Praxeology

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

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.

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

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.

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.

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

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

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

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

What has happened here, and elsewhere, is that Mises has strayed off his great stomping ground, praxeology, and into ethics, where he is, Rothbard believes, tragically wrong.