Daily Article
Saturday, July 05, 2008
by
Ludwig von Mises
In this very important chapter of Human Action, Mises explains the subject matter of catallactics; this is what most people have in mind when they talk of economics. Mises also discusses the specific method that the theoretical economist must use, namely imaginary constructions. Finally Mises describes some of the more important imaginary constructions, especially the evenly rotating economy.
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