Discover and read the best of Twitter Threads about #AustrianSchool
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Last week on episode 85 of the #E4Epod with @PerBylund, we urged entrepreneurs to consider the insights of the Austrian school of economics versus those of Business School. Here are some of the #austrianschool vs. #businessschool highlights: 
The Austrian school of #economics helps #entrepreneurs understand how #markets really work, enabling them to think better about running their businesses. B-schools train managers for management positions and tasks in large corporations.
Austrian school thinking and analysis is original, deduced via rigorous cause-and-effect realism. Business schools borrowed from other disciplines in the university, like sociology, psychology, and economics.
'Pulling #consumption forward' is an unhelpful euphemism for 'engaging in #capital consumption': more graphically, 'writing cheques the people can't cash'.
Self-sustaining #growth requires coherence between consumption & production not just today, but over time.
1/x #centralbanks
Self-sustaining #growth requires coherence between consumption & production not just today, but over time.
1/x #centralbanks
That latter is difficult enough to achieve without #centralbankers & policy-makers in general trying to impose their own vision of the balance (one always narrowly biased to the present) on a system composed of billions of interacting needs & preferences.
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#bankofenfgland
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#bankofenfgland
The unavoidable (Rumsfeldian) uncertainty -as well as the calculable risks- is made much greater when every fluctuation today -itself a direct result of IN-coherence, largely inflicted from above- is greeted with yet another blunt-force trauma assault on the capital structure
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