Ep #5: Methodology & the Logic of Action with Scott

Joined by our fellow Voluntaryist Haven member Scott, we discuss the foundational aspect of economics: method. Though having different interpretations, the Austrians, most notably Murray Rothbard and Ludwig von Mises, were staunch advocates for the praxeological method or the study of Human Action to conduct economic analysis. Although, some Austrians, such as Ludwig Lachmann holding the position of a Radical Subjectivist approach in a kaleidic world as inspired by GLS Shackle or Freidrich von Hayek and his deviation from praxeology towards a fatalist approach to the logic of action. The logic of action has inspired long-discussed interpretations between Austrians concerning equilibrating mechanisms and the theory of entrepreneurship.