The Economic Point of View

Index of Subjects

Abstractions, 11, 59, 122, 132

Action, human calculated, 91

conduct and, 146, 149, 153, 177

consciousness in, 153

Croce’s views of, 155

economics as science of, 49-50, 129, 146-85

economizing and, 159-62

ends and means of, 109, 124

error in, 169

exchange and, 72, 76

maximization pattern of, 111

Mises’ concept of, 159-63

money and, 94, 206(6)

motive for, 61, 96, 153

nature of, 156

preference in, 102

purpose in, 140, 157, 161, 163, 173, 214(29)

rationality of, 164, 167, 214(26)

reason in, 150

Robbins and, 159-63

scarcity and, 61, 112

sphere of, 1

study of, 51, 181, 198(8)

survival and, 36

wealth and, 28

Weber and, 157-59

Altruism and selfishness, 27, 52

Apriorism, praxeology, and operationalism, 177-81

Art of political economy, 23

Association and human action, 79

Avarice, science of, 51-70, 74

Barter, 76; see also, Exchange

Behavior

economics and, 20, 51, 86

ends and means in, 109, 125

error in, 169

exchange and, 76

maximization pattern of, 111

purpose in, 157, 161, 163, 173, 214(29)

rationality and, 64, 167, 214(26)

science of, 20

wealth and, 53, 57

see also, Action, human

Biological survival, 36

Calculation and money, 103-05

Catallactics and economics, 71, 72-76

Causality, 164

Change in program, 169, 174

Conduct, 146, 149, 153, 177; see also,

Action, human

Consumption. See Production and consumption

Cooperation, 78, 84

Definitions of economies

classical economists, 12-14; see also, Index of Authors

classified, 5, 17

controversy over, 8-12

Historical School, 15

nominal and real, 9

utility of, 6-8

wealth, 29

Demand and supply, 66, 111

Distribution, 21, 31, 53

Dublin “school,” 202(5)

Economic point of view, 1-19, 181-85

Economics

behavior and, 20, 51, 86

catallactics and, 71, 72-76

classical, 143; see also, Economists, classical

concept of, 58; see also, Index of Authors

definition of, 1-19, 40, 44, 75, 187(6); see also, Index of Authors

development of, 44

Dietzel’s views of, 114

dynamics, 215(30)

economizing and, 108-45

economy and, 85-87

eighteenth-century, 23

error in, 169

ethics and, 26, 137-42

exchange and, 81-85

external world and, 42

formalism in, 121-24

human action. See Action, human impulse in, 60-64

interpretation of history, 4, 35

judgment in, 171

laws in, 39

literature of

English, 15, 39, 58

French, 47, 72, 189(28)

German, 15, 40, 42, 58

marginal utility, 45

market society and, 71-90

Marshall’s, 96

material approach to, 20, 29, 40, 46

mathematical, 70, 201(40)

maximization and, 58, 62, 86, 111, 136

measurement and, 91-107

mechanics and, 67-70

Methodenstreit and, 14-16, 38

methodology and, 23, 147, 161

Menger’s, 112

Mises’ ideas on nature and scope of, 161

money and, 91-107

morality and, 26, 50, 65

motivation and, 36, 51, 60

nature of, 9, 56, 142-45, 161

neutrality in, 137

nineteenth-century, 15, 137

normative science of, 139

Pigou’s, 97

politics and, 203(21)

praxeology and, 147, 152-59, 181-85

prices and, 102-05

principle of, 57-60

quantities, 79, 201(43)

rationality and, 154, 159

reason in, 150, 170, 173, 176

Ricardian-type, 14

Robbins’, 109-11

scarcity and, 111-14

schools of, 25, 38, 59, 85

science of human action and, 49-50, 129, 146-85

scope of, 3-5, 32, 44

self-interest and, 52, 76

Sherwood’s, 153

social science and, 27, 87, 147

subjective, 100, 195(60)

technology and, 131

twentieth-century, 17-19

United States, 58, 189(27)

utilitarianism and, 101

Volkswirtschaft and, 85-87

wealth and, 14, 20, 75, 202(1)

welfare, 20, 97

Economists, classical

definitions of, 12-14; see also, Index of Authors

economic man and, 198(8)

wealth and, 20, 23, 34, 53

Economizing

acting man and, 159-62

economics and, 108-45

maximization and, 115-17, 120

Economy

Crusoe, 105

economics, Volkswirtschaft and, 85-87

laissez-faire, 83

organization of the, 84

society and, 87-90

Egoism, 27, 65, 68

Ends and means

behavior and, 109, 125

dichotomy, 161, 166

formalism and, 121

“given,” 129-33

human action and, 109, 124

nature of, 124-28

plan in, 170

Robbins’ concept of, 109

scarcity and, 17

single and multiple, 133-37

“understandable,” 159

England

economic literature of, 15

self-interest concept in, 58

wealth, views on, 39

Epistemology, 27, 87, 147, 160, 178-79

Ethics, 26, 137-42

Exchange

barter, 76

catallactics and, 72

concept of, 80

cooperation and, 78, 84

Crusoe economy and, 80

divsion of labor and, 78-79

economic system and, 81-85

formal, 79-81

human action and, 72, 76

indirect, 94

interpersonal, 80

money and, 92-95

physiocrats’ stress on, 72

political economy and, 72

production and consumption and, 78

propensity to truck and, 76-77

Schumpeter’s concept of, 80

science of, 71, 76

taxation and, 202(8)

wealth and, 72, 92-95, 202(1)

Formalism, 121-24

France, economic views in, 47, 72, 189(28)

Free market. See Market economy

“Frictional” forces, 104

Geisteswissenschaften, 157

Germany, economic literature of, 15, 42, 58

Goods

economic, 69

material, 40, 52

Hedonism, 16, 64, 68

Historical School

abstractions of, 59

definitions of, 15

holistic views of, 85

social character of, 16

wealth and, 38

History

economic interpretation of, 4, 35

Marx-Engels approach to, 34

Homo oeconomicus, 39, 53, 55, 164

Ideal type, 158, 214(28)

Impulse, economic, 60-64

Industry, 42, 146

Institution, economic, 105-07

Introspection, 178

Judgment, economic, 8, 25, 56, 137, 171

Knowledge

ownership and, 25

praxeology and, 173, 177, 214(26)

Labor

degree of, 144

exchange and, 78-79

productive, 30

Laissez-faire economy, 83

Laws

distribution, 21, 31

economic, 39

production, 31, 54

Logic, 5, 122, 149

Luxuries, 34

Macroeconomics, 142-45

Man

acting and economizing, 159-63

economic, 74, 198(8)

nature versus, 41-43

see also, Action, human

Marginal utility, 45

Market economy

maximization and, 120

prices in, 102

regularities in, 26

society and, 71-90

specialization in, 78

valuation in, 8, 25, 56, 137

Marxism, 34

Materialism

Marxism and, 34

science of, 29-32, 33

views of, 46

wealth and, 21, 29-32, 34

Mathematics, 70, 201(40)

Maximization

behavior and, 111

economics and, 136

economizing and, 115-17, 120

market and, 120

pattern of behavior, 62

pleasure and pain, 58

principle of, 86, 113

want-satisfaction and, 58, 63, 115

wealth and, 67

Measurement

economic affairs and, 91-107

motives and, 97

money used for, 99-107

welfare and, 196(66)

Mechanics and economics, 67-70

Mercantilists, 24, 92

Methodenstreit, 14-16, 38

Methodology, 13, 23, 147, 161

Money

economic institution and, 105-07

economics and, 91-107

exchange and, 92-95

human action and, 94, 206(6)

measuring rod of, 91-107

motivation for acquiring, 105

price-economics and, 100, 102-05

purchasing power of, 100, 206(6)

self-interest and, 51, 55, 93

significance of, 105

Tarde’s view of, 98

wealth and, 92-95; see also,

Wealth Morality, 26, 50, 65

Motivation

economic, 36, 51, 60

human action and, 61, 96, 153

meaningful, 157

measurability of, 97

money and, 105

wealth and, 61

Nature

human, 49-50; see also, Action, human

man versus, 41-43

Necessaries, 34

“Non-tuism,” 64-67, 77

Normative and positive, 137-42

Objectivistic concept of economics, 21, 24

Operationalism, praxeology, and apriorism, 177-81

Ownership, 24, 25, 27, 190(8)

Phenomena

economic. See Economics

exchange, 76

market, 120

maximization, 120

praxeological. See Praxeology

price, 80

social, 1, 17, 28, 39, 86, 175

subjective, 100, 195(60)

wealth, 14, 20, 40, 55

welfare, 20

Physiocrats, 72

Pleasure and pain, 50, 58, 101

Political economy

art of, 23

defined, 13, 23

economics and, 203(21)

ethics and, 26

exchange in, 72

nineteenth-century, 12

object of, 74

purposefulness and, 164

science of, 20, 23, 54

wealth and, 20, 22-29, 30, 73

Political Economy Club of London, 13, 189(23)

Positivism, 28, 124, 137-42, 166

Poverty, 34, 192(29)

Praxeology

apriorism and, 177-81

economic point of view and, 147, 152-59, 181-85

evolution of, 157

knowledge and, 173, 177, 214(26)

Mises and, 147, 159-62

operationalism and, 177-81

perspective of, 147

purpose and, 163-67

rationality and, 150, 167-73

Robbins and, 159-62

social phenomena in, 175

view of, 148, 152-59

want-satisfaction and, 173

Preference, 102

Prices

calculation and, 103-05

economics and, 102-05

effects on, 144

money and, 102-05

phenomena of, 80

production and consumption, 103

use of, 100

Private property. See Ownership

Production and consumption

competition in, 204(28)

exchange and, 78

law of, 31, 54

material powers of, 35

prices in, 103

social, 35

supply and, 66, 111

wealth and, 21, 30, 192(28)

Program

changed, 169, 174

chosen, 214(26)

Propensity to truck, 76-77

Prosperity, 41, 92; see also, Wealth

Purchasing power, 100, 206(6)

Purpose

behavior and, 157, 161, 163, 173, 214(29)

Croce’s views of, 157

political economy and, 164

praxeology and, 163-67

reason in, 173

Weber’s views of, 157

Rationalism

behavior and, 164, 167, 214(26)

economic activity and, 154, 159

praxeology and, 150, 167-73

Reality, 146

Reason, 150, 170, 173, 176

Resources, 42, 117, 142, 155, 162

“Rhine-wine” case, 169

Richesse sociale, 113

Sacrifice, 57, 59, 106

Scarcity

assumption criticized, 143

concept of, 16, 109

economics and, 111-14

ends and means and, 17

human action and, 61, 112

Science

avarice and, 51-70, 74

behavior and, 20

economic. See Economics

exchange, 71, 76

human action and, 49-50, 129, 146-85

Mises’ views of, 160

medical, 31

natural, 27

neutrality in, 137

normative, 139

physical, 54

political economy and, 20, 22-29, 30, 73

praxeological. See Praxeology

social and economic, 27, 39, 87, 147, 153, 157

wealth. See Wealth

Self-interest

altruism and, 27, 52

economics and, 52, 76

English views of, 58

force of, 67

money and, 51, 55, 93

“non-tuism” and, 64-67, 77

preservation of, 60

Social sciences, 27, 87, 147

Society

commerce and, 72

economics, market, and, 71-90

economy and, 87-90

laws of, 54

Sociology, 27, 39, 87, 147, 153, 157

Specialization, 78

Subjective economics, 100, 195(60)

Subsistence, science of, 32-37

Supply and demand, 66, 111

Surplus, wealth, 34, 192(28)

Taxation and exchange, 202(8)

Technology, 35, 127, 131

Teleology, 155, 158, 164

Trade. See Exchange

United States, economic principle in, 58, 103, 189(27)

Utilitarianism and economics, 101

Value theory, 8, 25, 56, 137, 171

Verstehen, 157, 164

Volkswirtschaft, 85-87

Want-satisfaction

conscious, 153, 215(30)

constant, 173-77

ends and means of, 42, 115, 130

maximization of, 58, 63, 115

sacrifice and, 57, 59, 106

Wealth

behavior and, 53, 57

classical economists and, 20, 23, 34, 53

concept of, 22, 46

consumption of, 21, 30, 192(28)

definition of, 29

distribution of, 21, 31

economics and, 14, 20, 75, 202(1)

English views on, 39

exchange and, 72, 92-95, 202(1)

Historical School and, 38

human action and, 28

intellectual interest and, 26

interpretation of, 53, 194(46)

material, 21, 29-32, 34

maximization of, 67

money and, 92-95

motive for, 61

objective, 31

ownership and, 25

phenomena of, 14, 20, 40, 55

political economy and, 20, 22-29, 30, 73

production and, 21, 30

prosperity and, 41, 92

pursuit of, 61

right to, 190(8)

sacrifice and, 57, 59, 106

scarcity and, 111

science of, 13, 29-32, 38-41

surplus, 34, 192(28)

teleological. nature of, 155, 158, 164

use of, 33

welfare and, 17, 20-50

Welfare

economic, 20, 97

material, 21, 46

measurable, 196(66)

wealth and, 17, 20-50

Wertfreiheit, 131

Wirtschaft, 59