Why is Austrian Economics a Hoax ?

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Why is Austrian Economics a Hoax ?
« on: October 24, 2015, 12:03:23 PM »
Why is Austrian Economics is a Hoax ?

Well for a start it is part of the Neo-Classical Economics, which can be summarized has having 3 pillars

(1) we make rational economic choices and these can assigned values

(2) we maximize utility and companies maximize profits

(3) we act independently on the basis of full and relevant information