Praxeology and the Method of Economics
Dr. Joe Salerno joins Jeff Deist to explore another foundational topic: the method of economics. Mises developed praxeology, perhaps his most controversial contribution to economic science. Praxeology starts with fundamental axioms, then derives economic theory by working logically through a deductive process. As such, praxeology is at odds with logical positivism and empiricism—and presents a markedly different approach to economics.
Readings
Ludwig von Mises, The Ultimate Foundation of Economic Science
Ludwig von Mises, Human Action, Part One, Chapter II: "The Epistemological Problems of…
The skinny
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