A Friend Asked “but I’m not aware of any inadequacy in Austrian economics.”

I do not believe there is any inadequacy in Austrian economics or in classical liberalism but these are traditions that continue to grow, both in importance and in content.

Austrian economics is not something static, which is why the entrepreneurial spirit of alertness is important at all times. Not everyone is at the same ‘place’ as they endeavor to immerse themselves in study. Here are a few questions that may spur serious students along this line of deeper investigation: in the human mind there is no artificial boundary between ethics and economics despite the fact that the empirical tendencies of ‘science’ over the last couple of centuries have created this myth; and, a means like peace can also be an ends and so the artificial boundaries assumed to exist between ends and means cannot move the science of human action forward or at least not as far forward as a scientific foundation that does not require this artificial boundary; and, why could religion – as in the case of the Spanish Scholastics – be a key factor in the advancement of classical liberalism in the past but for some supposedly ‘scientific’ reason we are now to think that it cannot? 

Twitter @DivineEconomy

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