
Matt McCaffrey
Austrian-school economist and Senior Lecturer in Entrepreneurship at the University of Manchester's Alliance Manchester Business School; Mises Institute Fellow and Frank Fetter scholar.
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Sep 22, 2026
Matt McCaffrey Uncovers Frank Fetter's Lost Book
18:20
18:35
19:00
35:33

Matt McCaffreyGUEST
No, but it's, it's, it's a good point, and a lot of economists do think this way, and I think it's because of the difference between, uh, it's a confusion of sort of the methods of the natural sciences and the methods of the social sciences, and this is a theme that obviously Austrians have written about quite a lot of the, over the decades.

Matt McCaffreyGUEST
Uh, but just very quickly, in natural sciences, if we proceed by hypothesis testing, experimenting, and so on, then it makes more sense to think that we would constantly be making progress and discarding errors and making d- making new discoveries and so on.

Matt McCaffreyGUEST
The same kind of empirical methods, uh, are not relevant, uh, as in the national, uh, as in the natural sciences.
16 MINS LATER

Bob MurphyHOST
Anyway, do you w- Can you give us a taste of that? I d- Like I said, I don't mean to put you on the spot.