I am, fingers crossed, attending University in the Autumn to study Economics. Despite my relatively tender age I have been fascinated by the “dismal science” for years and from day one have leaned towards Austrian economics and its inherent simplicity in explaining economic phenomena. However, I am cautious about “outing” my adherence as I progress through college. It seems subscribing to Austrian economics is often met with derision, especially in Europe, where I suspect it is actively suppressed in academia. Would it not be better to infiltrate under the guise of being Neo-Classically Keynesian or whatever is expected? Just thought I’d ask the experts 
Why do you want to study economics if you already know economics?
How well are you familiar with the fallacies of Keynesian economics?
May I recommend you read: “The Failure of the New Economics” by Henry Hazlitt. I think once you do, you may actually be embarrassed to associate yourself with anything Keynesian. Your dilemma will no longer be.
Well, I don’t, at least to any meaningful or useful level. My knowlege consists of reading a few of Mises’ texts, Capitalism and Freedom, my secondary school curriculum (which is complete rubbish), Hayek etc.Not exactly extensive and most certainly not technical.
Besides, everybody needs a degree!
Every foray into mainstream macroeconomic literature that I make is akin to reading Lord of the Rings. The nonsensical nature of indiscriminately pursuing increased demand, the worship of the mul otiplier effect, the irrational fear of deflation etc. However, Austrian economics is firmly, and most significantly, well-grounded morally. I am fully convinced of Keynesianism’s destiny and history of failure but is it not better to advocate liberalisation and free-market reform from a nominal postion in the mainstream. Somewhat similar to what Greenspan did?
It’s not going to get any better in class.
Nice having an opportunity to be contentious though, instead of having that sneery idiot Krugman dictating to you on TV with impunity
LOTR is entertaining and makes some good points. You can hardly say the same thing about the academic trash that passes for ‘economics’.
Maybe get a degree in something useful? Or find a school that teaches good economics? Or teach yourself a trade.
Is College Worth It?
http://www.lewrockwell.com/north/north303.html
Why a College Degree Isn’t Worth It
http://www.nypost.com/seven/06282009…545.htm?page=0
http://digg.com/world_news/Why_a_Col…Isn_t_Worth_It
The Teenage Liberation Handbook: How to Quit School and Get a Real Life and Education
Trade? Housing output has imploded
Good economics school? In Europe? I don’t think they exist!!
Useful? My parents are civil servants…family tradition of being useless needs to be maintained
I would suggest that you try to ask the lecturers tough questions without showing any solid Austrian adherence until you are knowledgeable enough to have a legitimate Austrian leaning or adherence.
I believe that the above advice is valid for any situation in which your opinions are far outside the mainstream but you are not knowledgable enough to defend yourself within an academic atmosphere.
whats the worst that could happen, if you spoke the truth?
certainly it could happen you would find evidence that certain people dont want the truth. what exactly are you fearful of?
Don’t reveal your political or economic persuations. Carefully poke the fallacies in the mainstream literature, and people might eventually figure it out for themselves. (If they’re smart enough).
There is a tendency of people to dismiss things as being “extreme” and not to engage. For example, I think Supply-side has done more to advance freedom in modern times than the Austrian school has due to it being disregarded as heterodoxical. I am not familiar with academia but it is certainly true in politics
so the worst thing that could happen would be a good number of people would not ‘engage with you’ .
nightmare [:P]
It is precisely because there is a homogenous orthodoxy that austrians need to challenge, its not because there is one that they should not…
Quite the contrary! All it did is associate the failed statist policies of the Conservatives with free markets. Now we have a bunch of people saying: Well, we tried the free market ideology, now it’s time for a more progressive change.
All change has to be incremental in a democracy, therefore a move towards a classically liberal economy would have had a hiccup just like the present crisis. Then the Austrian school would have been painted with failure. Supply-side was like a sacrificial lamb. We enjoyed rapid economic growth in Ireland, thanks to the low-tax drive and liberalisation. Without Laffer etc. this would not have happened and poverty would be more widespread (and we would be still no nearer to achieving free-markets)
Learning ‘a trade’ means learning a skill / an occupation.
From our perspective, a trade is something that Polish migrants do for terrible wages.