One of the most crucial applicable lessons from the analytical realism of the Austrian School of Economics is that acting based on illusions will always take revenge on the active – and the longer it takes, the more painful revenge will be.
The most standard example of the above fact is, of course, the Austrian business cycle theory, which states that attempts to build economical improvement on the basis of the credit generated from the air by the banking strategy (instead of the real savings resulting from earlier productivity) must end with the accumulation of investment errors and a wave of severe bankruptcies marked by the recession.
Another alternatively textbook example is the question of the alleged abroad aid – if you are trying to bring about a simple overeating corruption and deprived of mature marketplace institutions a third-world country with immense amounts of money (mostly from the pocket of a abroad taxpayer), then the possible short-term appearances of success will always give way to a long-term defeat in the form of dictatorial stagnation or civilian war.
There are besides little obvious, but not little crucial casuses in this context. If, for this reason, respective years of assimilation of useless or even ideologically misleading information as part of obtaining the alleged higher education identifies itself instinctively with obtaining a valuable "intellectual capital", then it is highly likely only a "legislature capital" which, like a decreed credit, proves incompatible with the existing production structure, resulting in economical stagnation or collapse.
Similarly, political and corporate attraps of social capital, specified as "ESG standards“ whether the "DEI directives"* do not in any way build lasting trust on the part of customers, and, in fact, by generating ideological confusion and bureaucratic ravaging, they make it hard to build akin trust by companies taking concrete, credible actions perceived by the local community.
In conclusion, there is absolutely no shortcut to development, prosperity, education, productivity or good reputation, and any reinforcement in this context by decreed esatzs must have the other effect. There is no intellectual tradition which would emphasize this fact as clearly as the Austrian school of economics along with its deep logical and, as it turns out, besides anthropological realism.
Jakub Bożydar Wiśniewski
* English abbreviation DEI – diversity, equality and inclusion (Diversity, Equity & Inclusion)
