Philosophy and Methodology

Thanks to politics, confirmation bias, and bad monetary economics, central banks have a lousy record when it comes to economic forecasts. 

The Marxist dialectic was purported to explain every development in Soviet society. But so much wishful thinking was required that eventually it all just became a subject for jokes.

Mises defends praxeology using philosophical minimalism, that is, by sticking to the core fact that people act and make choices.

Mises defends praxeology using philosophical minimalism, that is, by sticking to the core fact that people act and make choices.

Though he was generally a Ricardian, John Stuart Mill thought that the main obstacle to socialism is that people might not yet be civilized enough to put it into practice. 

Yes, capitalism is more efficient than socialism, but to build a compelling argument for free market capitalism, defenders of liberty must also articulate that it is a superior moral system.

Human action cannot be analyzed in the same way that one would analyze objects. These quantitative methods do not improve our knowledge of the driving causes in economics.

Human action cannot be analyzed in the same way that one would analyze objects. These quantitative methods do not improve our knowledge of the driving causes in economics.

If you say to someone that he won’t get what he is aiming for by using the means he has chosen, you aren’t making a value judgment yourself. You are making a strictly scientific statement.