The Ultimate Foundation of Economic Science

From the praxeological point of view it is not possible to question the real existence of matter, of physical objects and of the external world. Their reality is revealed by the fact that man is not omnipotent. There is in the world something that offers resistance to the realization of his wishes and desires. Any attempt to remove by a mere fiat what annoys him and to substitute a state of affairs that suits him better for a state of affairs that suits him less is vain. If he wants to succeed, he must proceed according to methods that are adjusted to the structure of something about which perception provides him with some information. We may define the external world as the totality of all those things and events that determine the feasibility or unfeasibility, the success or failure, of human action.

The much discussed question whether physical objects can or cannot be conceived as existing independently of the mind is vain. For thousands of years the minds of physicians did not perceive germs and did not divine their existence. But the success or failure of their endeavors to preserve their patients’ health and lives depended on the way germs influenced or did not influence the functioning of the patients’ bodily organs. The germs were real because they conditioned the outcome of events either by interfering or by not interfering, either by being present in or by being absent from the field.