Praxeology

Key methodological differences between Austrians were highlighted in Milton Friedman's "The Methodology of Positive Economics." A key piece of conflict: Friedman's focus on prediction rather than explanation.

In this plenary address from the 2021 Austrian Economic Research Conference, Douglas B. Rasmussen speaks on some of the philosophical principles behind Rothbard's work with the action axiom. 

Forcing one person to take medication or vaccines for the benefit of another person is directly opposed to basic notions of self-ownership and human rights. 

Forcing one person to take medication or vaccines for the benefit of another person is directly opposed to basic notions of self-ownership and human rights. 

With his Principles of Economics Carl Menger not only laid the foundation for the Austrian school itself but for its continuing development to this day.

Mises defends praxeology using philosophical minimalism, that is, by sticking to the core fact that people act and make choices.

Human action cannot be analyzed in the same way that one would analyze objects. These quantitative methods do not improve our knowledge of the driving causes in economics.

Human action cannot be analyzed in the same way that one would analyze objects. These quantitative methods do not improve our knowledge of the driving causes in economics.

If you say to someone that he won’t get what he is aiming for by using the means he has chosen, you aren’t making a value judgment yourself. You are making a strictly scientific statement. 

Dr. Bylund and Jeff Deist discuss Covid and government responses against the backdrop of ripple effects, Say's law, "market failure," and the inability of bureaucrats to make rational tradeoffs.