What Is the Purpose of Economic Theory?
Released Tuesday, 7th May 2024
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What Is the Purpose of Economic Theory?
What Is the Purpose of Economic Theory?
Tuesday, 7th May 2024
Good episode? Give it some love!
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Mainstream economists believe that economic theory is valid when it “predicts” economic actions or trends. Austrian economists, however, say that the purpose of economic theory is to explain economic events.
Order a free copy of Murray Rothbard's What Has Government Done to Our Money? at Mises.org/Money.
Original Article: What Is the Purpose of Economic Theory?
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