Thymology
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Thymology
In praxeology, thymology is the study of those human aspects that precede or cause purposeful human behavior. Praxeology and thymology In his ''Theory and History'', Ludwig von Mises wrote on the relationship between praxeology and thymology: hymologyis what a man knows about the way in which people value different conditions, about their wishes and desires and their plans to realize these wishes and desires. It is the knowledge of the social environment in which a man lives and acts or, with historians, of a foreign milieu about which he has learned by studying special sources. Why one man chooses water and another man wine is a thymological (or, in traditional terminology, psychological) problem. But it is of no concern to praxeology and economics. The subject matter of praxeology and of that part of it which is so far best developed─economics─is action as such and not the motives that impel a man to aim at definite ends. History Von Mises wrote: Thymology is a bran ...
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Praxeology
In philosophy, praxeology or praxiology (; ) is the theory of human action, based on the notion that humans engage in purposeful behavior, contrary to reflexive behavior and other unintentional behavior. French social philosopher Alfred Espinas gave the term its modern meaning, and praxeology was developed independently by two principal groups: the Austrian school, led by Ludwig von Mises, and the Polish school, led by Tadeusz Kotarbiński. Origin and etymology Coinage of the word ''praxeology'' ('' praxéologie'') is often credited to Louis Bourdeau, the French author of a classification of the sciences, which he published in his ''Théorie des sciences: Plan de Science intégrale'' in 1882: However, the term was used at least once previously (with a slight spelling difference), in 1608, by Clemens Timpler in his ''Philosophiae practicae systema methodicum'': It was later mentioned by Robert Flint in 1904 in a review of Bourdeau's ''Théorie des sciences''. The modern def ...
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Ludwig Von Mises
Ludwig Heinrich Edler von Mises (; 29 September 1881 – 10 October 1973) was an Austrian School economist, historian, logician, and Sociology, sociologist. Mises wrote and lectured extensively on the societal contributions of classical liberalism. He is best known for his work on praxeology studies Bureaucracy (book), comparing communism and capitalism. He is considered one of the most influential economic and political thinkers of the 20th century. Mises emigrated from Austria to the United States in 1940. Since the mid-20th century, libertarian movements have been strongly influenced by Mises's writings. Mises' student Friedrich Hayek viewed Mises as one of the major figures in the revival of classical liberalism in the post-war era. Hayek's work "The Transmission of the Ideals of Freedom" (1951) pays high tribute to the influence of Mises in the 20th century libertarian movement. Mises's Private Seminar was a leading group of economists. Many of its alumni, including Friedri ...
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Theory And History (book)
''Theory and History: An Interpretation of Social and Economic Evolution'' is a treatise by Austrian school economist and philosopher Ludwig von Mises. It can be thought of as a continuation in the development of the Misesian system of social science. In particular, it provides further epistemological support for his earlier works, esp. Human Action. Most notably, Mises elaborates on methodological dualism, develops the concept of thymology – a historical branch of the sciences of human action – and presents his critique of Marxist materialism. Furthermore, Mises puts forward a theory of knowledge and value. He later explores and critically analyzes paradigms of thought like determinism, materialism, dialectic materialism, historicism, scientism, positivism, behaviorism and psychology. He argues that these schools of thought – some politically motivated, others blinded by dogmatism – have committed epistemological and methodological blunders and are not conducive to a sci ...
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Action (philosophy)
An action is an event that an agent performs for a purpose, that is guided by the person's intention. The first question in the philosophy of action is to determine how actions differ from other forms of behavior, like involuntary reflexes. According to Ludwig Wittgenstein, it involves discovering " at is left over if I subtract the fact that my arm goes up from the fact that I raise my arm". There is broad agreement that the answer to this question has to do with the agent's intentions. So driving a car is an action since the agent intends to do so, but sneezing is a mere behavior since it happens independent of the agent's intention. The dominant theory of the relation between the intention and the behavior is ''causalism'': driving the car is an action because it is ''caused'' by the agent's intention to do so. On this view, actions are distinguished from other events by their causal history. Causalist theories include Donald Davidson's account, who defines actions as bodily m ...
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Behavioral Economics
Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals or institutions, such as how those decisions vary from those implied by classical economic theory. Behavioral economics is primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory. The study of behavioral economics includes how market decisions are made and the mechanisms that drive public opinion. The concepts used in behavioral economics today can be traced back to 18th-century economists, such as Adam Smith, who deliberated how the economic behavior of individuals could be influenced by their desires. The status of behavioral economics as a subfield of economics is a fairly recent development; the breakthroughs that laid the foundation for it were published through the last three decades of the 20th century. Behavio ...
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Bounded Rationality
Bounded rationality is the idea that rationality is limited when individuals make decisions, and under these limitations, rational individuals will select a decision that is satisfactory rather than optimal. Limitations include the difficulty of the problem requiring a decision, the cognitive capability of the mind, and the time available to make the decision. Decision-makers, in this view, act as satisficers, seeking a satisfactory solution, with everything that they have at the moment rather than an optimal solution. Therefore, humans do not undertake a full cost-benefit analysis to determine the optimal decision, but rather, choose an option that fulfils their adequacy criteria. An example of this being within organisations when they must adhere to the operating conditions of their company, this has the opportunity to result in bounded rationality as the organisation is not able to choose the optimal option. Some models of human behavior in the social sciences assume that hu ...
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Methodological Individualism
In the social sciences, methodological individualism is the principle that subjective individual motivation explains social phenomena, rather than class or group dynamics which are illusory or artificial and therefore cannot truly explain market or social phenomena. This concept was introduced as an assumption in the social sciences by Max Weber, and discussed in his book ''Economy and Society''. Methodological individualism is often contrasted with methodological holism and methodological pluralism. In economics In neoclassical economics, people's behavior is explained in terms of rational choices as constrained by prices and incomes. The neoclassical economist accepts individuals' preferences as given. Gary Becker and George Stigler provide a forceful statement of this view: :On the traditional view, an explanation of economic phenomena that reaches a difference in tastes between people or times is the terminus of the argument: the problem is abandoned at this point to wh ...
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Self-efficacy
In psychology, self-efficacy is an individual's belief in their capacity to act in the ways necessary to reach specific goals. The concept was originally proposed by the psychologist Albert Bandura. Self-efficacy affects every area of human endeavor. By determining the beliefs a person holds regarding their power to affect situations, self-efficacy strongly influences both the power a person actually has to face challenges competently and the choices a person is most likely to make. These effects are particularly apparent, and compelling, with regard to investment behaviors such as in health, education, and agriculture. A strong sense of self-efficacy promotes human accomplishment and personal well-being. A person with high self-efficacy views challenges as things that are supposed to be mastered rather than threats to avoid. These people are able to recover from failure faster and are more likely to attribute failure to a lack of effort. They approach threatening situations with ...
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Semiotics
Semiotics (also called semiotic studies) is the systematic study of sign processes ( semiosis) and meaning making. Semiosis is any activity, conduct, or process that involves signs, where a sign is defined as anything that communicates something, usually called a meaning, to the sign's interpreter. The meaning can be intentional such as a word uttered with a specific meaning, or unintentional, such as a symptom being a sign of a particular medical condition. Signs can also communicate feelings (which are usually not considered meanings) and may communicate internally (through thought itself) or through any of the senses: visual, auditory, tactile, olfactory, or gustatory (taste). Contemporary semiotics is a branch of science that studies meaning-making and various types of knowledge. The semiotic tradition explores the study of signs and symbols as a significant part of communications. Unlike linguistics, semiotics also studies non-linguistic sign systems. Semiotics includes th ...
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Social Actions
In sociology, social action, also known as Weberian social action, is an act which takes into account the actions and reactions of individuals (or ' agents'). According to Max Weber, "Action is 'social' insofar as its subjective meaning takes account of the behavior of others and is thereby oriented in its course." Max Weber The basic concept was primarily developed in the non-positivist theory of Max Weber to observe how human behaviors relate to cause and effect in the social realm. For Weber, sociology is the study of society and behavior and must therefore look at the heart of interaction. The theory of social action, more than structural functionalist positions, accepts and assumes that humans vary their actions according to social contexts and how it will affect other people; when a potential reaction is not desirable, the action is modified accordingly. Action can mean either a basic action (one that has a meaning) or an advanced social action, which not only has a ...
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