Wealth is a meaningless term without the concept of value. If we know that the purpose of human action is to satisfy one's needs and wants, then the material wealth of two different individuals (let alone abstract entities such as nations) cannot tell us much about the satisfaction of their needs and wants. Wants and needs are subjective, unknown, and immeasurable by an outside observer.
Showing posts with label rationality. Show all posts
Showing posts with label rationality. Show all posts
Monday, June 21, 2010
KA-POW! #35 - Rajsic
This week's “Kick-Ass Post O’th’ Week” (KA-POW) goes to Predrag Rajsic for “Measuring the Immeasurable” :
Thursday, May 20, 2010
“Space News Item”
The Shocking Truth Behind Strange Incidents in Space!...
[Sorry, the review period has ended.]
Tuesday, April 13, 2010
KA-POW! #25 - Read
This week's “Kick-Ass Post O’th’ Week” (KA-POW) goes to Leonard Read for “Find the Wrong, and There's the Right” :
Man, on the other hand, does not now possess a like set of instinctual do-nots: built-in prohibitions. Instead, he must enjoy or suffer the consequences of his own free will, his own power to choose between what's right and what's wrong. In a word, man is more or less at the mercy of his own imperfect understanding and conscious decisions.
Wednesday, March 17, 2010
Thursday, October 15, 2009
"Greenspace Press Release"
Friday, October 9, 2009
KA-POW! #2 - Mallick
This week's “Kick-Ass Post O’th’ Week” (KA-POW) goes to a student named Abhinandan Mallick for “How I Found the Austrian School" :
In Human Action, Mises identifies a methodological dichotomy between the social and the natural sciences. This dichotomy is in how we use teleology and causality to explain different kinds of events.
These two terms are best explained by use of examples. When we throw a ball, for instance, we do not reason that it is guided in a teleological way by some mystical spirit or "prime mover." Instead we use the laws of mechanics and causality to examine the position, velocity, and forces acting on the ball, in order to predict the future position and velocity of the ball.