who misunderstand basic facts, that's why they disagree with me". It's driving me batty. 2/2
On the flip-side, Europe and the ECB went much more Austrian (austerity, less monetary stimulus) predicting 1/
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a more robust recovery. Didn't happen. 2/2
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So sure, maybe there's some magic opportunity cost that Austrians can't predict, and maybe the US recovery 1/
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"could have been better", but at this point it's just feeling based on unfalsifiable Austrian axioms. 2/2
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the axioms are not _empirically_ falsifiable but they are subject to logical scrutiny, as are foundations of Keynes
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some Austrians have made false predictions, but Krugman has as wellhttp://www.theamericanconservative.com/articles/heads-krugman-wins-tails-austerity-loses/ …
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which brings me back to my original point, specific historic episodes are insufficient to develop general theory
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and either side can tell an ex-post story to corroborate their existing beliefs
End of conversation
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