Philosophy and Methodology

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.

The transatlantic slave trade from Africa is a well-known chapter in the history of slavery in the Western Hemisphere, but much lesser known is the enslavement of Native Americans. Many of them were shipped to plantations in the Caribbean where they were worked to death.

This week on Friday Philosophy, Dr. David Gordon reviews The Price of Our Values by Augustin Landier and David Thesmar. While the authors claim that economists often substitute utilitarianism for moral values, they dismiss any idea of objective standards for morality.

Jonathan Newman joins Bob Murphy to explore what economics really is, why it matters, and how the revamped Mises Academy is helping teach it the right way.

Carl Menger wrote, “All things are subject to the law of cause and effect.” Unfortunately, modern academic economists all too often confuse correlation of economic phenomena with causality.

Part of bringing up young children is to tell them stories and accounts about people who did the right thing, and how they made life better for themselves and others. We can do the same with describing economic concepts, which don‘t have to be dry and boring.