/lit/ - Literature

[Anonymous No.16152451]

Why do people hate economics and capitalist focus books so much? I find ludwig book to be a must read for anyone who interested in bettering their lives.

[Anonymous No.16152470]

>>16152451
It's a jumble of fallacious reasoning built on false bugman premises.

[Anonymous No.16152519]

Reminder that Mises's disregard for empiricism in economics is incompatible with his theory of profit.

[Anonymous No.16152533]

>>16152519
elaborate

[Anonymous No.16152559]

>>16152533
Mises thinks empiricism is epistemologically worthless when it comes to economics, that is, you won't be able to predict anything at all about the economy by looking at past trends.

But Mises's theory of profit is that it is the entrepreneur's reward for predicting the market better than his competitors.

But if human action is so fundamentally unquantifiable and empiricism can't ever be applied to it, then all entrepreneurial activity - which makes use of forecasting of consumer actions - is basically random and you have just as much chance to make bank selling literal canned shit as you have by selling, say, oil.

Of course, entrepreneurial activity certainly isn't random (or at least not entirely so), which has the consequence that empirical knowledge also isn't entirely useless in the study of the economy.

[Anonymous No.16152636]

>>16152559
He's referring to economic systems, not market trends.

[Anonymous No.16152648]

>Economics
>Austrian school

Choose one.

[Anonymous No.16154462]

>>16152470
So, no different than any other book that /lit/ wets their panties over.

[Anonymous No.16154647]

>>16152636
But then what is an economic system, if not a composition of market trends? Or is it the composition that makes it impossible to get anywhere?

[Anonymous No.16154662]

>>16152451
>>16152470

Praxeology belongs on >>/x/

[Anonymous No.16155090]

I'M MISTER MISES LOOK AT MEEEEEEE!!!!!!!!!!!!!!!!!!!!!!!!!