Monday, October 21, 2013

The Fantasies Of Empirical Economists Are Destructive.

Those who are removed from the market and who are out of touch with how production needs to change to meet the demand cannot contribute anything. These are the empirical economists! They assume away the essential characteristics of how demand really operates in the market – that it is intimately tied to subjective valuation. That erroneous fantasy is the starting point of their arbitrary and destructive economic intervention.

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