Mostly Economics経由のオーストリア学派関連論文をもう二丁。一つは、アリゾナ州立大のScott Scheallによる「Complexity, Policymaking, and The Austrian Denial of Macroeconomics」。以下はその要旨。

Economists associated with the Austrian School of Economics are known to deny the value of macroeconomics as descended from the work of John Maynard Keynes and, especially, his followers. Yet, Austrian economists regularly engage in a related scientific activity: theorizing about the causes and consequences of economic fluctuations, i.e., the business cycle. What explains the Austrians’ willingness to engage in theorizing about the business cycle while denying the scientific import of macroeconomics? The present paper argues that the methodological precepts of the School, which have remained largely in place since Carl Menger first pronounced them at the start of the Methodenstreit, justify the kind of business-cycle theorizing that Austrians do and imply the limited scientific value of macroeconomics as descended from Keynes.
経済学のオーストリア学派に属する経済学者は、ジョン・メイナード・ケインズの研究ならびにとりわけ彼の信奉者の研究に端を発したマクロ経済学の価値を否定することで知られている。しかしながら、オーストリア学派の経済学者は、それと関連する科学活動を常に行っている。経済変動、即ち景気循環の原因と結果の理論化である。マクロ経済学の科学的重要性を否定する一方で、景気循環について理論化しようとするオーストリア学派の意図はどのように説明されるのか? 本稿は、同学派の方法論上の教えについて論じる。その教えは、方法論争*1の開始時にカール・メンガーが最初に明確化して以来、概ねそのままの形を保っており、オーストリア学派が行っているようなタイプの景気循環の理論化を正当化し、ケインズに端を発するマクロ経済学の科学的価値が限定的であることを含意する。


As an attempt to come to grips with some massively complex phenomena, ABCT explains the principle that gives rise to, and predicts patterns to be observed in, business-cycle phenomena, but it does not aspire to a full explanation or a precise prediction of particular instances of the trade cycle. Indeed, an implication of the theory and the methodological principles upon which it is built is that such explanations and predictions are beyond the ken of cognitively limited human beings. Built upon the methodological principles of theoreticism, individualism, and subjectivism, as well as a profound appreciation of the limitations that complexity places on the possibilities for explaining and predicting, and, therefore, controlling via political means, business-cycle phenomena, there is little prospect that Austrian Business Cycle Theory could ever serve as a tool of political mischief, unlike the oversimplified methods of macroeconomics that encourage economic policymakers to pretend to knowledge they do not possess.

もう一つは、ミドル・テネシー州立大のDaniel J. Smithによる「Austrian Economics as a relevant research program」。以下はその要旨。

What is the relevancy of modern Austrian economics? Austrian economics, from its origins, has attempted to push economics towards greater relevance by developing and refining a methodological approach that enhances the operational validity of its scientific conclusions for decision-making in the real world. In a theoretical paradigm, this led to the development of theoretical insights on significant economic phenomena often excluded from static economics models. As the economics profession took an empirical turn, modern Austrian economics has demonstrated its continued relevancy through empirical methods that apply economic theory to pressing, long-standing policy issues.
現代オーストリア学派経済学の意義は何だろうか? オーストリア学派経済学は、その最初から、現実世界における意思決定についての科学的結論の実践的有効性を増すような方法論的アプローチを発展させ洗練させることで経済学の重要性を高めようとしてきた。理論パラダイムにおいてそのことは、静学的な経済モデルからはしばしば除外されてきた重要な経済現象についての理論的洞察の発展につながった。経済学者が実証志向に転じるにつれて、現代オーストリア学派経済学は、差し迫った長期に亘る政策問題に適用される実証的手法を通じて、今も続くその重要性を示してきた。

Mostly Economicsは論文から以下の一節を引用している。

…what I mean by relevance is specifically that we do scientific research with policy relevance and that we arrive at scientific conclusions that do not rely on limiting assumptions to the extent that would lead to potentially adverse unintended consequences if used today or in the future, as a basis for real-world decision-making (see, for instance, Munger 2022). It is the distinction, according to Radomysler (1946, p. 198), “between theory that does apply to reality and theory that does not.” An academic can eschew public policy and be wholly concerned only with long-standing problems in political economy but still seek to produce relevant research under this definition.