Why does the objectivity of our science lie in subjectivism?

“It is redundant to use the phrase “rational action,” because all action is necessarily rational in that the actor uses means to (attempt to) achieve an end.  By the same token, there is no such thing as an irrational action.  Because praxeology takes preferences as given, it does not analyze their content.  Some desires, such as those for food or shelter, are more common than others, yet this doesn’t make the former more “rational.”  It is also wrong to condemn an action as irrational simply because the means chosen were ill suited to achieve the desired end.  So long as the actor truly believes the means will achieve the end, the attempt to implement this causal relation is an action.

Praxeology exhibits subjectivism in that it takes actors’ subjective ends as they exist in the minds of each person.  By refraining from passing judgment on these ends, praxeology itself is objective.”Robert Murphy and Amadeus Gabriel, Study Guide to Human Action-A Treatise on Economics

My mind is stretching a little more this morning.

http://mises.org/books/humanactionstudy.pdf

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About Christopher Hessenflow

Christopher Hessenflow is a financial planner in the Chicago area. He works with all sorts of people who are much more interesting than he is. He enjoys his career which lends him time to think and, sometimes, be creative. Chip was born bald.
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