January, 2011

Distinction or Dichotomy

Rethinking the Line between Thymology and Praxeology
  • Virgil Storr

    Vice President, Academic & Student Programs
  • Don Lavoie

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The aim of this paper is to critically reexamine Ludwig Mises’ attempt to separate the psychological aspects of understanding (thymology) from the “science of action” (praxeology). There are, we contend, legitimate distinctions between theory, on the one hand, and, on the other, psychology or history. But, there is no need to dichotomize them from one another in the way Mises sometimes did.

Read the full article at SSRN.com.

Citation (Chicago Style).

Lavoie, Don and Storr, Virgil Henry. "Distinction or Dichotomy: Rethinking the Line between Thymology and Praxeology." (January 7, 2011). Review of Austrian Economics, 24, no. 2, (2011): 213.