Source: Cobden Centre
by Per Bylund
“Austrian economics is a scholarly tradition that consists of a body of theory that explains how an economy works. Austrian economists develop theory a priori, meaning explanations are derived logically from sound starting points (i.e., the ‘action axiom’ to Mises). This means the theory is true and can therefore be used to uncover the actual causalities behind observable phenomena. Economics is, therefore, to ‘Austrians’ a framework for understanding what we see. Other traditions in economics rely on data to formulate theory, which means their theory is a set of corroborated hypotheses.” (12/19/24)
https://www.cobdencentre.org/2024/12/bitcoiners-guide-to-austrian-economics/