Our current economic malaise was forecast and has been explained by only one “school” of economic theory: the Austrian.
One other “mainstream” school–the Keynesian Model–continues to fumble around with empirical data in a quest to venture 
conjecture constantly refuted by that pesky little thing called “history.” The Keynesians, each to each, may vary in their opinions on government size and the amount of monetary inflation; however, they are lock-stepping, hand-in-hand, on a quest for that ever elusive mathematical model. It’s a thought experiment confined in a hermetically-sealed “statist” box. They’ve abandoned their logic for faith in bizarre assumptions.
Austrian Economic Theory was founded on an understanding that the human ability to act combined with the natural desire to survive leads to a purposeful action. Humans act with purpose! Meddling in the affairs of folks acting towards a purpose only gums-up the purpose and the very folks trying to act on it. Interlopers butting in between other people who have agreed to cooperate for their mutual benefit are obstructionists at best and deal killers at worse. There may be compromises as individuals adapt to the force of those interventions allowing for diminished satisfaction, but the end results are inevitably spoiled. The Keynesian Cultists see humans as guinea pigs to be experimented on.
