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Ultimate Foundation of Economic Science


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The Human Mind; The Activistic Basis of Knowledge; Necessity and Volition; Certainty and Uncertainty; On Some Popular Errors Concerning the Further Implications of the Neglect of Economic Thinking; The Epistemological Roots of Monism; Positivism and the Crisis of Western Civilisation; Index.

About the Author

Ludwig von Mises (18811973) was the leading spokesman of the Austrian School of economics throughout most of the twentieth century. Bettina Bien Greaves is a former resident scholar and trustee of the Foundation for Economic Education and was a senior staff member at FEE from 1951 to 1999.


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. Reference & Research Book News
November 2006

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