The claim that one’s perspective is “better” is just a claim. The claim can certainly be substantiated by a well-reasoned argument.
Now that you’ve explained your claim, I get it. I definitely view money as such a mechanism. I don’t think I said anything to the contrary of that in the video, but I certainly appreciate the perspective.
Economics is a pretty well-established science, and I’d say the Austrian school does a hell of a lot more than “predicting the future.”
Economics is just the study of the realities of scarcity, supply and demand, etc.
Economy is a very real part of life. In fact, economics is everywhere and in everything.
Do we have enough hot dogs for everyone at the cook out?
Will there be enough water for the garden if a dry spell comes?
These are economic concepts. This is what I was getting at in the video.
of course, everything is- economics, like you say.
( I was viewing it more on the macro/engineering of societies level)
I totally disagree.
I can tell you that next year on April 1st, if I drop an apple from my hand, what the exact velocity of the apple will be, when it hits the ground...
Now if you could tell me on any given date next year, when an economic event will happen, with the result known before the event - I'll concede the argument..! lol
Of course as economics deals with unpredictable realities (I don’t know where you are getting the notion that economics is all about predictions, though), it is not the same as natural science. The praxeological realities it deals with are very concrete, however.
You understand that things like psychology, sociology, etc, are sciences as well, right?
Why do you imagine the study of economics to be a mere prediction of future events?