Praxeology

Displaying 11 - 20 of 401

Behavioral Economics Challenges the Rationality of Consumer Choices

Praxeology

Blog12/29/2022

While behavioral economics claims to be an effective way of measuring individual economic behavior, it actually sets back authentic economic analysis.

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Objection, Professor Harari! Logic Proves the Existence of Free Will

PhilosophyPraxeology

Blog12/27/2022

Yuval Noah Harari, who teaches history at Hebrew University in Jerusalem, denies that free will exists. However, to deny free will is to deny human action itself.

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Facts and Data Have No Meaning without a Theory to Explain Them

Capital and Interest TheoryPraxeology

Blog11/04/2022

Mainstream economists claim that data alone can explain economic actions. Austrians know that without theory, data explains nothing.

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Misunderstanding Mises, Again

SocialismPraxeology

Blog11/02/2022

After praising Mises for his work on socialism, Tyler Cowen goes on to claim Human Action is "cranky and dogmatic." "Brilliant and insightful" would have been more truthful.

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Law, Praxeology, and Unintended Moral Decay

LawPraxeology

Blog10/25/2022

Murray Rothbard understood that law can be a moral force only insofar as those living under the law reflect their own moral judgments.

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What Do Supply and Demand Curves Really Tell Us? Not Very Much

PraxeologyPricesProduction Theory

Blog10/15/2022

It is easy to think of supply and demand curves as being key to economic analysis. In reality, they can't tell us much, and emphasizing them actually stands in the way of better understanding economic processes.

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The Left's Attacks on Mises Continue to Miss

LiberalismPolitical TheoryPraxeology

Blog10/14/2022

Another Marxist intellectual takes a shot at Mises. Like the other critics on the left, he understands little of what Mises wrote or believed.

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We Need Truth and Beauty

DemocracyProgressivismAustrian Economics OverviewPraxeology

Blog10/11/2022

Being right is not enough. Economics must appeal both to truth and beauty, which are inescapably linked.

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Cryptocurrency as Money—Store of Value or Medium of Exchange?

BitcoinMonetary TheoryPraxeologyValue and Exchange

Standard neoclassical definitions of money call it a means of exchange and a store of value. But is this correct?

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We Cannot Interpret Economic Data Unless We Know Economic Theory

Central BanksPraxeology

Blog09/09/2022

Logical positivism holds that theory is irrelevant to the empirical results. It is the other way around; One cannot understand or interpret economic data until one has a working economic theory in place.

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