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The Austrian school is the school of all the great economists including hazlitt, hayek, and mises.
the austrian school has been discredited because they don't believe in scientific method and are into magical thinking...
like most randians.
there is nothing "great" about the people you mentioned.
No they base their thought on individual behavior which can change, therefore extracting mathematically meaningful models does not work. It is more based in viewing what confidence individuals have in a product or the economy in general and how that will influence their buying. No magic to it, unless you consider Psychology magic.