Michael Snoyman on Nostr: The example I gave would be one. We like to understand what changes will lead to ...

The example I gave would be one. We like to understand what changes will lead to which outcomes. There’s value in understanding that a change in payment technology or consumer behavior may result in an increase in average prices, for example. It helps us make intelligent business planning decisions, as well as providing useful models for understanding history. That can be vital in shooting down BS monetary theory from the Keynesian side.

To make sure I’m being clear, I’m not disagreeing with your statements overall. I’m simply trying to understand if I’m correct that Austrian economics generally doesn’t use this paradigm and, if that’s the case, how they would explain changes in the economy that a Keynesian would attribute to velocity of money.