Economics Dictionary of ArgumentsHome
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| Actions, philosophy: Actions are conscious or unconscious human actions as opposed to physical events. The action can take place against the will of the agent, but only if the opposed will is not strong enough to prevent the execution entirely._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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George J. Stigler on Actions - Dictionary of Arguments
Rothbard III 326 Action/Stigler/Böhm-Bawerk/Rothbard: (…) the mathematics of simultaneous equations, dealing in physics with unmotivated motion, stresses mutual determination. In human action, however, the known causal force of action unilinearly determines the results. This gross misconception by mathematically inclined writers on the study of human action was exemplified during a running attack on Eugen Böhm-Bawerk, one of the greatest of all economists, by (…) George Stigler: StiglerVsBöhm-Bawerk: „. . . yet the postulate of continuity of utility and demand functions (which is unrealistic only to a minor degree, and essential to analytic treatment) is never granted. A more important weakness is Böhm-Bawerk’s failure to understand some of the most essential elements of modern economic theory, the concepts of mutual determination and equilibrium (developed by the use of the theory of simultaneous equations). Mutual determination is spurned for the older concept of cause and effect.“(1) RothbardVsStigler: The “weakness” displayed here is not that of Böhm-Bawerk, but of those, like Professor Stigler, who attempt vainly and fallaciously to construct economics on the model of mathematical physics, specifically, of classical mechanics.(2) 1. George J. Stigler, Production and Distribution Theories (New York: Macmillan & Co., 1946), p. 181. For Carl Menger's attack on the concept of mutual determination and his critique of mathematical economics in general, see T.W. Hutchison, A Review of Economic Doctrines, 1870-1929 (Oxford: The Clarendon Press, 195 3), pp. 147-48, and the interesting article by Emil Kauder, "Intellectual and Political Roots of the Older Austrian School," Zeitschrift für Nationalökonomie XVII, 4 (1958), 412 ff. 2. Stigler appends a footnote to the above paragraph which is meant as the coup de grace to Böhm-Bawerk: "Böhm-Bawerk was not trained in mathematics." Stigler, Production and Distribution Theories. Mathematics, it must be realized, is only the servant oflogic and reason, and not their master. "Training" in mathematics is no more necessary to the realization of its uselessness for and inapplicability to the sciences of human action than, for example, "training" in agricultural techniques is essential to knowing that they are not applicable on board an ocean liner. Indeed, training in mathematics, without adequate attention to the epistemology of the sciences of human action, is likely to yield unfortunate results when applied to the latter, as this example demonstrates. Böhm-Bawerk's greatness as an economist needs no defense at this date. For a sensitive tribute to Böhm-Bawerk, see Joseph A. Schumpeter, "Eugen von Böhm-Bawerk, 1851-1914" in Ten Great Economists (New York: Oxford University Press, 1951), pp. 143-90. For apurely assertive and unsupported depreciation of Böhm-Bawerk's stature as an economist, see Howard S. Ellis' review of Schumpeter's book in theJournal of Political Economy, October, 1952, p. 434._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconStigler I George J. Stigler Gary S. Becker De Gustibus Non Est Disputandum 1977 Rothbard II Murray N. Rothbard Classical Economics. An Austrian Perspective on the History of Economic Thought. Cheltenham, UK: Edward Elgar Publishing. Cheltenham 1995 Rothbard III Murray N. Rothbard Man, Economy and State with Power and Market. Study Edition Auburn, Alabama 1962, 1970, 2009 Rothbard IV Murray N. Rothbard The Essential von Mises Auburn, Alabama 1988 Rothbard V Murray N. Rothbard Power and Market: Government and the Economy Kansas City 1977 |
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