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188. HUMAN ACTION Principles of Economics Lecture 1

The Bitcoin Standard Podcast

NOTE

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.

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