that high levels of government spending harms an economy and "a generous social-welfare state is not a road to serfdom but rather to fairness, economic equality and international competitiveness". Economist Bryan Caplan has noted that Mises has been criticized for overstating the strength of his case in describing socialism as "impossible" rather than as something that would need to establish non-market institutions to deal with the inefficiency. Methodology Critics generally argue that Austrian economics lacks scientific rigor and rejects scientific methods and the use of empirical data in modelling economic behavior. Some economists describe Austrian methodology as being a priori or non-empirical. Economist Mark Blaug has criticized over-reliance on methodological individualism, arguing it would rule out all macroeconomic propositions that cannot be reduced to microeconomic ones, and hence reject almost the whole of received macroeconomics. Economist Thomas Mayer has stated that Austrians advocate a rejection of the scientific method which involves the development of empirically falsifiable theories. Furthermore, economists have developed numerous experiments that elicit useful information about individual preferences. Although economist Leland Yeager is sympathetic to Austrian economics, he rejects many favorite views of the Misesian group of Austrians, in particular "the specifics of their business-cycle theory, ultra-subjectivism in value theory and particularly in interest-rate theory, their insistence on unidirectional causality rather than general interdependence, and their fondness for methodological brooding, pointless profundities, and verbal gymnastics". Economist Paul A. Samuelson wrote in 1964 that most economists believe that economic conclusions reached by pure logical deduction are limited and weak. According to Samuelson and Caplan, Mises' deductive methodology also embraced by Murray Rothbard and to a lesser extent by Mises' student Israel Kirzner was not sufficient in and of itself. Business cycle theory Mainstream economic research regarding Austrian business cycle theory finds that it is inconsistent with empirical evidence. Noted economists such as Gordon Tullock, Milton Friedman and Paul Krugman have said that they regard the theory as incorrect. Austrian economist Ludwig Lachmann noted that the Austrian theory was rejected during the 1930s: Theoretical objections Some economists have argued that Austrian business cycle theory requires bankers and investors to exhibit a kind of irrationality because the Austrian theory posits that investors will be fooled repeatedly (by temporarily low interest rates) into making unprofitable investment decisions. Milton Friedman objected to the policy implications of the theory, stating the following in a 1998 interview: Empirical objections In 1969, Milton Friedman examined the