I think it was a good step forward in our understanding of economics at the time, and I think a lot of what was proposed by this school of thought has stood the test of time.
On the other hand, this is a bit like asking what you think of Newtonian physics. It isn’t necessarily “wrong”, but it isnt what any real expert things is true anymore. No real economist is actually an Austrian anymore (… except, yaknow, actual Austrians…) - they are just economists, who study economics as a science rather than cloistering themselves into rigid schools of thought.
I think it was a good step forward in our understanding of economics at the time, and I think a lot of what was proposed by this school of thought has stood the test of time.
On the other hand, this is a bit like asking what you think of Newtonian physics. It isn’t necessarily “wrong”, but it isnt what any real expert things is true anymore. No real economist is actually an Austrian anymore (… except, yaknow, actual Austrians…) - they are just economists, who study economics as a science rather than cloistering themselves into rigid schools of thought.