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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (798335)7/30/2014 9:32:36 PM
From: combjelly1 Recommendation

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tejek

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Oh, nonsense. Things like food and energy have increased in price. But none of those things are affected by the various quantitative easings or anything else the Fed does.

The fact of the matter is that Austrian School believes that reality has no place in the study of economics. They dismiss the scientific method and the use of empirical data. Both von Mises and Hayek claimed that Austrian School theories can never be verified by falsification or facts. As long as they are logical results of their "irrefutable axioms", they are valid.

In other words, hand-waving mumbo jumbo.It doesn't even rise to the level of voodoo.
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