of Austrian theory. Nothing more. It is no more "unscientific" than the models (which they originally helped to create!) which do not predict.
More facts, please
If I started reading this article knowing nothing about Austrian economics, I would finish reading knowing nothing except that somebody strongly disagrees without it. I don’t gain any knowledge of the thing they disagree with. It’s a very well written rant. That’s totally cool, but, without more facts about the Austrian school, totally uninformative. Ordinarily, I’d dive in, but changing such a passionate rant seems like a pain, likely to be not worth it. Am I wrong? 2601:285:8380:1AC8:B407:43EA:8197:2A2E (talk) 14:07, 12 December 2020 (UTC)
- You didn't learn everything there is to know at "they reject empirical evidence"? ☭Comrade GC☭Ministry of Praise 14:15, 12 December 2020 (UTC)
I think we should add the category 'classical liberalism' to this article.