Episode 183: Economics’ Roots
For two millenia, economics was a field of philosophy. Starting in the late 1800s, economists began to employ mathematical modeling in their thinking. The requirements of mathematical modeling have led modern economists to begin by assuming that humans behave in certain ways. This week, Steve Horwitz joins us to discuss Austrian economics, which is a school of thought that goes back to economics’ philosophical roots by beginning with questions, rather than assumptions, about how humans behave.
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