Who has the authority to define Austrian economics?

[Shaka]

Originally Posted by tmosley

Austrian economics is based off of observations (ie empiricism) of human behavior for several hundred years. Based off of those observations, it is possible to make certain predictions as to what the result of similar behavior today will be. From that same empiricism, it is possible to construct a logical framework which can be used to explain most or all human social behavior and decision making, and what effect any number of events might have on such decisions.

Certain axioms might also become apparent during such study.

In sharp contrast, Ludwig von Mises (1949) writes:

Originally Posted by Ludwig von Mises

Praxeology is a theoretical and systematic, not a historical, science. Its scope is human action as such, irrespective of all environmental, accidental, and individual circumstances of the concrete acts. Its cognition is purely formal and general without reference to the material content and the particular features of the actual case. It aims at knowledge valid for all instances in which the conditions exactly correspond to those implied in its assumptions and inferences. Its statements and propositions are not derived from experience. They are, like those of logic and mathematics, a priori. They are not subject to verification or falsification on the ground of experience and facts. They are both logically and temporally antecedent to any comprehension of historical facts. They are a necessary requirement of any intellectual grasp of historical events. Without them we should not be able to see in the course of events anything else than kaleidoscopic change and chaotic muddle.

[LibertyEagle]

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SOURCE

I'm closing this thread.