21 sats \ 2 replies \ @Undisciplined 9 Jan \ parent \ on: New Thinking in Austrian Economics econ
Deductive reasoning from first principles is not "opining from an armchair". Logic can be checked for consistency.
The reason I say it's more rigorous is that they make fewer unrealistic assumptions about preferences than most mainstream economists do, which makes their findings more general.
I subjectively view the generalizability of results as less valuable than the precision of results.
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That's fine, you do you.
I think there's a lack of clarity on how I'm using "rigorous", because I mean it in the sense of developing theory.
My work is predominantly empirical and "rigorous" means something entirely different in that context. Many economic questions are inherently empirical and Austrians at best could give directional answers from theory alone.
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