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Saturday
November 12, 2005

Austrian Economics and Objectivism by Edward W. Younkins

By combining and synthesizing elements found in Austrian economics, Ayn Rand’s philosophy of Objectivism, and the closely related philosophy of human flourishing that originated with Aristotle, we have the potential to reframe the argument for a free society into a consistent, reality-based whole whose integrated sum of knowledge and explanatory power is greater than that of its parts. (Read more...)
Discuss this Article (11 messages)

Post 0

Saturday, November 12 - 3:19am

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Ed:

"My conclusion was that praxeological economics and Objectivism are complementary and compatible disciplines, and that when they are used together to explain reality, the case for a free society is strengthened."

Well, I'm glad you feel that way, Ed, otherwise I'd feel like I've been pissing into the wind for the last 25 years :-)

Ross

Post 1

Saturday, November 12 - 4:54am

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Ed,

Excellent article and I look forward to reading your book.

I saw that Andrew Bernstein has your review of The Capitalist Manifesto on his web site. Hopefully he will return the favor and say something nice about your book.

Post 2

Saturday, November 12 - 5:31am

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Ed, please check out my book, Capitalism and Individualism, Reframing the Argument for the Free Society (St. Martin's Press, 1990) for some explorations along lines you are pursuing.

Post 3

Saturday, November 12 - 7:11am

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Then of course, there's George's book, Capitalism, which details much along this same line...

Post 4

Saturday, November 12 - 7:41am

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Ross:

I am sorry but somehow I missed your writings on bringing together Austrian Economics and Objectivism. :( I would love to see your ideas! Where can I read them? Thanks!!!!

Neil:

Thanks, I appreciate your continual support, and usual agreement with, my essays.

Tibor:

Your book, Capitalism and Individualism, is one of my favorite books! Also, I really appreciate that you have permitted me to include your fine article, "Reason in Economics versus Ethics" in Philosophers of Capitalism! Thank you!

Robert:

Yes, George Reisman's Capitalism is a tremendous work integrating Classical Economics,. Austrian Economics, and Objectivism.

Take care.

Ed

Post 5

Saturday, November 12 - 8:37am

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Ed--

Bravo! I'm sure it will be a great contribution.

Sheldon

Post 6

Saturday, November 12 - 4:13pm

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Thank you Sheldon!!!

I really appreciate your good words.

Cheers!!!

Ed

Post 7

Saturday, November 12 - 8:15pm

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Excellent article on a subject that needs elaboration. Quite often Austrians export the concept of subjective ends from the realm of understanding and proving principles of economics, to the broader world, thereby denying the existence of moral principles. These Austrians seem unaware that their implicit moral nihilism leads to impossible problems and logical quandries. And they seem deeply attached to this position.

Post 8

Sunday, November 13 - 10:35am

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The Journal of Ayn Rand Studies Vol. 6 No. 2 Spring 2005 was concerned with "Ayn Rand Among the Austrians". The authors include: Sciabarra, Sechrest, Reisman, Block, Long, Johnsson, Younkins, Horwitz, Jackson, Boettke, Yeager, and Thomas.

Ed's book, Philosophers of Capitalism: Menger, Mises, Rand, and Beyond and this JARS issue should be complementary and mutually reinforcing with respect to constructing the architectonic that Ed is proposing. The two together should be of immense interest to those interested in this project.

Alysha

Post 9

Sunday, November 13 - 2:02pm

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The Journal of Ayn Rand Studies issue on the the Austrians and Ayn Rand mentioned above would make a great book with some repackaging. Then there would then be two books out there on the interaction and potential integration of Objectivism and Austrian Economics.

Karen

Post 10

Sunday, November 13 - 6:45pm

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Ed,

Have you examined Henry Hazlitt's book The Foundations of Morality? I read it a while ago, but I think he attempts to developed an ethical theory based on Austrian economics in general and cooperation in particular. As I understand it, L. Yeager follows this approach in his book on ethics.

It might be interesting to compare how differen thinkers in the Austrian tradition have diverged from Mises on this point.