Philosophy and Methodology

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Ludwig von Mises

The workers were never enthusiastic about socialism. Socialism was brought to the masses by intellectuals of bourgeois background, dining and wining together in the luxurious London homes and country seats of late Victorian "society."

Murray N. Rothbard

The praxeological method was the basic method of the earlier Austrian school and also of a considerable segment of the older classical school.

Per Bylund

Efficiency is backward-looking and static, while value creation is future-oriented and aspirational. 

Walter Block

Austrian economics diverges in several important ways from that followed by our colleagues in the mainstream of the profession.

Carl Watner

John Locke was ridiculed for suggesting that people "consent" to their government by not emigrating. Hume suggested this theory could be used to claim consent for even the most outrageous tyrants.

Frank Shostak

The experience with which the sciences of human action have to deal is always an experience of complex phenomena. No laboratory experiments can be performed with regard to human action.

David Gordon

People criticized economics and said “well, there’s something wrong with Austrian economics because it doesn’t depend on verifying things empirically,” Mises wanted to come up with a reply to that, so that was what really got him into philosophy.

Jim Fedako

Because enforced contract law and full property rights are the foundations of freedom, governance systems should be based on enforceable contracts that defend property rights.

Chris Calton

The true aim of these “scholar activists,” as many academics have begun calling themselves, is to propagate socialism by redefining capitalism to encompass every evil of human history. Which means they're mostly attacking straw men.

Murray N. Rothbard

It becomes evident from Richard von Mises's fundamental work that mathematical probability theory can never be applicable to economics, or to any other study of human action.