The spheres of rational action and economic action are therefore co-incident. All rational action is economic. All economic activity is rational action. All rational action is in the first place individual action. - Part II, Section 1, Chapter 5Even Fats Limbaugh knows better than this.
Sunday, April 14, 2013
THIS IS WHY ECONOMISTS SOMETIMES PISS ME OFF
Some of them seem to believe that Economics is the real Queen of the Sciences and almost Everything Else. An early statement of this grandiose conception of the field is found in Ludwig von Mises' 1922 book, Socialism: An Economic and Sociological Analysis:
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