Subjectivism

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Homogeneity, Heterogeneity, the Supply Curve, and Consumer Theory

04/17/2019Quarterly Journal of Austrian EconomicsIgor WysockiWalter Block

What does it mean for two goods to be the "same good"? Wysocki and Block argue that Austrian subjectivism leads to the possibility of perfect economic homogeneity or heterogeneity.

Formats

Homogeneity Heterogeneity The Supply Curve and Consumer Theory.pdf

PDF (268.28 KB)

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The Rejection of Economics

Free MarketsHistory of the Austrian School of EconomicsPraxeologySubjectivism

04/15/2019Mises Daily ArticlesLudwig von Mises

All human action stems from the value judgments of individuals. Economics, properly understood, was never so foolish as to believe that all that people are after is higher incomes and lower prices.

Agree or Disagree? On the Role of Negotiations for the Valuation of Business Enterprises

Philosophy and MethodologySubjectivismValue and Exchange

04/15/2019Quarterly Journal of Austrian EconomicsFlorian FollertJeffrey M. HerbenerMichael OlbrichDavid J. Rapp

Valuation of businesses must be based on appraisement, investment appraisal, and— terra incognita in Austrian economics—negotiation. Discounted cash flow and "relative valuation" methods are well-suited for negotiation purposes.

Formats

Agree or Disagree On the Role of Negotiations for the Valuation of Business Enterprises.pdf

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The Place of Economic Calculation in the Economic Theory of Ludwig von Mises

SocialismCalculation and KnowledgeSubjectivism

03/20/2019Quarterly Journal of Austrian EconomicsJeffrey M. Herbener

The marginalist revolution posed a fundamental problem for economic theory. Mises’s approach not only solved the problem of economizing resources in a division of labor, but provides a robust framework for economic research.

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Positivism and Behaviorism

World HistoryPhilosophy and MethodologyPraxeologySubjectivism

10/15/2018Mises Daily ArticlesLudwig von Mises

For the positivist, a man is a machine like an automobile, and the positivist denies to his fellow men the faculty of choosing ends and the means to attain these ends.