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Human Action: A Treatise on Economics Part 1

Mises Audio Books Podcast

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Economics and Praxeology Do Not Deal With the External World

Praxiological reality is not the physical universe, but man's conscious reaction to the given state of this universe. It is human meaning and action which transform them into means. Means are necessarily always limited with regard to services for which man wants to use them. An end is everything which men aim at. A means is everything which acting men consider. As such it is the task of scientific technology and therapeutics to explode errors in their respective fields. But if men do not fol low the advice of science, but cling to their fallacious prejudices, these errors are reality and must be dealt with.

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