austrian economics debunked (redpill overdose)
TRIGGER WARNING: FACTS AHEAD!!
tl;dr
>gold standard is unstable and not a viable currency, susceptible to fraud and dependent upon mining
>they are openly anti-scientific, rely on "praxeology", they are philosopher at best
>dumb ideology funded by koch brothers think tanks (CATO) to convince ignorant armchair economists
>every prediction they had is proven wrong
>they business cycle theory is wrong
>they don't use scientific method, no maths, no statistics, nothing, just speculation
>only used as political rhetoric by ron paul to rile up his gadsen-flag hillbilly voterbase
>all of peter schiff's predictions are wrong, he has been preaching doomsday for decades
>mainstream economics agrees with less than half of their policy
>literally no respects austrian economists today, abandoned as early as 1950's
>only good thing to come out of it was Hayek, who wasn't even Austrian since he rejects praxeology. He contributed to price theory, and added to the socialist calculation problem. Also his philosophy is superior and way more nuanced compared to mises/rothbard.