Tuesday, July 6, 2010

It's Now the "Austrian/Market Process Tradition"

For those keeping track,  I notice Peter Boettke has apparently thrown his own creation, the Co-Ordinated Problematics, under the bus. He has come up with yet a new creation, the "Austrian/market process tradition."

He writes:

I am very optimistic about the future of economic scholarship and economic education, especially for young people interested in the Austrian/market process tradition and Virginia School Political Economy.
A google search of the "Austrian/market process tradition", provides results of 3 pages and 26 results.

"Austrian economics" has 305,000 results.

9 comments:

  1. Pointlessly criticizing those who largely agree with you doesn't get one far.

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  2. but it is not pointless. it is one compromise and accomdation after another.

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  3. In what way is he compromising his economics?

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  4. He compromises it by neutering the Austrian School by attempting to rename it in a way that sounds less threatening to statist sensibilities. This may score points in DC, but not anywhere else.

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  5. Complete branding fail, after the first name change was a branding fail as well.

    It's a good thing these guys have secure jobs in academe because if they had to apply their entrepreneurial acumen in the private sector, they would be out of business in no time.

    Thank God for state subsidies to free market economists.

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  6. Will ego-driven interpretation carry Boettke into the ego-driven interventionist camp?

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  7. typing in "austrian market process" into google yields 14,400,000 results.

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  8. With the way you guys speak of Boettke it would seem Ludwig von Mises never stressed the market process. Those who are more educated know the truth.

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  9. I consider myself an educated Austrian and think that Pete is not being true to Mises' total writing by reducing Austrian economics to a market-process school. There is much more in HA than explaining the market process, and frankly, explaining the market process is hardly Mises' focus in books like The Anti-Capitalist Mentality and Planned Chaos. But hey, it's Pete's blog and he can focus on whatever aspects of AE that he wants. And who knows? Primarily emphasizing the market process-aspects of AE may make AE more acceptable in DC. Elsewhere, it looks like Austrian Lite.

    BTW Daniel, googling the full term "market process" and "Austrian" yields about 38,000 hits.

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