@til Today I learned that the Austrian School of Economics, on which our current economic models are based, is not itself based on empiricism and in fact argues that it should not be based on empiric studies at all but on thought experiments. https://en.wikipedia.org/wiki/Praxeology#Austrian_economics
No, current economic model isn’t based on the Austrian School of Economics.
I mean this could vary state by state but largely its base on kensyian or post kensyian model