Praxeology is the science of human action, encompassing in principle the full range of actions in which individuals may engage. Catallactics is the application of praxeology to understand price formation and exchange among market participants.

Categories of praxeologyEdit

  • The Theory of the Isolated Individual (Crusoe Economics)
  • The Theory of Voluntary Interpersonal Exchange (Catallactics, or the Economics of the Market)
    • Barter
    • With Medium of Exchange
      • On the Unhampered Market
      • Effects of Violent Intervention with the Market
      • Effects of Violent Abolition of the Market (Socialism)
  • The Theory of War--Hostile Action
  • The Theory of Games (e.g., Von Neumann and Morgenstern)
  • Unknown

ResourcesEdit