Austrian economics is accused of being unscientific because it does not derive economic laws using the methods of the natural sciences. Does that make the Austrians dogmatic and unreasonable? We tackle this question today.
About the Guest
Jeffrey M. Herbener is chairman of the department of economics at Grove City College and associate editor of the Quarterly Journal of Austrian Economics. He has also produced economics courses for Liberty Classroom.
“Why I Am Not an Austrian Economist,” by Bryan Caplan
“Economic Science and the Austrian Method” (PDF) by Hans-Hermann Hoppe
“Praxeology and Understanding: An Analysis of the Controversy in Austrian Economics,” by George Selgin
“Realism and Abstraction in Economics: Aristotle and Mises Versus Friedman” (PDF) by Roderick T. Long
Get Jeff’s two courses, plus 12 more, at LibertyClassroom.com, where you can learn the history and economics they didn’t teach you. Use coupon code SHOW (in all caps) for a special listener discount!
Ep. 513 Can We Decide on a Main Problem with Socialism? Also: Why the Austrians Are Right About Monopoly
Ep. 488 Welfare Economics: Rothbard Was Right
Ep. 456 Monopoly Is Everywhere, Say Mainstream Economists; Austrians Roll Eyes
Ep. 403 Austrian Microeconomics: Where the Critics Go Wrong
Ep. 269 End the Fed, Then What?
Ep. 257 Austrian Economics vs. a Mainstream Text
Ep. 172 The Fallacies of GDP
Ep. 130 The Fallacies of ‘Public Goods’
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