I never understood this…i have educated myself on the principals of austrian economics and really the principals and theories of Austrian Economics are infaluable… Everytime i argue with my Economics proffessor in regards to Economics such as unfair competition and the necessity of government in certain industries i am able to just completely trounce him..needless to say he dosent call on me anymore lol…but why exactly do we not have Austrian Economists in the media and in more universities…I remember watching the presidential debate and being absolutely disgusted by the ignorance of both canditates of economics and not a single CNN anaylizer said anything about it…Austrian Economics is so easy to trounce someone in a debate with, its really not even funny… so why exactly isnt it more prevalent?
I don’t know. I learned that Austrian Economics existed through Google and now I post here every day. Perhaps because from the little I have seen it goes too far in advocating the end of all government, but I don’t know if that is really Austrian Economics or just the opinion of a number of contributors to this forum.
You answer your own question. The pay checks of the people that “inform” us about economics (professors and journalists) are paid either directly by the government or failing that by somebody who has a vested interest in the government. And as you pointed out Austrian economics teaches us that we don’t need the state and all is can ever do is harm society (which is does merely by existing).
If you look at mainstream economics you’ll see a bunch of nonsense that is difficult for most people to understand, coming out with false conclusions. That’s exactly why it is favoured by the state, it obfuscates the truth whilst pretending to be “scientific” and can ultimately be used to justify just any of the governments policies, especially because it’s methodology completely disregards the individual. The same cannot be said of Austrian economics and this can be seen in the fact that just about every Austrian is either an anarchist or a “minarchist”.
Ultimately it’s because Austrian economics leads to the truth and the state has a vested interest in keeping the truth from its subjects.
Well alot of Austrian economist advocate anarcho-capitalism, but there are a few minarchist Austrian economist. I am a minarchist and I am sure there are a few others here as well.