Anyway I found this while looking for another article. I'm not fond of a priori anything, and I have criticized Mises and Rothbard for just that, but this 'Awful Austrians' critique seems a bit wrongheaded or even deceptive. When Mises speaks of rational or selfish he means it in a very limited sense, and it's simply that humans act and thus made choices. This isn't a farfetched claim. Without a disclaimer to the reader to the effect that 'rational' does not imply 'intelligent', 'wise', 'prudent' nor any such thing you have led people to the wrong conclusion, and imo the wrong critique of Austrians.
Essentially Mises et al, derive their... (read more)
Yes deflation is normal.
Anyway I found this while looking for another article. I'm not fond of a priori anything, and I have criticized Mises and Rothbard for just that, but this 'Awful Austrians' critique seems a bit wrongheaded or even deceptive. When Mises speaks of rational or selfish he means it in a very limited sense, and it's simply that humans act and thus made choices. This isn't a farfetched claim. Without a disclaimer to the reader to the effect that 'rational' does not imply 'intelligent', 'wise', 'prudent' nor any such thing you have led people to the wrong conclusion, and imo the wrong critique of Austrians.
Essentially Mises et al, derive their... (read more)