Philosophy and Methodology

It is one thing to understand economics and quite another to be able to explain how economics works. Those who favor free markets also need to be able to explain and defend them.

College professors have suddenly discovered entrepreneurship and are teaching about it in their classes. However, while it is an interesting subject, one cannot teach someone how to be a successful entrepreneur. 

College professors have suddenly discovered entrepreneurship and are teaching about it in their classes. However, while it is an interesting subject, one cannot teach someone how to be a successful entrepreneur. 

In this week‘s Friday Philosophy, Dr. David Gordon looks at the methodology of Timothy Williamson. While Williamson might not like the implication, Dr. Gordon notes that Williamson‘s methodology can be used to defend the epistemological views of Murray Rothbard.

Influenced by the writings of the great Frederic Bastiat, Vilfredo Pareto promoted free markets and economic liberalism in 19th-century Europe. Pareto also made a number of important contributions to economic theory and practice.

Marxism has seeped into politics, education, and religion—reducing human action to class and race. Mises offers a more accurate understanding of how humans act.

Modern neoclassical economics is based upon the physical sciences, which Austrian economists recognize is an inappropriate way to explain economic phenomena. Ludwig von Mises recognized this fraudulence, calling it “scientism.”

Herbert Spencer is best known for the term, “Social Darwinism,” but his writings on free markets and law remain brilliantly relevant today. While not included in the Pantheon of Austrian economists, nonetheless his work influenced Austrian scholars.

In today‘s Friday Philosophy, Dr. David Gordon looks back upon the ethical views of the late Alasdair MacIntyre. While praising MacIntyre‘s work, Dr. Gordon points out that he never abandoned his Marxist views of economics, making much of his philosophical thinking crucially deficient.

Keynesian “economics” is not just wrong; its precepts are not just based upon fallacies but also on lies. Since Keynes self-described as an “immoralist,” we shouldn‘t be surprised that his economics is immoral, too.