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Why Economic Models Can't Provide a Realistic Picture of Human Behavior

Audio Mises Wire

Tags Philosophy and Methodology

05/30/2021Frank Shostak

Mises: "The experience with which the sciences of human action have to deal is always an experience of complex phenomena. No laboratory experiments can be performed with regard to human action."

Original Article: "Why Economic Models Can't Provide a Realistic Picture of Human Behavior"

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Contact Frank Shostak

Frank Shostak's consulting firm, Applied Austrian School Economics, provides in-depth assessments of financial markets and global economies. Contact: email.

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