<oembed><type>rich</type><version>1.0</version><title>resistancemoney wrote</title><author_name>resistancemoney (npub1ye…dawc7)</author_name><author_url>https://yabu.me/npub1yezu4atsdgchvlyjz5efwks8n7ze2rssq674qe04m5pp8e5y32tqfdawc7</author_url><provider_name>njump</provider_name><provider_url>https://yabu.me</provider_url><html>Austrian economics stans would do well to drop the victimhood over being ignored, and instead claim victory, because the best of that tradition — above all, its microeconomic insight — was so well-integrated into mainstream economics.&#xA;&#xA;You don&#39;t get Alfred Marshall and supply and demand charts, or neoclassical price theory, without Carl Menger (both a marginalist and an Austrian) and the subjective theory of value. Price lies at the intersection of supply and demand — i.e., subjective valuations.&#xA;&#xA;Price theory as we know it now doesn&#39;t ignore what the Austrians learned. Instead, it gives it all more rigorous foundations and expression using calculus.&#xA;&#xA;And fergodssake, Hayek won a Nobel prize (shared), and remains one of the most widely quoted and cited economists, by economists, to this day.&#xA;&#xA;Mises, I&#39;ll concede was &#34;quietly buried&#34;.&#xA;&#xA;Imagine an Aristotle scholar complaining that logic classes don&#39;t focus on categorical syllogisms anymore. Of course they don&#39;t; we can do all that and more, now, using Fregean and post-Fregean notation and mathematics. We see the superset now, and teach it first.</html></oembed>