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 peop... (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 peop... (read more)