'.."muse". It is a place where one muses and tries to get to the bottom of things, in the tradition of free research and teaching..'
-
The Institut für Wertewirtschaft ("Institute for value-based economics")
<b>'..humanism in economics is much older than Menger: it goes back to St. Thomas Aquinas and the Late Scholastics and continues with David Hume, Richard Cantillon and Adam Smith. Humanism was only "dismissed" from the twentieth century on, with the advance of positivist ideas. However, for Austrians, both in everyday life and in the world of science, what matters is not homo economicus
, but homo agens.'</b>
'Indeed, for the Austrian tradition asks one not only to reach the state of the art in the science, but also to go further and try to become a humanist. However, even when dealing with a very broad field of human knowledge, the Austrian school holds a remarkable simplicity, which is explained by the irreproachable logic of its propositions and postulates. As Mises wrote, "
good economics is basic economics"!
The great Austrian economists of the twentieth century - especially Mises and Hayek - were paragons of boldness. In a time when colleagues were driven to specialization in more restricted areas of economics, they refused to compromise and remained generalists, not with the connotation used lately, but one that denotes vast culture and humanism.
Since the second half of the nineteenth century, economists regrettably abandoned the humanist tradition and progressively concentrated on more specific technical knowledge, thereby becoming less knowledgeable. Today, few economists are scholarly enough to master skills that exceed those contained in micro and macroeconomics textbooks. Many, unfortunately, disdain other social sciences, because, on their journey towards obscure knowledge, they have been taught that those are "unscientific."
These observations neither mean that the conventional theory must be discarded nor that the
homo economicus needs to be rejected. They only mean that the human aspects of the economy cannot be left out, as if they were unimportant or "unscientific", or as if they were no more than mere nostalgic evocations of a past of melancholy from the heyday of the Austro-Hungarian time of Menger, and Wieser, Böhm-Bawerk, Mises, Hayek and others. In fact, humanism in economics is much older than Menger: it goes back to St. Thomas Aquinas and the Late Scholastics and continues with David Hume, Richard Cantillon and Adam Smith. Humanism was only "dismissed" from the twentieth century on, with the advance of positivist ideas. However, for Austrians, both in everyday life and in the world of science, what matters is not
homo economicus, but
homo agens.'
- Ubiratan Jorge Iorio,
Action, Time and Knowledge: the Austrian School of Economics, March 14, 2012
Context ‘The dimension of feeling..’ - ‘The Myth of Efficiency’ - 'A judgment of value .. a man's affective response to definite conditions of the universe..'Austrians return to Austria, 2011
(Ideapreneurs - Legitimize Daydreaming) - '..the world’s largest grassroots ideapreneurship..' - '..entrepreneurial activity...'((Hapto)praxeology) - '..theorem is derived ultimately from the postulate of human action..' - Dr. Fabio Barbieri