The chapter explores the limitations of relying solely on objective facts, using the analogy of analyzing a novel based on statistical measures without considering its deeper meaning. It emphasizes the significance of also evaluating qualitative aspects rather than just measurable data.
Pete Boettke, of George Mason University, talks with EconTalk host Russ Roberts about the origins and tenets of Austrian economics. This is a wonderful introduction to how the so-called Austrian economists look at the world and how they continue to influence economics today.