The roots of Austrian economics go back to the great theologian Saint Thomas Aquinas, whose view of what constitutes a good was a prototype of Menger's pathbreaking theory of the good.
Responding to an attack on Ludwig von Mises in the socialist publication Jacobin, Professor Wiśniewski corrects the errors and sets the record straight.
Mainstream economists claim that Austrian economics is "discredited" because Austrians use deductive reasoning instead of employing complicated calculus and statistics. The irony is that Austrian analysis is better at explaining real-world economic phenomena.
While Austrian economists criticize the neoclassicals for their models' use of untrue assumptions, critics have turned the same criticism against the Austrians for their use of the evenly rotating economy.
