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Logical Starting Point in Economics
The logical starting point in economics is the axiom of human action, in which humans act to alleviate problems and allocate scarce resources, ultimately performing the entrepreneurial task. This starting point helps analyze individual and collective human behavior, exchanges, the role of money, credit, production, and management in the economy. This concept, articulated by Rick Van Mises, forms the basis of praxeology, the logic of human action.
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