[mistermann]

I'd suggest any unwillingness to make specific mathematically testable predictions is correct acknowledgement that the field is too complicated to do so. As I've said, you can make a model and tweak it by picking and choosing inputs until you can make it successfully back test with historic data, but any comprehensive correctness is likely tenuous if not specious.

Having a complex model that appears correct but is actually wrong is quite dangerous. Observe long term charts (debt, debt to gdp, etc) in various countries throughout the world. We're told by economists and the federal reserve in very serious tones using large words and complex models that everything is all figured out, but the charts continue to get worse. Even during the glorious Clinton years of supposed robust surpluses, debt increased every year. Hindsight being 20/20, we now know we were just in a bubble.

Austrians speak in broad principles rather than specific mathematical formulas, and in my opinion, their broad (vague) predictions of what will happen if you do <x> are far closer to honest reality than any other camp.