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Does the Austrian school of economics have solutions?
#27
(06-04-2016, 06:47 AM)Mikebert Wrote: [Galen]What you have to work with is logic and deduction from actual events and human nature.  Much of what they write can be translated in Propositional Logic and First Order Predicate Calculus which are very useful tools in proving whether a statement is true.  There is nothing mystical about such this.
[Mike]The mysticism comes in the assumptions about human nature.

Not really.  People always try to improve improve their material conditions at the lowest possible cost.  It is known that people prefer some things over other and that varies from one person to another.  This is where the concept of marginal utility comes from and it helps explain many economic matters.
Democracy is the theory that the common people know what they want, and deserve to get it good and hard. -- H.L. Mencken

If one rejects laissez faire on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action.   -- Ludwig von Mises
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RE: Researchers Finally Confirm There Is Life After Death - by Galen - 06-04-2016, 10:55 PM

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