Monday, June 20, 2011

The Chicago School versus the Austrian School - Robert P. Murphy - Mises Daily

The Austrians are oddballs among professional economists for their focus on methodological issues in the first place. Indeed, Mises's magnum opus, Human Action, devotes the entire second chapter (41 pages) to "The Epistemological Problems of the Sciences of Human Action." There was no such treatment in the last Freakonomics book.

Although most economists in the 20th century and our time would disagree strongly, Mises insisted that economic theory itself was an a priori discipline.

The Chicago School versus the Austrian School - Robert P. Murphy - Mises Daily

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