Austrian economists have long criticized using mathematics to undergird economic analysis. It is time to apply that same criticism to using math to undergird analysis of financial markets.

The economic doctrine of “externalities” has become an excuse for governments to intervene economically in heavy-handed ways, all in the name of “saving” the environment.

Much of mainstream economics holds to the Efficient Market Hypothesis (EMH), which is built on highly unrealistic foundations. The Austrian causal-realist approach has more explanatory power.