There is only one economics. This is known as the Austrian school. It’s referred to that because the founders were from Austria, particularly: Menger, Böhm-Bawerk, and Mises. This is contrary to what the scale covered beast’s goons will want you to believe. They’ll tell you that economics depends on time, place, industry, class, and any other nonsense they can come up with. Economics is the same for everyone in every place and at all times.
The Austrian school might agree with other schools for tactical reasons. However, there is a vital difference between economics and pseudo-economics, methodology. Economics is purely deductive. It’s very similar to logic. Action can be given a logical justification. Contrary to Austrians, the pseudo-economists will require empirical evidence. They will not provide a substantive argument. All they’ll do is try to smear it and you.
The deterioration of logic in economics is a tragedy. Logic in economics was overthrown by the dominant fashion, Keynesianism. Economics was guided by logic prior to Keynes. Many working in economics want to appear respectable, and they think this can only be done by making it an empirical science. Using a formula or graph might impress some, but those that understand economics know this is nonsense.
Attempting to bring back logic in economics is not an easy task. As mentioned before, the agreement on some issues can be tactical. Many claim to support freedom, but are statists in disguise. They might have powerful rhetoric, but they are statists once viewed beyond a superficial level. One might support one policy or another, but the devil’s in the details. It doesn’t matter which policy. They’ve suckered you into supporting statism.
Economics flows directly from our understanding of how things work. We understand that humans act. These can’t be denied. The pseudo-economists will ignore this and disguise their nonsense in formulas to get the voting base to support one policy or another, either way, they’ve got the masses to support statism. They have locked themselves and the masses into an absurd view. They’re trying to win support for the upcoming popularity contest.
References
Hans-Hermann Hoppe; Economic Science and the Austrian Method
Murray Rothbard; Economic Controversies
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