In Bob Murphy’s interview of Bryan Caplan, they briefly discussed Bryan’s essay criticizing Austrian economics. At listener request, in this episode, Bob presents a more comprehensive analysis of why he remains an Austrian economist, even after seeing top-notch neoclassicals in action during his own time in grad school.
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The Mises Institute exists to promote teaching and research in the Austrian school of economics, and individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. These great thinkers developed praxeology, a deductive science of human action based on premises known with certainty to be true, and this is what we teach and advocate. Our scholarly work is founded in Misesian praxeology, and in self-conscious opposition to the mathematical modeling and hypothesis-testing that has created so much confusion in neoclassical economics. Visit https://mises.org