[ An Austrian Perspective on the History of Economic Thought (1995)] A particularly outstanding feature of J.B. Say’s treatise is that he was the first economist to think deeply about the proper methodology of his discipline, and to base his work, as far as he could, upon that methodology. From previous economists and from his own study, he
[Day 13 of Robert Wenzel’s 30-day reading list that will lead you to become a knowledgeable libertarian, this article is excerpted from The Logic of Action One: Method, Money, and the Austrian School (Cheltenham, UK: Edward Elgar, 1997), pp. 58–77. It appeared on LewRockwell.com Praxeology is the distinctive methodology of the Austrian School. The
[ Man, Economy, and State, with Power and Market ] The analysis in chapter 1 was based on the logical implications of the assumption of action, and its results hold true for all human action. The application of these principles was confined, however, to “Crusoe economics,” where the actions of isolated individuals are considered by themselves.
I. The saying that things may work nicely in theory, but do not necessarily work in practice is well known. It is typically meant to disparage the importance of theory, suggesting it would be too far removed from practical matters to help in solving the issue at hand. The Prussian philosopher Immanuel Kant (1724–1804), in his 1793 essay “On the
Steven Horwitz has an essay up at Cato protesting that, contrary to common perception, “modern” Austrian economics is actually very empirical. Much of his argument stems from his treatment of economic history as being a subset of economics , in stark contrast to Mises’s position that There is economics and there is economic history. The two must
[This article is excerpted from chapter 39 of Human Action: The Scholar’s Edition and is read by Jeff Riggenbach. An MP3 audio file of this article, narrated by Jeff Riggenbach, is available for download .] 1. Science and Life It is customary to find fault with modern science because it abstains from expressing judgments of value. Living and
[ Human Action (1949)] Liberalism, in its 19th-century sense, is a political doctrine. It is not a theory, but an application of the theories developed by praxeology and especially by economics to definite problems of human action within society. As a political doctrine liberalism is not neutral with regard to values and the ultimate ends sought
[ Living Economics: Yesterday, Today, and Tomorrow . By Peter J. Boettke. Independent Institute — Universidad Francisco Marroquin. xx + 435 pages] This notable book collects 22 articles by Peter Boettke; 8 of these have been written in collaboration with others, including Peter Leeson, Christopher Coyne, Steve Horwitz, David Prychitko, and
Although Leland Yeager calls himself a fellow traveler of the Austrian School (p. 100), rather than a full-fledged member of it — he is a fellow traveler of the Chicago School as well — no reader of his essays can fail to note one respect in which he resembles two quintessential Austrian economists, Ludwig von Mises and Murray Rothbard . Like
One of the most important factors that inhibited the study of praxeology for the last 60 years was Friedrich Hayek’s argument that praxeology is inapplicable to the study of market phenomena. His argument against praxeology (which he called the “Pure Logic of Choice”) is relatively simple. The pure logic of choice, as Hayek understood it, entails
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.