Action, Time and Knowledge: the Austrian School of Economics
por Ubiratan Jorge Iorio,
"... The Austrian School is founded on a concurrent and complementary triad, formed by the concepts of a) human action, b) dynamic time, and c) the hypothesis about the limitations of human knowledge. These three concepts form the cornerstone of the monumental Austrian School of Economics' theoretical edifice. By analogy with biology, the triad represents the essential elements necessary for the development and maintenance of the organism, i.e., it represents both the macro and micronutrients of the system.
Certain elements emanate from the triad. They are: i) marginal utility, ii) subjectivism, and iii) spontaneous orders. From these propagation elements, every proposal of a practical nature may be logically deducted. I refer to these as propagation elements for they bring implications for various fields of human knowledge, such as political philosophy, epistemology and economics proper...."
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Ação, Tempo e Conhecimento: A Escola Austríaca de Economia
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