The starting point of praxeology, i.e., the logic of human action, is a self-evident truth. As economist Ludwig von Mises noted, this truth is “the cognition of the fact that there is such a thing as consciously aiming at ends.” Praxeology describes the invariant features and implications of human action, independently of time and place. For example, the actor’s unavoidable need to choose and the fact that his subjective valuations determine the means and ends of his actions. Mises’ axiom of action—the fact that men act—means that action is intentional behavior. It means that men act by...
















