Why do Libertarians also support Austrian economics? (1 Viewer)

[peikoff]

Question to all the libertarians.

Why do so many of you believe austrian economics to be true? It seems like there is no causal connection between a moral/political philosophy and the true nature of economic exchange. saying "I believe Austrian economics because I am a libertarian" is like saying "I believe Paris is in France because I am a libertarian". in both cases the truth of libertarianism has no bearing on whether austrian economics is true.

My suspicion is that people are morally libertarian and then just seek out an economic theory that will back up what they say. But this also seems silly.

If you are deontological or "rights based" oriented in your justification of libertarianism then it shouldn't matter whether austrian economics is true because you only care about rights, thus even if Keynes was right you wouldn't care because you just want to protect rights. And hence for all your grand standing about the fed etc, you dont care at all about these issues, you just care about rights (not that there is anything wrong with that)

If you are a utilitarian then why so much talk about "immoral wars", "taxation is theft", none of this is morally relevant, only net utility is and this can be increased through taxation etc.

Like I say, I believe that people seek any justification for their preexisting beliefs and are willing to support some academically shunned and empirically nonviable thesis in order to do so.

But anyway, to the libertarians, why do you support austrian economics

 

[scuba_steve2121]

Question to all the libertarians.

Why do so many of you believe austrian economics to be true? It seems like there is no causal connection between a moral/political philosophy and the true nature of economic exchange. saying "I believe Austrian economics because I am a libertarian" is like saying "I believe Paris is in France because I am a libertarian". in both cases the truth of libertarianism has no bearing on whether austrian economics is true.

My suspicion is that people are morally libertarian and then just seek out an economic theory that will back up what they say. But this also seems silly.

If you are deontological or "rights based" oriented in your justification of libertarianism then it shouldn't matter whether austrian economics is true because you only care about rights, thus even if Keynes was right you wouldn't care because you just want to protect rights. And hence for all your grand standing about the fed etc, you dont care at all about these issues, you just care about rights (not that there is anything wrong with that)

If you are a utilitarian then why so much talk about "immoral wars", "taxation is theft", none of this is morally relevant, only net utility is and this can be increased through taxation etc.

Like I say, I believe that people seek any justification for their preexisting beliefs and are willing to support some academically shunned and empirically nonviable thesis in order to do so.

But anyway, to the libertarians, why do you support austrian economics

Idk I think i might be a who came first chicken or the egg situation in some cases. I was taught about the Austrian school and it seemed to be in comparison to all school of thought, the one that made sense, than my morality developed as a result.

if that makes me a libertarian than so be it

 

[peikoff]

Scuba,

That's interesting to hear, I wonder though, how did the truth of austrian economic inform your morality? Are you a utilitarian or do you believe in rights, given the two are mutually exclusive I just wonder what side you fall on.

 

[funkshen]

My suspicion is that people are morally libertarian and then just seek out an economic theory that will back up what they say. But this also seems silly.

But why is this silly? Your distinction between a theory of the "true nature of economic exchange" and moral/political philosophies is clearly false. If one is a rights-based libertarian, than one will not adhere to an interventionist economic theory. And there are utilitarian arguments for the absence of government intervention.

given the two are mutually exclusive

They are not mutually exclusive. One is merely subordinate.

 

[cheese_cheese]

Some people (libertarians) are just plain stupid.

 

[peikoff]

But why is this silly? Your distinction between a theory of the "true nature of economic exchange" and moral/political philosophies is clearly false. If one is a rights-based libertarian, than one will not adhere to an interventionist economic theory. And there are utilitarian arguments for the absence of government intervention.

You are right and that is precisely my point. I find it an extraordinary coincidence that someone who is a rights based libertarian would believe austrian economics. I was saying that the truth of each thing is so unrelated that the fact that moral beliefs and economic beliefs match is, to me, indicative that someone has not thought their economic beliefs through very well and sees asutrian economics as a cheap justification for their moral beliefs. But the truth of an economic theory has no causal influence on the truth of a meta-ethical moral theory (of course it might for a normative theory). I am simply curious as to why libertarians believe this stuff, and if the answer is that "well it gives me grounds for believing libertarianism" then that is improper, grounds for belief must be chronologically prior to belief (yes there are exceptions, a justified belief being reinforced by new evidence etc). But even then, is utilitarian or deontological? It cannot be both and libertarians seem to exploit both in their moral diatribes.

 

[funkshen]

One has beliefs and one seeks to confirm them. One is, in fact, biased towards confirming pre-existing beliefs, as I'm sure you know. But I too am curious.

Some believe that moral knowledge is possible, some don't. And I'd argue that while the truth of an economic theory has no causal influence on the truth of a meta-ethical moral theory, moral knowledge does have a causal influence on economic theory.

 

[Lolsmith]

I do not know enough about Austrian economics to comment on this issue

 

[Lolsmith]

but that being said I don't believe in government intervention in basically anything because the State has no legitimacy to steal my money

if anyone could opt out or opt in to the State, that would be a different story

 

[funkshen]

I do not know enough about waffles but I know they tasty

 

[Lolsmith]

yeah basically

also wow that was really dumb

"I don't know enough to comment on this issue

now here's my comment on this issue"

 

[Chemical Ali]

"I don't know enough to comment on this issue

now here's my comment on this issue"

With skills like that you should work for News Limited

I think I said that before once

 

[funkshen]

Now, I'm not qualified to comment on this issue, but if you'll forgive such a heinous transgression.

words

look at me ma im a jurnalist

 

[Lolsmith]

With skills like that you should work for News Limited

I think I said that before once

yeah you did but that requires a very serious level of effort to maintain that stupid

 

[antonio primo]

hey its peikoff

this is cosmo kramer remember me you recommended that i read the bell curve a long time ago (i had way before you recommended it to me)

i liked you

 

[Chemical Ali]

the fundamental 'thing' in human life is the economy, everything like politics and morality and philosophy follow from that...

guess who said that ^_^

 

[antonio primo]

smells like karl marx

this forum is full of homo econimuses