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Philosophy and MethodologyPraxeology
Quantitative methods can't be applied to human action, which is purposeful and not a mere reflex. For this reason, mathematical formulas can only describe events, never explain them.
Choosing between labor and leisure is not like choosing between apples and oranges. Many people like both kinds of fruit. But labor involves disutility, so a better choice is this: between apples and rotten oranges.
Many rich people publicly support measures to "raise taxes on the rich." This is because the cost of voting to give away $1 million is far lower than the cost of actually giving it away.
PraxeologySubjectivismValue and Exchange
A given goal dictates the specific means that an individual will choose for the attainment of that end. People make choices that they think will help them achieve an end.
Calculation and KnowledgeOther Schools of ThoughtPraxeology
Central planners like Cass Sunstein think our alleged "irrationality" means we need the government to intervene in our daily lives.
Statistics and empirical data aren't ignored by Austrians. Rather, they are relegated to their proper place in the economic edifice.
Other Schools of ThoughtPhilosophy and MethodologyPraxeology
EducationPhilosophy and MethodologyPraxeology