If you are interested in the long rather acrimonious, and mostly one sided rivalry between the two major schools of free market economics, Chicago and Austrian, David Friedman's evisceration of Lew Rockwell and Murray Rothbard's attacks on his father, and particularly the comments to the post are enlightening.
The bottom line for me comes down to the fact that Chicago schoolers believe in experimentation and validation of theory, and Austrians by and large do not. It may be the case that Chicago is bad science and Austria is good religion, but that's still what they are. No offense, Austrians.
1 comment:
Logic is not a religion. You should not be commenting on the various schools of economic thought when you don't understand them.
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