Praxeology

As we continue to celebrate the centennial of the birth of Murray Rothbard, Wanjiru Njoya reminds us that he never compromised his principles and stood for liberty throughout his all-too-brief life.

As we continue to celebrate the centennial of the birth of Murray Rothbard, Wanjiru Njoya reminds us that he never compromised his principles and stood for liberty throughout his all-too-brief life.

For more than a century, economists have tried to reduce economics to a series of mathematical equations and statistical analysis. They have failed miserably, but that doesn’t stop them from continuing down the same mistaken path.

Understanding economics is the key to preserving civilization. This is because civilization itself is a consequence of choices.

Human action involves people engaging in unique events in which outcomes often are uncertain, when expertise and planning often do not give us the results we anticipate.

Human action involves people engaging in unique events in which outcomes often are uncertain, when expertise and planning often do not give us the results we anticipate.

Austrian economists insist one cannot use the methodology of the physical sciences to explain economic phenomena. In this week’s Friday Philosophy, Dr. David Gordon examines Peter Winch, who criticized using methodology of the physical sciences to explain social sciences.

Like so many intellectuals, Hilary Putnam is a good philosopher but a poor judge of good economics. In this week’s Friday Philosophy, Dr. David Gordon dissects Putnam’s confusion between facts and values.

One of the Austrian arguments against using mathematics to model economic phenomena is that there are no constants in economics, as things always are changing.

Life, for man, begins not with breath, but with action. To act, he must own himself. He must be free to choose.