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Austrian Economics emphasizes
market forces, individual choice, and the business cycle caused by credit expansion. It opposes government intervention. Keynesianism, or Keynesian Economics, focuses on government intervention during economic downturns to stimulate demand. Austrian economists may request empirical evidence to support theories, but their emphasis is on logical consistency. Steve Keen and Lex Fridman have discussed Austrian Economics, providing insights into its principles and distinctions from other economic schools.
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