vrijdag 6 augustus 2010

What Austrians Should Do?


- Battle with historicism is not 'live'
- Battle with General Competitive Equilibrium is neither 'dead' nor 'live'
- Battle with 'formalistic historicism' hasn't been engaged, but this is the world we live in

Rules of Engagement

- The Essential tension again
=> Have to accept the standards of scientific success of the game you are playing
- Competing on the margins where comparative advantage resides
=> Work in those areas that are often omitted by your scientific peers, yet are also areas that they care about
====> become a productive input into the scientific production process of others within the profession
- commitment, yet professional engagement
=> Stick to your guns about your paradigmatic points, but do so in a way that keeps you in the conversation rather then excluded from it.

- Entrepreneurial theory of the market process
- Rationality and behavioral economics
- Monetary theory
- Capital theory
Political economy
- Self-governance

Remember Bastiat
- "the worst thing that can happen to a good cause is not to be skillfully attacked, but to be ineptly defended."

- Aspire to a higher and more sophisticated form economic argument, yet understand that simple economics is not necessarily simple-minded economics.

Geen opmerkingen: