Mises Wire
Author:
Philipp Bagus
Online Publish Date:
They are static. Mirowski simply misses Hayek’s main point that entrepreneurs in a competitive market process discover new information. As the market is a process, the these methodological differences between Vienna and Chicago is the opposed view on competition. While Chicago scholars tend to support and devise antitrust laws in between Chicago and Vienna, which Mirowski does not explain, is on monetary policy. Most Austrians favor the abolition of central banks and the introduction of a