Reply To: Methodology: Austrian School vs. Neoclassical/Chicago School


Thanks Dr. Herbener for the advice on how to best proceed and be productive in this type of back/forth.

I agree that his view is pretty typical for neoclassicals to hold that the body of knowledge they call “economics” can only be “if/then” propositions which are contingent and non-necessary. Austrians disagree with this.

So, I’ll be sure to point out we DO disagree and hold different positions on the specific dichotomoy between theory (praxeology) and history/forecasting (thymology & entrepreneurship)

Much appreciated!