3min chapter

Free Thoughts cover image

Real Economics (with Peter Boettke)

Free Thoughts

CHAPTER

Austrian Methodology

The problem wi a lot of standard economics is that they flipped it. So in the background is the story they might tell a student about market clearing and a principals class. But when they write down the system of equation, there is no process of market clearing. And so or, you know, how is it that information is ired? Well, who cares? What matters is that there's an informational threshold. There's an information space that they have to have to be able to have the precondition of the optimality conditions.

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