this isn't what happens. Businesses shut down when they face a period of low demand (and lose money) 1/pic.twitter.com/2wQiyauwrA
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"could have been better", but at this point it's just feeling based on unfalsifiable Austrian axioms. 2/2
the axioms are not _empirically_ falsifiable but they are subject to logical scrutiny, as are foundations of Keynes
some Austrians have made false predictions, but Krugman has as wellhttp://www.theamericanconservative.com/articles/heads-krugman-wins-tails-austerity-loses/ …
which brings me back to my original point, specific historic episodes are insufficient to develop general theory
and either side can tell an ex-post story to corroborate their existing beliefs
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