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Critique of Austrian Economics

Onion Eater

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In 1930, the London School of Economics invited Prof. Hayek of Vienna to present a series of lectures. At great expense they paid him to take leave of his university position and travel all the way to London. And they did so on such short notice that he arrived barely able to speak the language he was to lecture in.

LSE must have thought that Prof. Hayek had something of great importance to say!

Unfortunately, in 1990, Austrian economics ceased to be an academic topic. DA60 and austrianecon are both younger than that, which explains why – in spite of being rabid supporters of Hayek – neither of them has the faintest idea what the content of those lectures was.

Critique of Austrian Economics From 1930 To 1990

This document will explain the content of Hayek’s lecture series to them.
 

DA60

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In 1930, the London School of Economics invited Prof. Hayek of Vienna to present a series of lectures. At great expense they paid him to take leave of his university position and travel all the way to London. And they did so on such short notice that he arrived barely able to speak the language he was to lecture in.

LSE must have thought that Prof. Hayek had something of great importance to say!

Unfortunately, in 1990, Austrian economics ceased to be an academic topic. DA60 and austrianecon are both younger than that, which explains why – in spite of being rabid supporters of Hayek – neither of them has the faintest idea what the content of those lectures was.

Critique of Austrian Economics From 1930 To 1990

This document will explain the content of Hayek’s lecture series to them.

Do not speak for me please...as you have no idea what you are talking about here.

I am not a supporter (rabid or otherwise) of Hayak. I have never read anything he has written and have no idea what he stands for (I assume it is Austrian School based)...nor do I much care.

I am NOT an Austrian Schooler (or subscribe to ANY other economic theory - just as I subscribe to no political party/movement). I simply look at the date/facts and determine what is and is not a good way to handle a given situation. If that corresponds with AS? Fine.


I posted facts/data as to what I believe and why.

All I read from you is unproven theory and insults...the safe haven of the erroneous.

Imo, people that yak on and on about theories and ignore the facts/data OR ONLY look for data that supports their theories are weak and/or macroeconomic ignoramuses...they are closed minded and cannot accept anything that does not back up their 'team's' ideas...like it is some sort of childish competition.
I personally have a ton of respect for guys like Jim Rogers and Marc Faber...but I would NEVER believe ANYTHING they said unless they could back it up with facts.
I have an economic (and political) open mind (relatively speaking). I am willing to embrace any truth so long as it is a proven truth. I have to be this way as it is my living. Unfortunately, most people are not like this. They jump on a band wagon and them defend it to ridiculous extremes - like it is some kind of sports league.

I don't have a 'team'..I have data and common sense. I am in it to make money. I only post here to teach/learn and kill time. If people do not believe what I am 'saying' and they offer no unbiased facts/data to prove their positions - I move on as they are a waste of my time.
Endlessly debating with closed minded people (like you clearly are on this) seems a galactic waste of time to me.

JP I respect (though we rarely agree) - he is usually rational, cordial and often posts data to back up his ideas. Most people around here just flail their arms around, call you an idiot (as much as the rules let them) and post theories. They take it WAAAAY too personally or are clearly just bored/angry and are venting.
This is economics, not curing cancer...ligthen up.


Good day.
 
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Onion Eater

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I posted facts/data as to what I believe and why.

From 1900??? People who know how to read saw "1930" clearly printed in the OP.

I have never read anything Hayek has written and have no idea what he stands for.

But that didn't prevent you from posting dozens of comments about Hayek, supported by data compiled in a country on the other side of the world at a time when Hayek was in diapers.

You are attempting to hijack my thread.

And now, dozens of comments later, you finally admit that you have not read the person about whom you are commenting.

Just go away. Unread illiterates who have never cracked a book are not welcome on my threads.
 
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