3min chapter

The "What is Money?" Show cover image

How to Think About the Economy with Per Bylund (WiM248)

The "What is Money?" Show

CHAPTER

Is the Austrian Economy a Machine?

Austrian economics or praxeology more generally is just humble. It's like, here's what we can know and let's deduce from there. The other school of thought is you can somehow probe the past and then make a 100 year projection of the future and then build present policy around it. And I mean, that's the very opposite of humility, right? That it's not about understanding what is going on. But instead it's sort of a system of just bodies moving around and trying to attain certain already known ends.

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