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The ultimate foundation of economic science: an essay on method, 2d ed.


The ultimate foundation of economic science: an essay on method, 2d ed.

Von Mises, Ludwig. Ed. by Bettina Bien Greaves.

Liberty Fund, Inc.


124 pages



Liberty Fund library of the works of Ludwig von Mises


Ludwig von Mises (1881-1973), considered by many to be the leading light of the Austrian School of economics, first published this essay in 1963 for the purpose of summing up his thoughts on the epistemological foundations of economics. He concisely explains the Austrian School's position that economic theory is logically derived from basic principles of human reaction. This "praxeology" explains how all human action is intended to improve an individual's satisfaction and how this, in turn, leads to understanding markets and capital decisions.

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Publication:Reference & Research Book News
Article Type:Book Review
Date:Nov 1, 2006
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