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Austrian economics doesn’t offer a model for society or a set of policies to implement. It’s not prescriptive; it’s descriptive. It explains how markets function, how prices emerge, and how individuals act—it doesn’t tell anyone what should be done. You can’t advocate for ‘Austrian policies’ any more than you can advocate for ‘gravity policies.’ Austrian economics isn’t a plan for governance; it’s a framework for understanding economic reality. The market isn’t something to be designed or controlled—it’s something to be understood.
The "Austrian" school used to just be called "Economics." and before that, it's just what humans did; there were no "schools of thought" The modern ideology of an economy that's **fully decoupled from nature** is one of literal fantasy, backed by all the vices in human nature.
Economista Austriaco 's avatar Economista Austriaco
I’m running a quick poll: How many of you Nostriches believe the Austrian school should be our economic model instead of Keynesianism? Repost if you’re in favor, comment if you disagree!
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S!ayer 1 year ago
There's a reason why it only exists these days in social media discussions and not in the real world.
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scl 1 year ago
Keyes wasn’t a Keynesian!
Can't agree more .. these old models have lost their utility..long back .. some youngsters can't let go romanticising the old days , without knowing the hardships of those times .. I grew up most my childhood without shoes !