Critique of Fiat Economics and Advocacy for Austrian School Principles

Fiat economics rely on a false sense of numerical superiority, using graphs and models as a facade of authority without real-world validation. Unlike hard sciences where laws are invalidated if experiments prove otherwise, fiat economics lack such accountability. The supposed laws in economics fail under real-world scenarios like stagflation in the 70s, showcasing the flaws in the system. Central planners continue to base economic decisions on invalidated laws, leading to irrational assumptions and misguided policies. Austrian school principles, appealing to many, emphasize understanding human behavior over numerical mysticism, criticizing the dehumanizing approach of fiat economists who treat individuals as mere numbers. The persisting illogical foundation of fiat economics raises doubts about its long-term sustainability.