This paragraph explains why I believe the Austrian School
Economics is fundamentally superior to Chicago School Economic in terms of pure
economic theory:
“It appears that Levinovitz hasn’t quite grasped the full consequences of
the argument he has espoused; namely that because economics models are mostly
useless and cannot predict the future with any sort of certainty, then
centrally directing an economy would be effectively like flying blind. The
failure of economic models to pan out is simply more proof of the pretense of
knowledge. And it’s not more knowledge that we need, it’s more humility. The
humility to know that ‘wise’ bureaucrats are not the best at directing a market
— market participants themselves are.”
Note I am not
advocating against studying the world through the lens of Chicago School
Economics. Instead, I am adamant that we
shouldn’t try to drive the economy with this information.
Free Markets > Public Policy
This is why Antifa
is just as bad as neo-Nazis.
“No, little Jack Harris, you just need to stop
associating with criminals and thugs.”
Western Wars
Have killed 4 million Muslims since 1990. I can’t possibly understand why
Muslims sometimes try to kill Americans.
Maybe we should
stop being thugs and criminals …
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