The Epistemology of Mathematical Economics and the Austrian Critique

Table of Contents Introduction Reflections on Epistemology The Epistemology of Mathematics From Physics to Economics Economic Thought Before Econometrics The Origins of Econometrics William Petty Leon Walras Methodenstreite: The Austrians vs. the Prussian Historical School Caveats in Economic Statistics GDP CPI Other metrics Causation or Correlation? Are Economic Equations Really Necessary? What is the Purpose … Continue reading The Epistemology of Mathematical Economics and the Austrian Critique

The Austrian Theory of the Business Cycle

Whence comes the boom in economic development - and why does it tend to eventually turn into a bust? Recessions like the Great Depression (1930s) and the Great Recession (2008) have frequently been pointed to as central flaws in a market free economy. Without showing direct causal relationships, deregulation is claimed to be the great … Continue reading The Austrian Theory of the Business Cycle