Austrian School: Difference between revisions

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|title=[[File:Austrobert.png]] '''Austrian School''' [[File:AustrianSchool.png]]

|image= AustrianLibertarianism2.png

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[[File:UtoLib.png]] Utopic Liberalism ([[File:Mises.png]] Misesianism, [[File:PNL(France).png]] HenryClock de LesquenCrossroad)<br>

[[File:Nihclib.png]] Nihilist Classical Liberalism (by Santiago Armesilla)<br>

[[File:AntiNazism.png]] Anti-Nazism<br>[[File:Antisoc.png]] Anti-Socialism<br>

[[File:IndivEnlightenment.png]] Individualism[[Enlightenment Thought]]<br>

*[[File:Ethego.png]] [[mh:philosophyball:Ethical Egoism|Ethical Egoism]]

*[[File:MaterialismLocal.png]] Materialism[[Localism]]

*[[File:Mediastocracy_flair.png]] [[Mediacracy|Henry Hazlitt]] (1894-1993) [[File:Cball-US.png]] {{PBW|USAball|USA}}

*[[File:Murray_N_Rothbard.png]] [[Anarcho-Capitalism|Murray Rothbard]] (1926-1995) [[File:Cball-US.png]] {{PBW|USAball|USA}}

*[[File:RonPaul.png]] [[Libertarian Conservatism|Ronald Ernest Paul]] (1935-) [[File:Cball-US.png]] {{PBW|USAball|USA}}

*[[File:Block.png]] [[Anarcho-Capitalism|Walter Block]] (1941-) [[File:Cball-US.png]] {{PBW|USAball|USA}}

*[[File:Austrobert.png]] [[Hayekism|Peter Boetke]] (1960-) [[File:Cball-US.png]] {{PBW|USAball|USA}}

*[[File:MileiLeftRothbardianismPix.png]] [[HayekismLeft-Rothbardianism|JavierRoderick T. MileiLong]] (19701964-) [[File:Cball-ArgentinaUS.png]] Argentina{{PBW|USAball|USA}}

*[[File:ClibMilei.png]] [[Classical LiberalismMinarchism|AxelJavier KaiserMilei]] (19811970-) [[File:Cball-ChileArgentina.png]] Chile{{PBW|Argentinaball|Argentina}}

*[[File:AgorismfClib.png]] [[AgorismClassical Liberalism|RossAxel UlbrichtKaiser]] (19841981-) [[File:Cball-USChile.png]] USA{{PBW|Chileball|Chile}}

*[[File:PaleoaltrAgorismf.png]] [[PaleolibertarianismAgorism|JeffRoss DeistUlbricht]] (?1984-) [[File:Cball-US.png]] {{PBW|USAball|USA}}

*Carl Menger (1840-1921) [[File:Cball-AustriaHungary.png]] Austria-Hungary/[[File:Cball-Austria.png]] {{PBW|Austriaball|Austria}}

*Eugen von Bohm-Bawerk (1851-1914) [[File:Cball-AustriaHungary.png]] Austria-{{PBW|Hungaryball|Hungary}}

*[[File:Mises.png]] [[Classical Liberalism|Ludwig von Mises]] (1881-1973) [[File:Cball-AustriaHungary.png]] Austria-{{PBW|Hungaryball|Hungary}}

*[[File:HoppefFriedrichHayek.png]] [[HoppeanismHayekism|Hans-HermannFriedrich HoppeHayek]] (19491889-1992) [[File:Cball-GermanyAustria.png|link=pb:Austriaball|Austria]]/[[File:Cball-UK.png|link=pb:UKball|United GermanyKingdom]]

*[[File:FriedrichHayekLiberMon.png]] [[HayekismLibertarian Monarchism|FriedrichMateusz HayekMachaj]] (18891981-1992) [[File:Cball-AustriaPolandball.png]] Austria/[[File|link=pb:Cball-UK.pngPolandball|Poland]] UK{{PBW|Polandball|Poland}}

*[[File:LiberMonHoppef.png]] [[Libertarian MonarchismHoppeanism|MateuszHans-Hermann MachajHoppe]] (19811949-) [[File:PolandballCball-Germany.png|link=pb:Germanyball|Germany]] Poland

The '''Austrian School''', though not an actual political ideology andbut rather a school of economic theory, has been greatly influential among libertarian circles. It may be taken as the political ideology usually adhered to by those who follow this school of economics, givengiving rise to the term '''Austrolibertarianism''' shortened to '''Austrobert'''. Thus, as a political ideology, it usually takes form as libertarian, economically laissez-faire, and culturally variable but usually leaning right.

From this epistemological pre-supposition about the nature of knowledge, follows that economics studies can't be done by empirical methods due to it being a social science and not a hard science, making precise economic measurements completely impossible, and thus economics theory can only be studied a priori deducted from the "action axiom".

This, however, does not mean that it completely rejects [[File:Empiricism.png]] empiricism onin the area of economics. It makes a distinction between economic theory and economic history, believing that it is perfectly possible to accurately back claims about economic history with empirical evidence, but rather that these claims are useless in order to prove or disprove any claim in the realm of economic theory, simply exemplifying it.

The Austrian-American economist Fritz Machlup has distinguished six general principles whichthat distinguish the methodology of the Austrian school of economics, as well as two additional principles which together with the methodological principles conform to the politics of Austrolibertarianism.<ref>[https://mises.org/library/ludwig-von-mises-scholar-who-would-not-compromise Ludwig von Mises: A Scholar Who Would not Compromise] by Fritz Machlup</ref>

Methodological Subjectivism is the principle that economic phenomena are generally to be explained through the subjective judgementsjudgments made by different economic actors, taking into account that each one seeks to maximize their utility, usually through maximizing their monetary revenue.

Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative foregone (that is not chosen). It is the sacrifice related to the second -best choice available to someone, or a group, who has picked among several mutually exclusive choices.<br>Opportunity cost is a key concept in mainstream economics and has been described as expressing "the basic relationship between scarcity and choice". The notion of opportunity cost plays a crucial part in ensuring that resources are used efficiently.

Marginalism is an economic theory that states that the value of a determined good is the value of its subjectively least valuable use. Thus, the marginal value (of the next unit of the good in question to be acquired) decreases as the most valuable uses for the good are satisfied, or the opposite happens as one's stock of a good decreases, as one forgoes the least valuable uses for a good firstly upon losing a certain amount of such good.<br>Consequently, in all economic designs, the values, costs, revenues, productivity, and so on are determined by the significance of the last unit added to or subtracted from the total stock.

'''Distributist Libertarianism''' (also known as '''Southern Distributism''') is an economically center-right to right-wing, libertarian, and culturally centrecenter-right ideology, advocating for an economic system based on widely-spread property ownership and a society culturally based on Catholic social teachings. Distributist Libertarians do not believe that [[File:Lfree.png]] laissez-faire Austrian school economics results in an unfair concentration of power, but rather that the vast majority of concentration of power in capitalist economic systems occurs because of state intervention in the economy (for example; Intellectual "Property", Subsidies, Inconsistent Taxation, everything [[File:Keynes.png]] [[Keynesian School|Keynes]] advocates for, and such).

#Draw ina black rattlesnake in the middle of the ball

Austrobert's behavior is based on one of the stereotype of Mises, calling everyone a socialist (EvenEspecially for "[[File:Lib.png]]modern liberal" in the Western sense and even [[File:Chilib.png]] [[Chicago School|Friedmanite-style Libertarians]] or [[File:Hayek.png]] even [[Hayekism|Hayekians]].)

*[[File:Dengf.png]] [[Dengism]] - ISome loveof yourus mainthink personalityyou're allowing markets to flourish, althoughwhile others think you're still imposing a lot of controls that stifle economic growth. In short, housing couldbubbles getand quitepost-Keynesianism annoyingare sometimesdangerous.

*[[File:DsaDemsocstar.png]] [[Democratic Socialism]] [[File:Demsocstar.png]] - He is corrupting modern day politics with this socialist garbage.