can someone explain what the New Austrian School of Economics (NASE) is advocating that clashes with the Austrian School?
Apparently they feel themselves the rightful heirs to the Austrian throne because they are the devout followers of Menger(?). Don't get me wrong, Menger's contributions to AE are extremely valuable, but economic thought was still largely in its infancy when he was alive; he left a lot of unfinished thoughts and ideas that others would later flesh out, and others simply became outdated. It seems very...odd that one would want to stand firmly behind Menger.
I really tried to keep an open mind as I read the article, but once it got to their point surrounding the Real Bills Doctrine I couldn't stand to read any more. Not surprisingly you'll find a few words written here about Antal Fekete.
what i dont understand is the position on the discount rate and what exactly is wrong with the quantity theory of money.
I don't think it counts as an entire school of thought when it consists of 1 published book and a number of DVD's of live lectures and speeches.
they said we would have an unfair fun advantage