“If Mises has an unheralded masterpiece, The Ultimate Foundation of Economic Science is it. There are two senses in which this book is indeed ultimate: it deals with the very core of economics as a science, and it is the last book that he wrote.
If you have never read this book, you will be struck by the fiery and determined prose and the weightiness of the subject matter. The content reflects a lifetime of learning and his desire to make one last impassioned statement to save both economics and liberty from sure destruction at the hands of intellectual error.
As his career was coming to a close, Mises saw that that fiercest battles over economic questions come down to issues of epistemology: how do we determine what is and what is not true in economics? How do we even know that economics is a valid science? What are the methods we should use in studying economics? What constitutes a true proposition and how do we know?”
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