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  • The Power of Unintended Consequences: SuperFreakonomics, by Steven D. Levitt and Stephen J. Dubner [View article]
    "The economic approach “is a systematic means of describing how people make decisions and how they change their minds;"

    As wyvern noted, the Austrian School of economics has utilized this approach for many decades. Those who are familiar with Austrian School economic thought are indeed thinking "nothing new here".

    The term used in von Mises' book Human Action was "Praxeology", which was coined over a century ago.

    From Wikipedia: en.wikipedia.org/wiki/...

    "Praxeology is a framework for modeling human action. The term was coined and defined as "The science of human action" in 1890 by Alfred Espinas in the Revue Philosophique, but the most common use of the term is in connection with the work of Ludwig von Mises and the Austrian School of economics."

    If you want to get a good understanding of economics, get a copy of von Mises' book Human Action and slug your way through it.

    mises.org/resources/3250 (The Human Action homepage. It's FREE.)
    Oct 18 21:42 pm |Rating: 0 0
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