gr01 finance01 Peters praises the Austrian School for its recogn

http://mises.org/journals/qjae/pdf/qjae7_1_8.pdf

Peters praises the Austrian School for its recognition of the diversity and uniqueness

of market participants, supporting a more realistic economics. Investors, for

example, are not all alike—each has a unique and subjective combination of time horizon

and risk tolerance. In contrast, mainstream and Keynesian economics ignore differences

among individual agents by assuming, for simplicity and analytical convenience,

that everyone is identical, or that differences among market participants do not

matter and can be ignored.