[quote]orion wrote:
DrSkeptix wrote:
orion wrote:
DrSkeptix wrote:
Now, a word on ideology.
Mr. Schiff has made a name and a living in investing, in valuation of assets. I would not detract from that, but we live in society, but society has an interest, not in valuation alone, but in value. For those who adhere strictly to the ideology of von Mises, the entire sum of human experience should be encompassed by questions of exchange only. They exclude the notion of government, welfare and other mechanisms–i.e., insurance–from rational thought and behavior. Ok, then…they exclude themselves as well from the discussion of policy.
Nonsense,
defined:
Since the nature of Austrian economics is axiomatic and deductive it is actually exactly like that.
…
You are an ideologue and this is your ideology.
It is the nature of ideology to propose unassailable “axioms” as though they alone can explain all human behavior. The ideologue discards the value of other opinion.
My point was clear: valuation has a use,but it is just one tool,and not the only tool. Your ideology is not the only channel by which we can legitimately evaluate policy.
And if you have a problem with that, take it up with you professors.
There is no ideology.
Either the axioms are true or they are not.
Either the deductions are logically sound or they are not.
You can attack either and if you are successful that will be a great day for Austrian economics.
You can choose to do neither and claim that it is all ideological and some people have actually done that with mathematics.
I think it is obvious why they did not gain too much intellectual ground.
So no, while it is true that most Austrians are also libertarians that does not necessarily follow. It is just a natural consequence of understanding it and caring for your fellow human beings.
As to the article you posted:
So he claims that markets do not follow some idealized models that are the working stock of classical economists.
You might understand that if someone claims that the ideal models of the Chicago school are flawed I have no real problem with that, nor with the claim that a relationship with a doctor is unique.
Since the Austrians usually see all economic transactions as unique I agree and yet do not see how it naturally follows that that makes the uniqueness of these specific relationships unique.
Even so, I trust that the market will be more efficient at adapting itself to ever changing demands than a bureaucracy.[/quote]
Spoken like a true ideologue!