Economic Ideas: The Ancient Romans, Who Went from Rule of Law to Corrupting Inflation and Price Controls

The ancient Romans failed to leave any systematic body of thoughts on economics, just like the ancient Greeks had failed to. Indeed, many of whatever ideas the Romans expressed on such economic themes they took from the Greeks. The Romans were mostly concerned with “practical” matters, and have sometimes been referred to as “doers” rather than philosophers on these ... [click for more]

Praxeology and Hostile Action

Praxeology according to Mises Ludwig von Mises saw praxeology — “the general theory of human action” — as the foundation of proper economic reasoning. Starting from the self-evident fact that men “act” so as to substitute more satisfactory states of affairs for those now existing, he believed he could build the basic toolkit of economic science by working deductively from ... [click for more]

Economic Ideas: Plato, Aristotle, and the Ancient Greeks, Part 2

When we turn to the other most famous ancient Greek philosopher, Aristotle (384 B.C. – 322 B.C.), we find little of the political regimentation that characterizes his teacher, Plato. For Aristotle, the appropriate behavior is the “golden mean,” that is, the avoidance of “extreme” or unrealistic goals or conduct in the affairs of men. While he hopes that wise policies ... [click for more]

Economic Ideas: Plato, Aristotle, and the Ancient Greeks, Part 1

The ancient Greeks left a wealth of knowledge through their surviving writings on a wide variety of themes, including science, logic, philosophy, literature, and the arts. In addition, the city-state of Athens is considered the birthplace of intellectual freedom and democracy – lasting legacies that helped to mold the ideas that have influenced the development of ... [click for more]
Page 1 of 2612345...1020...Last »