21 sats \ 1 reply \ @Undisciplined OP 13 Nov \ parent \ on: Wanted: Critics of Austrian Economics econ
I should have had the caveat "when appropriate" for the ones below being consistent with the ones above.
Where I think this hierarchy helps is that it limits the range of interpretations of results from the weaker methodologies. Instead of thinking a regression overturned some foundational economic principle, the researcher would instead try to figure out what other mechanism might be at play.
I mean, the types of questions that people are answering these days with their econometric tools are so small-scale compared to what Austrians like to talk about, that it's not even necessarily a methodological gap it's also simply a difference in the scope of analysis.
I suppose I'm coming at it from a microeconomist's perspective. I think I'd agree with the Austrians more in their critique of math/stats when it comes to macro. (As you can tell, I'm not really a fan of modern macro.)
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