Mises Wire
Author:
Frank Shostak
Online Publish Date:
In his “Philosophical Origins of Austrian Economics” ( Mises Daily , June 17, 2006), David Gordon writes that Eugen von Böhm-Bawerk maintained that concepts employed in economics must originate from reality—they need to be traced to their ultimate source in the real world. If one cannot trace it, the concept should be rejected as meaningless.