The Method Behind Real Economic Thinking

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05/05/2025 Robert P. Murphy Jonathan Newman

Dr. Jonathan Newman returns to the Human Action Podcast to discuss the relaunch of the Mises Academy—including his new course based on Bob’s Lessons for the Young Economist textbook. But this conversation goes much deeper than curriculum. Bob and Jonathan unpack the fundamental question: What is economics, really? They explore how Austrian economics differs from psychology, history, and the natural sciences, why economics is more about understanding than prediction, and how praxeology reveals the logical structure of human choice.

The New Mises Academy: Mises.org/HAP498a
Bob’s Lessons for the Young Economist Textbook: Mises.org/HAP498b
Bob’s Lessons for the Young Economist Teacher’s Manual: Mises.org/HAP498c

The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

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