Psychology is a very young science. As a consequence, the same people who understand complex ideas like "gravity" and "natural selection" fairly well, often have many misconceptions when it comes to the mind. In this article, I take a closer look at some key psychological notions to answer these questions.
The Austrian theory of credit is revolutionary in the way it identifies the role of the credit market in spontaneously allocating resources to the most productive activities in an economy, and the nefarious consequences of government interference in this process. With all its merits, however, its a priori methodology leads to severe problems. On one hand, it roots credit exclusively on the lender's time preference, overlooking the role of the borrower's productivity in defining interest rates. On the other, it sees saving as the only source of credit, overlooking an entire different credit instrument based on clearing: real bills of exchange.
Objectivism was not the first American school of philosophy. In this article, we take a closer look at the Pragmatism of C. S. Peirce, William James and John Dewey - from their very different views on knowledge and existence, to their fundamental agreement when it came to ethics. In addition to their metaphysics, epistemology, ethics and esthetics, we will also take a closer look at their ideas in the realm of politics, by analyzing the political movement they spawned: Progressivism.
From an individualistic methodology to an accurate theory of economic cycles, the Austrian School of Economics is one of the great schools of thought of our times. Since Ludwig von Mises, however, the school has adopted a subjectivist epistemology. Founded by Antal E. Fekete, the New Austrian School of Economics tackles that issue, replacing Mises' subjectivism with an objective epistemology. This first article details the differences between methodology of both schools, and how they impact their theories of value and money.
From Otto Neurath to Karl Popper, Neopositivism is arguably the most influential philosophy in contemporary academia. In the more abstract sense, it replaces the idea of truth by "useful, falsifiable models". More concretely, it is at the root of "pure" theories of Law, and general equilibrium theories of Economics. In this article, we will analyze at the evolution of Positivism, from Comte's original ideas to what is now commonly misunderstood as the scientific method, and take a closer look at its practical consequences.