Praxeology- Catallactics

“Catallactics is the praxeological theory of the way the free market system reaches ratios and prices.  

It aims to analyse all actions based on monetary calculation and trace the formation of prices back to the point where an agent makes his or her choices. It explains prices as they are and not as they should be. The laws of catallactics are not value judgements, but aim to be exact, objective and of universal validity“.  http://en.wikipedia.org/wiki/Catallactics

You can read the chapter on Catallactics in Human Action by following the link. http://mises.org/humanaction/chap14sec1.asp

This is another impressive video in Praxgirl‘s series.

 http://www.youtube.com/praxgirl

The next lesson, The Market https://hessenflow.wordpress.com/2012/02/14/praxeology-the-market/

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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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One Response to Praxeology- Catallactics

  1. Pingback: Praxeology- Economic Calculation | Practical Praxeology

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