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Austrian School: Difference between revisions

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Austrianism<br>
Austrianism<br>
Austrobert<br>
Austrobert<br>
[[File:Austroliberalism-icon.png]] Austroliberalism [[file:AustroLiberalism.png]]<br>
[[File:Austroliberalism-icon.png]] Austroliberalism [[File:AustroLiberalism.png]]<br>
Austrolib<br>
Austrolib<br>
Österlibertarismus<br>
Österlibertarismus<br>
[[File:Mises.png]] Misesian<br>
[[File:Mises.png]] Misesism<br>
Austrian Libertarianism<br>
Austrian Libertarianism<br>
Mengerball<br>
Mengerball<br>
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[[File:Econlib-Steroids.png]] Economic Liberalism On Steroids<br>
[[File:Econlib-Steroids.png]] Economic Liberalism On Steroids<br>
[[File:Econbert.png]] Economic Libertarianism<br>
[[File:Econbert.png]] Economic Libertarianism<br>
[[file:Fisreact.png]] Fiscal Reactionarism<br>
[[File:Fisreact.png]] Fiscal Reactionarism<br>
Fiscal Ultraconservatism<br>
Fiscal Ultraconservatism<br>
Armchair Capitalism (Pejoratively)
Armchair Capitalism (Pejoratively)
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[[File:Libertarian.png]] [[:Category:Libertarians|Libertarians]]<br>
[[File:Libertarian.png]] [[:Category:Libertarians|Libertarians]]<br>
[[File:Cap.png]] [[:Category:Capitalists|Capitalists]]<br>
[[File:Cap.png]] [[:Category:Capitalists|Capitalists]]<br>
[[File:Cultcenter.png]] [[:Category:Cultural Center|Culturally Variable]] (Often leaning right)<br>
[[File:Cultcenter.png]] [[:Category:Cultural Center|Culturally Centre]] to [[File:ModTrad.png]] [[:Category:Culturally Right|Centre-Right]]<br>
|influences=
|influences=
[[File:Trustbust.png]] Anti-Corporatocracy<br>  
[[File:Trustbust.png]] Anti-Corporatocracy<br>
[[File:Antiimp.png]] Anti-Imperialism<br>
[[File:AntiNazism.png]] Anti-Nazism<br>
[[File:Clib.png]] [[Classical Liberalism]]<br>
[[File:Clib.png]] [[Classical Liberalism]]<br>
[[File:Indiv.png]] Individualism<br>
[[File:Indiv.png]] Individualism<br>
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[[File:Hayek.png]] [[Hayekism]]<br>
[[File:Hayek.png]] [[Hayekism]]<br>
[[File:PNL(France).png]] [[Reactionary Liberalism#France|Integral Neo-Darwinism]]<br>
[[File:PNL(France).png]] [[Reactionary Liberalism#France|Integral Neo-Darwinism]]<br>
[[File:Anmark2.png]] [[Market Anarchism]] (Most)<br>
[[File:Anmark2.png]] [[Left-Wing Market Anarchism]] (Most)<br>
[[File:Marketsoc.png]] [[Market Socialism]] (Post ECP)<br>
[[File:Marketsoc.png]] [[Market Socialism]] (Post ECP)<br>
[[File:Minarchist.png]] [[Minarchism]] (Some)<br>
[[File:Minarchist.png]] [[Minarchism]] (Some)<br>
[[File:NeoEnl.png]] [[Neo-Enlightenment]]<br>
[[File:NeoEnl.png]] [[Neo-Enlightenment]]<br>
[[File:Nrx.png]] [[Dark Enlightenment]]<br>
[[File:Nrx.png]] [[Neoreactionaryism]]<br>
[[File:Paleolib.png]] [[Paleolibertarianism]]<br>
[[File:Paleolib.png]] [[Paleolibertarianism]]<br>
[[File:Reactlib-icon.png]] [[Reactionary Libertarianism]]
[[File:Reactlib-icon.png]] [[Reactionary Libertarianism]]
}}
}}
|variants=
|variants=
*'''[[File:Distlib.png]] Distributist Libertarianism''' {{Collapse|
[[File:Distlib.png]] '''Distributist Libertarianism''' {{Collapse|
**[[File:Xbert.png]] [[Paleolibertarianism|Christian Libertarianism]]
*[[File:Xbert.png]] [[Paleolibertarianism|Christian Libertarianism]]
**[[File: Distributist.png]] [[Distributism]]  
*[[File:Distributist.png]] [[Distributism]]  
}}
}}
|song=[https://www.youtube.com/watch?v=Hmb67iRzrMo Taxation Is Theft]<br>
[[File:TIKH.png]] '''TIKHistory''' {{Collapse|
*[[File:Trustbust.png]] Anti-Corporatocracy
*[[File:AntiNazism.png]] Anti-Nazism
*[[File:Antisoc.png]] Anti-Socialism
*[[File:Volu.png]] [[Anarcho-Capitalism|Voluntaryism]]
}}
|song=
[https://www.youtube.com/watch?v=Hmb67iRzrMo Taxation Is Theft]<br>
[https://youtu.be/QwqnRYPcrl0 Mises vs. Marx]
[https://youtu.be/QwqnRYPcrl0 Mises vs. Marx]
|theorists=[[file:PanAmer.png]] '''Americas''' {{Collapse|
|theorists=
[[File:PanAmer.png]] '''Americas''' {{Collapse|
*[[File:Mediastocracy_flair.png]] [[Mediacracy|Henry Hazlitt]]  (1894-1993) [[File:Cball-US.png]] USA
*[[File:Mediastocracy_flair.png]] [[Mediacracy|Henry Hazlitt]]  (1894-1993) [[File:Cball-US.png]] USA
*[[File:Ancapf.png]] [[Anarcho-Capitalism|Murray Rothbard]]  (1926-1995) [[File:Cball-US.png]] USA
*[[File:Ancapf.png]] [[Anarcho-Capitalism|Murray Rothbard]]  (1926-1995) [[File:Cball-US.png]] USA
*[[File:RonPaul.png]] [[Libertarian Conservatism|Ronald Ernest Paul]] (1935-) [[File:Cball-US.png]] USA
*[[File:RonPaul.png]] [[Libertarian Conservatism|Ronald Ernest Paul]] (1935-) [[File:Cball-US.png]] USA
*[[file:Austrobert.png]] [[Hayekism|Peter Boetke]] (1960-) [[File:Cball-US.png]] USA
*[[File:Konkin.png]] [[Agorism|Samuel Edward Konkin III]] (1947-2004) [[File:Cball-Canada.png]] Canada
*[[File:Hayek.png]] [[Hayekism|Javier Milei]] (1970-) [[File:Cball-Argentina.png]] Argentina
*[[File:Austrobert.png]] [[Hayekism|Peter Boetke]] (1960-) [[File:Cball-US.png]] USA
*[[File:Milei.png]] [[Hayekism|Javier Milei]] (1970-) [[File:Cball-Argentina.png]] Argentina
*[[File:Curtis_Yarvin.png]] [[Neoreactionaryism|Curtis Yarvin]] (1973-) [[File:Cball-US.png]] USA
*[[File:Clib.png]] [[Classical Liberalism|Axel Kaiser]] (1981-) [[File:Cball-Chile.png]] Chile
*[[File:Clib.png]] [[Classical Liberalism|Axel Kaiser]] (1981-) [[File:Cball-Chile.png]] Chile
*[[File:Paleoaltr.png]] [[Paleolibertarianism|Jeff Deist]] (?-) [[File:Cball-US.png]] USA
*[[File:Paleoaltr.png]] [[Paleolibertarianism|Jeff Deist]] (?-) [[File:Cball-US.png]] USA
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*[[File:LiberMon.png]] [[Libertarian Monarchism|Mateusz Machaj]] (1981-) [[File:Polandball.png]] Poland
*[[File:LiberMon.png]] [[Libertarian Monarchism|Mateusz Machaj]] (1981-) [[File:Polandball.png]] Poland
}}
}}
|likes=[[File:Austrobert.png]] Austrian Economics<br>
|likes=
[[File:Austrobert.png]] Austrian Economics<br>
[[File:Lfree.png]] Free Market Capitalism<br>
[[File:Lfree.png]] Free Market Capitalism<br>
[[File:Libertarian.png]] American Libertarianism<br>
[[File:Libertarian.png]] American Libertarianism<br>
[[File:Fiscon.png]] Austerity<br>
[[File:Fiscon.png]] Austerity<br>
[[File:Autarch.png]] Individual Freedom  
[[File:Autarch.png]] Individual Freedom  
|dislikes=[[File:Keynes.png]] [[Keynesianism|Keynesians]]<br>
|dislikes=
[[File:Keynes.png]] [[Keynesian School|Keynesians]]<br>
[[File:Corp.png]] [[Corporatocracy|Fiat Currency]]<br>
[[File:Corp.png]] [[Corporatocracy|Fiat Currency]]<br>
[[File:Regulationism.png]] [[Regulationism|Market Regulations]]<br>  
[[File:Regulationism.png]] [[Regulationism|Market Regulations]]<br>  
[[File:Soc.png]] [[Socialism]]
[[File:Soc-h.png]] [[Socialism]]
}}
}}
'''Austrian School''', also known as '''Austrolibertarianism''' shortened to '''Austrobert''', is libertarian, economically laissez-faire, and culturally variable but usually leaning right. He is rather simply [[File:Libertarian.png]] [[Libertarianism]] based on the [[File:AustrianSchool.png]] Austrian School Economics. It is highly influenced by Menger's Marginal Utility Theory, Mises' Praxeology and Socialist Economic Calculation Problem, the Austrian Business Cycle, etc...
The '''Austrian School''', though not an actual political ideology and 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, given 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.


While as economic theory, the Austrian School of Economics neither supports nor opposes regulations (merely stating what their effects are), as a political ideology which encompasses economic thought, it opposes market intervention from the state, from either a "value-free approach" (taken by Mises) or an ethical-juridical approach (taken by Rothbard, who criticized the former), believing that markets follow tendencies of auto-regulation, always moving towards equilibrium, though never fully reaching it as the point of equilibrium moves.<br>Many followers of it especially stress the damage done by state influence in monetary policies, believing this (manipulation of money supply and interest rates) to be the cause of many economic cycles.
Philosophically, it is important to note that Mises' concept of praxeology as his methodology for the study of economic theory, stems from the [[File:Kant.png]] kantian idea of the existence of synthetic a priori truths (that is, truths that can be deduced a priori but that require more than the use of formal logic), contrary to empiricism, which claims that the only synthetic truths that exist are discovered through a posteriori experience.


It believes 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".
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 on 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.
This, however, does not mean that it completely rejects [[File:Empiricism.png]] empiricism on 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.


== History ==
==History==


== Tenets ==
==Tenets==
The Austrian-American economist Fritz Machlup has distinguished six general principles which distinguish the methodology of the Austrian school of economics, as well as two additional principles which together with the methodological principles conform the politics of Austrolibertarianism. With the former being: methodological individualism, methodological subjectivism, tastes and preferences, opportunity costs, marginalism and time structure of production and consumption; and the latter being consumer sovereignty and political individualism.<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>
The Austrian-American economist Fritz Machlup has distinguished six general principles which distinguish the methodology of the Austrian school of economics, as well as two additional principles which together with the methodological principles conform 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 [[File:Indiv.png]] Individualism ===
===Methodological [[File:Indiv.png]] Individualism===
Methodological individualism is the scientific principle that social phenomena are to be explained through the actions of individuals, instead of groups, as the latter can be explained by the former. According to methodological individualists, collectives may only exert influence through the actions of their individual members, and whether or not an action is attributed to the group or to an individual depends on the interpretation of the observer.
Methodological individualism is the scientific principle that social phenomena are to be explained through the actions of individuals, instead of groups, as the latter can be explained by the former. According to methodological individualists, collectives may only exert influence through the actions of their individual members, and whether or not an action is attributed to the group or to an individual depends on the interpretation of the observer.


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


=== Tastes and Preferences ===
===Tastes and Preferences===
Subjective valuations of goods and services determine the demand for them so that their prices are influenced by (actual and potential) consumers.
Subjective valuations of goods and services determine the demand for them, so their prices are influenced by the current and potential scales of preference of consumers.


=== Opportunity Cost ===
===Opportunity Cost===
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 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.
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 ===
===Marginalism===
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 most valuable uses for the good are satisfied, or the opposite happens as one's stock of a good decreases.<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.
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 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.


=== Time Structure ===
===Time Structure===
Decisions to save reflect "time preferences" regarding consumption in the immediate, distant, or indefinite future and investments are made in view of larger outputs (interest) expected to be obtained if more time-taking production processes are undertaken.
Decisions to save (for future consumption) or spend reflect "time preferences" regarding consumption in the immediate, distant, or indefinite future and investments are made in view of larger outputs (interest) expected to be obtained if more time-taking production processes are undertaken.


=== Consumer Sovereignty ===
===Consumer Sovereignty===
The influence consumers have on the effective demand for goods and services and through the prices which result in free competitive markets, on the production plans of producers and investors, is not merely a hard fact but also an important objective, attainable only by complete avoidance of governmental interference with the markets and of restrictions on the freedom of sellers and buyers to follow their own judgment regarding quantities, qualities and prices of products and services.
The influence consumers have on the effective demand for goods and services and through the prices which result in free competitive markets, on the production plans of producers and investors, is not merely a hard fact but also an important objective, attainable only by complete avoidance of governmental interference with the markets and of restrictions on the freedom of sellers and buyers to follow their own judgment regarding quantities, qualities and prices of products and services.


=== Political Individualism ===
===Political Individualism===
Only when individuals are given full economic freedom will it be possible to secure political and moral freedom. Restrictions on economic freedom lead, sooner or later, to an extension of the coercive activities of the state into the political domain, undermining and eventually destroying the essential individual liberties which the capitalistic societies were able to attain in the 19th century.
Only when individuals are given full economic freedom is it possible to secure political and moral freedom. Restrictions on economic freedom lead, sooner or later, to an extension of the coercive activities of the state into the political domain, undermining and eventually destroying the essential individual liberties which the capitalistic societies were able to acquire in the 19th century


== Conclusions ==
==Variants==
 
===[[File:Distlib.png]] Distributist Libertarianism===
== Variants ==
=== [[File:Distlib.png]] Distributist Libertarianism ===
[[File:Distributist libert flag.svg|thumb|{{Colorlink|#000|Distributist Libertarianism|Flag of Distributist Libertarianism}}]]
[[File:Distributist libert flag.svg|thumb|{{Colorlink|#000|Distributist Libertarianism|Flag of Distributist Libertarianism}}]]
'''Distributist Libertarianism''' (also known as '''Southern Distributism''') is an economically  center-right to right-wing, libertarian and culturally centre-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 result 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]] [[Keynesianism|Keynes]] advocates for and such).
'''Distributist Libertarianism''' (also known as '''Southern Distributism''') is an economically  center-right to right-wing, libertarian and culturally centre-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).


== How to Draw ==
==How to Draw==
Austrian School's design is a combination of Austria's and the Gadsden flags.
{{Flag|Austrobert_flag.svg}}
{{Flag|Austrobert_flag.svg}}
Austrobert's design is a combination of the Austrian and Gadsden flags
 
#Draw a ball,
#Draw a ball
#Draw 3 bars, the top and bottom ones red (#EE2436), and the middle one white (#FFFFFF),
#Separate the ball into 3 equal horizontal bars (a tricolor), with the top and bottom being pinkish-red, and the middle one being white
#Draw in black (#141414) a snake,
#Draw in black rattlesnake in the middle of the ball
#(Optional) Below the snake draw some variation of the words "no step on snek" or "don't tread on me", you can also write "trete nicht" or simply "nein" (meaning "do not step" and "no" in German, respectively).
#Add green grass below the snake
#Draw the eyes, and you're done!
#Lower below, add some variation of the quote ''"DON'T TREAD ON ME"'', like ''"no step on snek"''
##Alternatively, you can write ''"TRITT NICHT AUF MICH"'' or simply ''"NEIN"'' (in German, meaning ''"DO NOT TREAD ON ME"'' and ''"NO"'' respectively)
#Draw the eyes
You're done!
 
{{Flag-auto
{{Flag-auto
|c1 = Red
|c1 = Pinkish Red
|h1 = #EE2436
|h1 = #EE2436
|c2 = White
|c2 = White
Line 141: Line 158:
|c3 = Black
|c3 = Black
|h3 = #141414
|h3 = #141414
}}
|c4 = Grass Green
|h4 = #194619}}


== Relationships ==
==Relationships==
Austrobert's behavior is based on one of the stereotype of Mises, calling everyone a socialist (Even [[File:Chilib.png]] [[Chicago School|Friedmanite-style Libertarians]] or [[File:Hayek.png]] even [[Hayekism|Hayekians]].)
Austrobert's behavior is based on one of the stereotype of Mises, calling everyone a socialist (Even [[File:Chilib.png]] [[Chicago School|Friedmanite-style Libertarians]] or [[File:Hayek.png]] even [[Hayekism|Hayekians]].)


=== True Capitalists ===
===True Capitalists===
 
*[[File:Clib.png]] [[Classical Liberalism]] - My greatest influence and the best granddad I could ask for.
*[[File:Clib.png]] [[Classical Liberalism]] - My greatest influence and the best granddad I could ask for.
*[[File:Hayek.png]] [[Hayekism]] - My son and a fellow Austrian.
*[[File:Hayek.png]] [[Hayekism]] - My son and a fellow Austrian.
Line 159: Line 176:
*[[File:Natlib.png]] [[National Libertarianism]] - Improved contemporary version of above.
*[[File:Natlib.png]] [[National Libertarianism]] - Improved contemporary version of above.
*[[File:MGTOW.png]] [[Manosphere|MGTOW]] & [[File:NeoMasculinity.png]] [[Manosphere#Neomasculinity|Neomasculinity]] - Manly!
*[[File:MGTOW.png]] [[Manosphere|MGTOW]] & [[File:NeoMasculinity.png]] [[Manosphere#Neomasculinity|Neomasculinity]] - Manly!
*[[File:Autarch.png]] [[Autarchism]] - Yes individuals are self-owners therefore have the right to self-government.
*[[File:Autarch.png]] [[Autarchy]] - Yes individuals are self-owners therefore have the right to self-government.
 
=== Commie Sympathyzers ===


===Commie Sympathyzers===
*[[File:Mercantil.png]] [[Mercantilism]] - I dont know if hate you for being [[File:Protect.png]] pr*tectionist or love you for creating [[File:Cap.png]] capitalism
*[[File:AdamSmith.png]] [[Capitalism|Adam Smith Thought]] - Based Adam Smith, WAIT ARE YOU A WELFARIST!?
*[[File:Plcn2.png]] [[Paleoconservatism]] - He used to be a cool guy back in the day, but now he's a protectionist that doesn't value free trade, also too statist.
*[[File:Plcn2.png]] [[Paleoconservatism]] - He used to be a cool guy back in the day, but now he's a protectionist that doesn't value free trade, also too statist.
*[[File:Dengf.png]] [[Dengism]] - I love your main personality, although you could get quite annoying sometimes.
*[[File:Dengf.png]] [[Dengism]] - I love your main personality, although you could get quite annoying sometimes.
*[[File:Bhl.png]] [[Bleeding-Heart Libertarianism]] - He's okay, a bit too progressive and I disagree with some of his neoclassical economic views.
*[[File:Bhl.png]] [[Bleeding-Heart Libertarianism]] - He's okay, a bit too progressive and I disagree with some of his neoclassical economic views.
*[[File:Fash.png]] [[Fascism]] - "It cannot be denied that Fascism and similar movements aiming at the establishment of dictatorships are full of the best intentions and that their intervention has, for the moment, saved European civilization. The merit that Fascism has thereby won for itself will live on eternally in history. But though its policy has brought salvation for the moment, it is not of the kind which could promise continued success. Fascism was an emergency makeshift. To view it as something more would be a fatal error."
*[[File:Fash.png]] [[Fascism]] - "It cannot be denied that Fascism and similar movements aiming at the establishment of dictatorships are full of the best intentions and that their intervention has, for the moment, saved European civilization. The merit that Fascism has thereby won for itself will live on eternally in history. But though its policy has brought salvation for the moment, it is not of the kind which could promise continued success. Fascism was an emergency makeshift. To view it as something more would be a fatal error."
*[[File:AusFash.png]] [[Austrofascism]] - My fash twin. <s>Thanks for choosing  me as your main economic advisor.</s>
*[[File:AusFash.png]] [[Austrofascism]] - My fashist twin. <s>Thanks for choosing  me as your main economic advisor.</s>
*[[File:Nazcap-Hat.png]] [[National Capitalism]] - My beloved son, loves laissez-faire economy. [https://en.wikipedia.org/wiki/Ludwig_von_Mises#Early_life BUT WHY WOULD HATE THE JEWS?] [https://en.wikipedia.org/wiki/Murray_Rothbard#Education JEWS ARE THE BEST AUSTRIAN ECONOMIST!]
*[[File:Nazcap-Hat.png]] [[National Capitalism]] - My beloved son, loves laissez-faire economy. [[w:Ludwig_von_Mises#Early_life|BUT WHY WOULD HATE THE JEWS?]] [[w:Murray_Rothbard#Education|JEWS ARE THE BEST AUSTRIAN ECONOMIST!]]
*[[File:Reactlib.png]] [[Reactionary Liberalism]] - Erik Von Kuehnelt-Leddinh and Vilfredo Pareto are based though you take too many steroids [[File:Natlib-steroids.png]].
*[[File:Reactlib.png]] [[Reactionary Liberalism]] - Erik Von Kuehnelt-Leddinh and Vilfredo Pareto are based though you take too many steroids [[File:Natlib-steroids.png]].
*[[File:EndecjaPix.png]] [[National Democracy]] - Paleocon, but Polish. Roman Rybarski and Adam Heydel are pretty based at least.
*[[File:EndecjaPix.png]] [[National Democracy]] - Paleocon, but Polish. Roman Rybarski and Adam Heydel are pretty based at least.
*[[File:Neoliberal-icon.png]] [[Neoliberalism]] & [[File:Orlib.png]] [[Ordo-Liberalism]] - Stop granting legitimization to socialism.
*[[File:Neoliberal-icon.png]] [[Neoliberalism]] & [[File:Orlib.png]] [[Ordo-Liberalism]] - Stop granting legitimization to socialism.
*[[File:Altl.png]] [[Alt-Lite]] - Some of you are based specially [[File:Seibt.png]] Naomi Seibt but [[File:SteveBannon.png]] Bannon hates me.
*[[File:Altl.png]] [[Alt-Lite]] - Some of you are based specially [[File:Seibt.png]] Naomi Seibt but [[File:SteveBannon.png]] Bannon hates me.
*[[File:Avar.png]] [[Avaritionism]] - Laissez-faire IS NOT ENOUGH?
*[[File:Avar.png]] [[Avaritionism]] - Laissez-faire IS NOT ENOUGH?


===SOCIALISTS!!!!!===
===SOCIALISTS!!!!!===
*<s>Literally anyone to the left of Mises</s>
*<s>Literally anyone to the left of Mises</s>
*[[File:Austrmarx.png]] [[Austromarxism]] - My evil commie twin.
*[[File:Austrmarx.png]] [[Austromarxism]] - My evil commie twin.
*[[File:Dsa.png]] [[Democratic Socialism]] [[File:Demsocstar.png]] - He is corrupting modern day politics with this socialist garbage.
*[[File:Dsa.png]] [[Democratic Socialism]] [[File:Demsocstar.png]] - He is corrupting modern day politics with this socialist garbage.
*[[File:Keynes.png]] [[Keynesianism]] - I cannot stand him, he doesn't understand simple economics! End the fed.
*[[File:Keynes.png]] [[Keynesian School]] - I cannot stand him, he doesn't understand simple economics! End the fed.
*[[File:Nazi.png]] [[National Socialism]] - I hate this statist prick. The best Austrian economists are Jews, and he hates them!
*[[File:Nazi.png]] [[Nazism]] - I hate this statist prick. The best Austrian economists are Jews, and he hates them!
*[[File:ML.png]] [[Marxism–Leninism]] - ECP, commie!
*[[File:ML.png]] [[Marxism–Leninism]] - ECP, commie!
*[[File: Nazbol.png]] [[National Bolshevism]] - A disgusting fusion of the two above.
*[[File:Nazbol.png]] [[National Bolshevism]] - A disgusting fusion of the two above.
*[[File:Corp.png]] [[Corporatocracy]] - Companies being dominant as an ideology is a hell. <s>Laissez-faire does not allow this to happen, they're smart and can regulate themselves. I swear, just trust me, guys.</s>
*[[File:Corp.png]] [[Corporatocracy]] - Companies being dominant as an ideology is a hell. <s>Laissez-faire does not allow this to happen, they're smart and can regulate themselves. I swear, just trust me, guys.</s>
*[[File: Soc.png]] [[Socialism]] - Age old enemy. <s>STOP CALLING ME A [[File:Misestard.png]] MISESTARD!!!</s>
*[[File:Soc-h.png]] [[Socialism]] - Age old enemy. <s>STOP CALLING ME A [[File:Misestard.png]] MISESTARD!!!</s>
*[[File:Marketsoc.png]] [[Market Socialism]] - So this is how they're trying to save socialism, huh? Too bad it still won't work.
*[[File:Marketsoc.png]] [[Market Socialism]] - So this is how they're trying to save socialism, huh? Too bad it still won't work.
*[[File:Cybercom.png]] [[Cybercommunism]] - AI won't solve the ECP, commie!
*[[File:Cybercom.png]] [[Cybercommunism]] - AI won't solve the ECP, commie!
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*[[File:Ottoman.png]] [[Neo-Ottomanism]] - Your interest rate policy is an absolute disaster.
*[[File:Ottoman.png]] [[Neo-Ottomanism]] - Your interest rate policy is an absolute disaster.
*[[File:3way.png]] [[Third Way]] - Your policy will never provide a "third way" between capitalism and socialism.
*[[File:3way.png]] [[Third Way]] - Your policy will never provide a "third way" between capitalism and socialism.
*[[File:DepopPosadist.png]] [[Posadism|Demographic Posadism]] - LMAO! Do you really think that depopulation will collapse the market system? It maybe will tear down states with Ponzi scheme social security programs, but it will NEVER collapse the entire market.
*[[File:DepopPosadist.png]] {{PCBA|Demographic Posadism}} - LMAO! Do you really think that depopulation will collapse the market system? It maybe will tear down states with Ponzi scheme social security programs, but it will NEVER collapse the entire market.


== Further Information ==
==Further Information==
For overlapping political theory see:<br>
For overlapping political theory see:<br>
<center><small>[[File:Clib.png|18px]] [[Classical Liberalism]] • [[File:Cap.png|18px]] [[Capitalism]] • [[File:Ancapf.png|18px]] [[Anarcho-Capitalism]] • [[File:Libertarian.png|18px]] [[Libertarianism]]  • [[File:Hoppef.png|18px]] [[Hoppeanism]] • [[File:Paleolib.png|18px]] [[Paleolibertarianism]]</small></center>
<center><small>[[File:Clib.png|18px]] [[Classical Liberalism]] • [[File:Cap.png|18px]] [[Capitalism]] • [[File:Ancapf.png|18px]] [[Anarcho-Capitalism]] • [[File:Libertarian.png|18px]] [[Libertarianism]]  • [[File:Hoppef.png|18px]] [[Hoppeanism]] • [[File:Paleolib.png|18px]] [[Paleolibertarianism]]</small></center>


=== Literature ===
===Literature===
 
* [https://mises.org/library/human-action-0 Human Action] by [[File:Clib.png]] [[Classical Liberalism|Ludwig Von Mises]]
* [https://mises.org/library/human-action-0 Human Action] by [[File:Clib.png]] [[Classical Liberalism|Ludwig Von Mises]]
* [https://mises.org/library/economic-calculation-socialist-commonwealth Economic Calculation Problem in the Socialist Commonwealth] by [[File:Clib.png]] [[Classical Liberalism|Ludwig Von Mises]]
* [https://mises.org/library/economic-calculation-socialist-commonwealth Economic Calculation Problem in the Socialist Commonwealth] by [[File:Clib.png]] [[Classical Liberalism|Ludwig Von Mises]]
Line 208: Line 224:
* [https://mises.org/wire/forgotten-greatness-rothbards-preface-theory-and-history The Forgotten Greatness of Rothbard's Preface to ''Theory and History'']by George Pickering
* [https://mises.org/wire/forgotten-greatness-rothbards-preface-theory-and-history The Forgotten Greatness of Rothbard's Preface to ''Theory and History'']by George Pickering


=== Wikipedia ===
===Wikipedia===
*[https://en.wikipedia.org/wiki/Austrian_School Austrian School]
*[[w:Austrian_School|Austrian School]]
*[https://en.wikipedia.org/wiki/Category:Austrian_School Category: Austrian School]
*[[w:Category:Austrian_School|Category: Austrian School]]
*[https://en.wikipedia.org/wiki/Right-libertarianism Right-Libertarianism]
*[[w:Right-libertarianism|Right-Libertarianism]]
*[https://en.wikipedia.org/wiki/Methodological_individualism Methodological individualism]
*[[w:Methodological_individualism|Methodological individualism]]
*[https://en.wikipedia.org/wiki/Austrian_business_cycle_theory Austrian business cycle theory]
*[[w:Austrian_business_cycle_theory|Austrian business cycle theory]]
*[https://en.m.wikipedia.org/wiki/Subjective_theory_of_value Subjective theory of value]
*[https://en.m.wikipedia.org/wiki/Subjective_theory_of_value Subjective theory of value]
*[https://en.wikipedia.org/wiki/Party_of_Reason]
*[[w:Party_of_Reason|Party of Reason]]


=== Videos ===
===Videos===
*[https://www.youtube.com/playlist?list=PLO0MloTwGgjihyjlcFuVapqbMKpnpaomE Masters of Austrian Economics] by [https://www.youtube.com/c/TheAcademicAgent The Academic Agent]
*[https://www.youtube.com/playlist?list=PLO0MloTwGgjihyjlcFuVapqbMKpnpaomE Masters of Austrian Economics] by [https://www.youtube.com/c/TheAcademicAgent The Academic Agent]
*[https://www.youtube.com/playlist?list=PLO0MloTwGgjihyjlcFuVapqbMKpnpaomE Austrian Econ Basics] by [https://www.youtube.com/channel/UC5PPbhNfajmhPq7RvkMgVmw Anglo Libertarian]
*[https://www.youtube.com/playlist?list=PLO0MloTwGgjihyjlcFuVapqbMKpnpaomE Austrian Econ Basics] by [https://www.youtube.com/channel/UC5PPbhNfajmhPq7RvkMgVmw Anglo Libertarian]
*[https://www.youtube.com/watch?v=vZypHdh2SrU&feature=youtu.be Human Action] by [https://www.youtube.com/channel/UC_LhqfIJaMIuK-727-N4cDQ Fundacja Wolności i Przedsiębiorczości]
*[https://www.youtube.com/watch?v=vZypHdh2SrU&feature=youtu.be Human Action] by [https://www.youtube.com/channel/UC_LhqfIJaMIuK-727-N4cDQ Fundacja Wolności i Przedsiębiorczości]
*https://youtu.be/lWw1JUQ_1qE
*https://youtu.be/lWw1JUQ_1qE
==== Channels ====
====Channels====
*[https://youtube.com/user/lucretiuscaro jorge antonio soler sanz]
*[https://youtube.com/user/lucretiuscaro jorge antonio soler sanz]


=== Online Communities ===
===Online Communities===
*[https://www.reddit.com/r/austrian_economics/ r/Austrian_Economics]
*[https://www.reddit.com/r/austrian_economics/ r/Austrian_Economics]
*[https://www.reddit.com/r/NewAustrianSociety/ r/NewAustrianSociety]
*[https://www.reddit.com/r/NewAustrianSociety/ r/NewAustrianSociety]
*[https://wiki.mises.org/wiki/Main_Page Mises Wiki]
*[https://wiki.mises.org/wiki/Main_Page Mises Wiki]


=== References ===
===References===
<references />
<references />


== Gallery ==
==Gallery==
===Comics===
<gallery>
<gallery>
Austrolibertarianism-0.png|Original Image
Austrolibertarianism.png
distbert-sts.png|Distributist Libertarianism
Distbert.png|Distributist Libertarianism
R7lbv39xwcz41.png|Credit: u/K-Tech2 [https://www.reddit.com/r/Polcompball/comments/glizc4/austrobert_at_family_reunion/ Source]
R7lbv39xwcz41.png|Credit: u/K-Tech2 [https://www.reddit.com/r/Polcompball/comments/glizc4/austrobert_at_family_reunion/ Source]
</gallery>
===Portraits and Artwork===
<gallery>
Austrolibertarianism-0.png|Original Portrait
Austrolibertarianism.png|Another old portrait
Legend2T-9x9.png|Credit: [[File:Colmin.png]][[User:TheLegend2T|TheLegend2T]], [https://www.reddit.com/r/Polcompballanarchy/comments/mqcr2d/the_9x9_compass_of_famous_people/ Source]
Legend2T-9x9.png|Credit: [[File:Colmin.png]][[User:TheLegend2T|TheLegend2T]], [https://www.reddit.com/r/Polcompballanarchy/comments/mqcr2d/the_9x9_compass_of_famous_people/ Source]
RandomRetard2137-9x9 Characters.png
RandomRetard2137-9x9 Characters.png
</gallery>
====Alternative designs====
<gallery>
distbert-sts.png|Distributist Libertarianism
Distbert.png|Distributist Libertarianism 2
</gallery>
</gallery>


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[[Category:Economic Systems]]
[[Category:Economic Systems]]
[[Category:Cultural_Center]]
[[Category:Culturally_Right]]

Latest revision as of 17:04, 12 June 2024

The Austrian School, though not an actual political ideology and 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, given 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.

Philosophically, it is important to note that Mises' concept of praxeology as his methodology for the study of economic theory, stems from the kantian idea of the existence of synthetic a priori truths (that is, truths that can be deduced a priori but that require more than the use of formal logic), contrary to empiricism, which claims that the only synthetic truths that exist are discovered through a posteriori experience.

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 empiricism on 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.

History

Tenets

The Austrian-American economist Fritz Machlup has distinguished six general principles which distinguish the methodology of the Austrian school of economics, as well as two additional principles which together with the methodological principles conform the politics of Austrolibertarianism.[1]

Methodological Individualism

Methodological individualism is the scientific principle that social phenomena are to be explained through the actions of individuals, instead of groups, as the latter can be explained by the former. According to methodological individualists, collectives may only exert influence through the actions of their individual members, and whether or not an action is attributed to the group or to an individual depends on the interpretation of the observer.

Methodological Subjectivism

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

Tastes and Preferences

Subjective valuations of goods and services determine the demand for them, so their prices are influenced by the current and potential scales of preference of consumers.

Opportunity Cost

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.
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

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 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.
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.

Time Structure

Decisions to save (for future consumption) or spend reflect "time preferences" regarding consumption in the immediate, distant, or indefinite future and investments are made in view of larger outputs (interest) expected to be obtained if more time-taking production processes are undertaken.

Consumer Sovereignty

The influence consumers have on the effective demand for goods and services and through the prices which result in free competitive markets, on the production plans of producers and investors, is not merely a hard fact but also an important objective, attainable only by complete avoidance of governmental interference with the markets and of restrictions on the freedom of sellers and buyers to follow their own judgment regarding quantities, qualities and prices of products and services.

Political Individualism

Only when individuals are given full economic freedom is it possible to secure political and moral freedom. Restrictions on economic freedom lead, sooner or later, to an extension of the coercive activities of the state into the political domain, undermining and eventually destroying the essential individual liberties which the capitalistic societies were able to acquire in the 19th century

Variants

Distributist Libertarianism

Flag of Distributist Libertarianism

Distributist Libertarianism (also known as Southern Distributism) is an economically center-right to right-wing, libertarian and culturally centre-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 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 Keynes advocates for, and such).

How to Draw

Austrian School's design is a combination of Austria's and the Gadsden flags.

Flag of Austrian School
  1. Draw a ball
  2. Separate the ball into 3 equal horizontal bars (a tricolor), with the top and bottom being pinkish-red, and the middle one being white
  3. Draw in black rattlesnake in the middle of the ball
  4. Add green grass below the snake
  5. Lower below, add some variation of the quote "DON'T TREAD ON ME", like "no step on snek"
    1. Alternatively, you can write "TRITT NICHT AUF MICH" or simply "NEIN" (in German, meaning "DO NOT TREAD ON ME" and "NO" respectively)
  6. Draw the eyes

You're done!

Color Name HEX RGB
Pinkish Red #EE2436 238, 36, 54
White #FFFFFF 255, 255, 255
Black #141414 20, 20, 20
Grass Green #194619 25, 70, 25


Relationships

Austrobert's behavior is based on one of the stereotype of Mises, calling everyone a socialist (Even Friedmanite-style Libertarians or even Hayekians.)

True Capitalists

  • Classical Liberalism - My greatest influence and the best granddad I could ask for.
  • Hayekism - My son and a fellow Austrian.
  • Paleolibertarianism - Similar to me, but a bit more traditional.
  • Anarcho-Capitalism - Rothbardian Ancap, very based indeed.
  • Minarchism - Separation of state and business? Based!
  • Hoppeanism - Fellow Rothbardian, though some quotes of his are a little... odd...
  • Libertarianism - He's fun to hang out with, he needs to read some Mises.
  • Chicago School - We agree on most of the things and want to get to the almost the same results, but we disagree on the way to analyze the economy and some instances of monetary policies.
  • National Liberalism - 19th century patriotic liberal movements in Europe were a great advance on liberty.
  • National Libertarianism - Improved contemporary version of above.
  • MGTOW & Neomasculinity - Manly!
  • Autarchy - Yes individuals are self-owners therefore have the right to self-government.

Commie Sympathyzers

  • Mercantilism - I dont know if hate you for being pr*tectionist or love you for creating capitalism
  • Adam Smith Thought - Based Adam Smith, WAIT ARE YOU A WELFARIST!?
  • Paleoconservatism - He used to be a cool guy back in the day, but now he's a protectionist that doesn't value free trade, also too statist.
  • Dengism - I love your main personality, although you could get quite annoying sometimes.
  • Bleeding-Heart Libertarianism - He's okay, a bit too progressive and I disagree with some of his neoclassical economic views.
  • Fascism - "It cannot be denied that Fascism and similar movements aiming at the establishment of dictatorships are full of the best intentions and that their intervention has, for the moment, saved European civilization. The merit that Fascism has thereby won for itself will live on eternally in history. But though its policy has brought salvation for the moment, it is not of the kind which could promise continued success. Fascism was an emergency makeshift. To view it as something more would be a fatal error."
  • Austrofascism - My fashist twin. Thanks for choosing me as your main economic advisor.
  • National Capitalism - My beloved son, loves laissez-faire economy. BUT WHY WOULD HATE THE JEWS? JEWS ARE THE BEST AUSTRIAN ECONOMIST!
  • Reactionary Liberalism - Erik Von Kuehnelt-Leddinh and Vilfredo Pareto are based though you take too many steroids .
  • National Democracy - Paleocon, but Polish. Roman Rybarski and Adam Heydel are pretty based at least.
  • Neoliberalism & Ordo-Liberalism - Stop granting legitimization to socialism.
  • Alt-Lite - Some of you are based specially Naomi Seibt but Bannon hates me.
  • Avaritionism - Laissez-faire IS NOT ENOUGH?

SOCIALISTS!!!!!

  • Literally anyone to the left of Mises
  • Austromarxism - My evil commie twin.
  • Democratic Socialism - He is corrupting modern day politics with this socialist garbage.
  • Keynesian School - I cannot stand him, he doesn't understand simple economics! End the fed.
  • Nazism - I hate this statist prick. The best Austrian economists are Jews, and he hates them!
  • Marxism–Leninism - ECP, commie!
  • National Bolshevism - A disgusting fusion of the two above.
  • Corporatocracy - Companies being dominant as an ideology is a hell. Laissez-faire does not allow this to happen, they're smart and can regulate themselves. I swear, just trust me, guys.
  • Socialism - Age old enemy. STOP CALLING ME A MISESTARD!!!
  • Market Socialism - So this is how they're trying to save socialism, huh? Too bad it still won't work.
  • Cybercommunism - AI won't solve the ECP, commie!
  • Regulationism - Don't tread on me, statist trash!
  • Social Capitalism, Social Liberalism & Social Democracy - All socialists wearing capitalist masks!
  • Neo-Ottomanism - Your interest rate policy is an absolute disaster.
  • Third Way - Your policy will never provide a "third way" between capitalism and socialism.
  • Demographic Posadism - LMAO! Do you really think that depopulation will collapse the market system? It maybe will tear down states with Ponzi scheme social security programs, but it will NEVER collapse the entire market.

Further Information

For overlapping political theory see:

Classical Liberalism • Capitalism • Anarcho-Capitalism • Libertarianism • Hoppeanism • Paleolibertarianism

Literature

Wikipedia

Videos

Channels

Online Communities

References

  1. ↑ Ludwig von Mises: A Scholar Who Would not Compromise by Fritz Machlup

Gallery

Comics

Portraits and Artwork

Alternative designs

  • Distributist Libertarianism

    Distributist Libertarianism

  • Distributist Libertarianism 2

    Distributist Libertarianism 2

Navigation

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