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Where have you been for the past two years? Every Austrian in the blogosphere has been touting the fact they've called the recession! Bob Murphy has made numerous predictions about the course of the recession (and put money on it). Granted, they're not quantative predictions, but they're predictions nonetheless. For example, if there were
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Ron Ron Juice.
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Consultant, how does this answer my question? As a basic matter of fact, many firms do employ, macroeconomists (amongst others). So my question is quite simple, why don't they employ Austrian economists, given that they're allegedly correct more often on average than "mainstream" economists. Please leave questions of lobbying, ethics
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Yes, Austrian economics is heterodox economics, it's probably also the most successful and interesting branch of heterodox economics (and probably that branch with most similarities to mainstream economics). I think heterodox approaches are really important, and that sometimes mainstream economists can be somewhat closed minded towards these approaches
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Austrians often say that mainstream economists are systematically wrong (and corrupt, but lets leave that out of the question for now) my question to you is quite simple. Research institutes aren't profit maximisers in the narrow sense. On the other hand, firms are usually modelled as such, now, why don't firms employ Austrian economists? Presumably
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Hi guys! I made this post and joined the forums because I'm an economics major looking for discussion on economic issue, I hope we can have many a productive debate! Let me first point out my history, I used to be a big fan of Austrian economics before I started with university, I read a lot of the big works and was seriously interest, when the