The Formalism of Mises

“This review of Epistemological Problems of Economics by Ludwig von Mises (Third Edition; translated by George Reisman. Introduction by Jörg Guido Hülsmann. Ludwig von Mises Institute, 2003. Lxxxi + 257 pgs.) appeared in the Summer 2003 issue of The Mises Review]”

“As every reader of Human Action knows, Ludwig von Mises devoted much attention to methodology. Many people interested in Austrian economics turn from his discussions of the a priori and verstehen in bafflement and boredom. “Enough of these philosophical abstractions,” they say; “what we want is economics”. No greater mistake can be imagined if one wishes to understand Mises’s work.

Mises’s methodological views are vital to the grasp of his concrete teaching on economic issues. This we are in a position to understand better than ever before, thanks to Guido Hülsmann’s brilliant introduction to this welcome reissue of Mises’s most extended discussion of the nature of our knowledge of economics.“