Praxeology and the Method of Economics

Tags: Philosophy and Methodology, Praxeology

04/29/2019 Jeff Deist Joseph T. Salerno

Dr. Joe Salerno joins Jeff Deist to explore another foundational topic: the method of economics. Mises developed praxeology, perhaps his most controversial contribution to economic science. Praxeology starts with fundamental axioms, then derives economic theory by working logically through a deductive process. As such, praxeology is at odds with logical positivism and empiricism—and presents a markedly different approach to economics.

Readings

Ludwig von Mises, The Ultimate Foundation of Economic Science

Ludwig von Mises, Human Action, Part One, Chapter II: “The Epistemological Problems of the Sciences of Human Action”

Murray Rothbard, “In Defense of Extreme Apriorism“

Hans-Hermann Hoppe, Economic Science and the Austrian Method

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