Inappropriate Assumptions
The problem with conventional economics is that its rationalization for events is often grounded on hypothetical approximations that have no basis in fact. Hoppe is a little more challenging. In a paper comparing Keynes to Ludwig von Mises (an early Austrian “entrepreneurial” economist), Hoppe states that Keynesian economics, “like that ‘underworld’ tradition, is nothing but a tissue of logical falsehoods reached by means of obscure jargon, shifting definitions, and logical inconsistencies intended to establish a statist, anti-free market economy.”6