The Ultimate Foundation Of Economic Science

The Ultimate Foundation of Economic Science: An Essay on Method is a book written by Ludwig Von Mises, a renowned Austrian economist and philosopher. Published in 1962, the book is considered a classic in the field of economics and is widely regarded as one of Mises' most important works.The book is a detailed exploration of the methodological foundations of economics, and Mises argues that the discipline of economics is fundamentally different from other sciences. He contends that economics is based on a priori reasoning and deductive logic, rather than empirical observation and experimentation.Mises' central thesis is that economic laws are universal and immutable, and that they can be discovered through logical deduction from a few basic axioms. He argues that economic phenomena are the result of human action, and that economic analysis must begin with an understanding of the subjective preferences and choices of individuals.Throughout the book, Mises provides a detailed analysis of the various methodological approaches to economics, including historical, statistical, and mathematical methods. He argues that these approaches are fundamentally flawed, as they fail to recognize the unique nature of economic laws and the subjective nature of human action.The Ultimate Foundation of Economic Science is a dense and challenging read, but it is an essential work for anyone interested in the foundations of economic theory. Mises' insights continue to inform and shape economic thought to this day, and his work remains a cornerstone of the Austrian School of economics.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.