Tag Archives | Ludwig von Mises

What is Praxeology

Ludwig Von Mises writes that action axiom is the basis of all praxeology, and it is the basic proposition that all specimens of the species Homo sapiens, the homo agens, purposefully utilize means over a period of time in order to achieve desired ends. In his magnum opus Human Action, Von Mises defined “action” in the sense of the action [...]

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Austrian Business Cycle Analysis Is A Part Of The Human Civilization Equilibrium.

World over there is only one explanatory economic theory that truly and truthfully identifies the cause and effect of intervention, yet it cannot break through the unfathomable uncertainty inherent in the world and so the exact time and the intensity of the inevitable correction is not known. The intensity is related to the degree of the distortion of [...]

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