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Podcast: Debunking Economics - the podcast
Episode: What it means to be Austrian
Description: So, what does it mean to be Austrian? And we are not talking about wearing Lederhosen every weekend, going on long hikes through the mountains and eating schnitzel. Instead, the focus in this podcast is on the Austrian school of economics. They are two very different things, The country has moved on, but the theory remains. This week Phil and Steve look at the principles of Austrian economics – what they got right (partially) and what they got wrong. They contrast it with neoclassical economics, exploring the significance of equilibrium and innovation in capitalism. The discussion also touches on the concept of...