Posted on in Praxeology

Praxeological Investigations

The more you know the more you grow. After reading Prof. Roderick Long’s book Praxeological Investigation: Wittgenstein, Austrian Economics, and the Logic of Action, I have revised my understanding of praxeology. I must admit Prof. Long’s book had a great impact on my understanding of economics and philosophy.

Praxeological Investigations examine praxeology, the science of human action, as propounded by Ludwig Von Mises. Prof. Long clarifies various points of contention among praxeology’s proponents and opponents and gives praxeology a better foundation using the philosophy of Ludwig Wittgenstein.

I highly recommend Praxeological Investigation for those interested in understanding praxeology as well as the philosophy of Ludwig Wittgenstein. You can download and read it for free here. Check out his other writings at praxeology.net.

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Posted on in Praxeology

Praxeological Prelude (Part 5)

So you enjoy reading this post. I mean, you’re still reading it. No judgment from me. I’m glad you find it useful. You must see some value in it. That further concludes my discussion on praxeology today.

From Praxeological Prelude (part 1)

Human action is purposeful behavior. Human action is also useful in achieving one’s goal. The value of the action and is tied to the usage of the action.

Take reading for example. Reading this post is an action amongst many actions you could take right now. You could read this post now, later, or ignore it and do something else. Assuming your goal is to understand this post, you have chosen the action of reading to achieve your goal. You chose the act of reading over the act of ignoring this post.

Individuals have different scales of value. In addition, those scales of value are subject to change at different times. Others may have chosen a different action than yours today and a different action the next day thus showing their subjective valuations.

The value of your action is in accordance with your action. You chose to read this blog post and I appreciate it thank you for valuing it that much.

Until next time.

Posted on in Praxeology

Praxeological Prelude (Part 4)

Choices assume preferences. Whenever human action occurs, the choice of action is made with a preference for one action over another for a certain goal.

From Praxeological Prelude (Part 1):

So you’re continuing to read this post. You must prefer reading this post. This also concludes my discussion on praxeology today.

Choices are made all the time however choices are not limitless or random. Instead our choices are structured and limited by our preferences.

Preferences inform our choices. It is our preferences that provide the structure for our choice of action toward certain goals.

Therefore our choices stand on our preferences when faced with options toward certain goals. Human action is goal oriented behavior.

Until next time.