
188. HUMAN ACTION Principles of Economics Lecture 1
The Bitcoin Standard Podcast
The Importance of Understanding Action in Austrian Economics
Austrians focus on individual human choice and action rather than seeking ironclad laws. Action is purposeful behavior, directed towards fulfilling wants and goals. It is a conscious response to stimuli and a way for individuals to adjust to their environment. Humans, unlike animals, act purposefully because of their ability to reason and direct their actions towards desired ends.
00:00
Transcript
Play full episode
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.