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(mises.org/library/ultimate-foundation-economic-science) Ludwig von Mises, Human Action, Part One, Chapter II(mises.org/library/human-action-0/html/p/640) Murray Rothbard, "In Defense of Extreme Apriorism" (mises.org/library/defense-%E2%80%9Cextreme-apriorism%E2%80%9D) Hans-Hermann Hoppe, Economic Science and the Austrian Method (mises.org/library/economic-science-and-austrian-method)