The Austrian School of economics has been lumped in with libertarian politics in the minds of the average person. This is for good reason. Austrianism gives convincing arguments against central banking, wars, socialism, and essentially all government intervention. Austrian economics convincingly and correctly shows that the market will undisputedly most efficiently provide the subjective wants of the people. However, what the Austrian school of economics absolutely does not show is that we should pursue the subjective wants of the people. Sure, many proponents of Austrian economics - in fact the best and smartest proponents of Austrian economics - will argue that we should, but not one of them would argue that these arguments are strictly
Austrian Economics is a Value Free Science
Austrian Economics is a Value Free Science
Austrian Economics is a Value Free Science
The Austrian School of economics has been lumped in with libertarian politics in the minds of the average person. This is for good reason. Austrianism gives convincing arguments against central banking, wars, socialism, and essentially all government intervention. Austrian economics convincingly and correctly shows that the market will undisputedly most efficiently provide the subjective wants of the people. However, what the Austrian school of economics absolutely does not show is that we should pursue the subjective wants of the people. Sure, many proponents of Austrian economics - in fact the best and smartest proponents of Austrian economics - will argue that we should, but not one of them would argue that these arguments are strictly