[imtringued]

From what I can tell there is no absolute rule that one economic theory always applies. You can consider these interpretations to be a collection of tools in a toolbox.

Some salesmen try to sell their own tool box set as the best that will solve all your problems when the truth is you must use the right tool for the right problem.

For example Austrian economics can be the right tool if you have an economy that is suffering from high inflation. Let's take a look at Greece [0]. Inflation peaked at 6% in 2008. You can call that high but most economies that suffer from the negative effects of inflation have double digit inflation. Inflation fell straight to -2% in 2014. It certainly doesn't look like the type of economy where Austrian economics would be the right tool.

However, if you were to use Austrian economics in say Argentina [1] you could certainly speed up the economic recovery. It certainly has a place on earth but not in most first world economies.

[0] https://tradingeconomics.com/greece/inflation-cpi [1] https://tradingeconomics.com/argentina/inflation-cpi