Articles

This paper explores the nature of Economics, examining its core definitions and delving into its philosophical underpinnings. Unlike the natural sciences, Economics lacks a universally accepted object of study and relies on fabricated indicators like GDP and inflation. The discussion highlights the Austrian School of Economics, which, rooted in praxeology and the a priori principles of human action as articulated by Ludwig Von Mises, presents a heterodox view. This perspective challenges conventional Neoclassical and Keynesian approaches, emphasizing logical deduction over empirical methods. Additionally, the paper critiques the use of mathematics in Economics from the Austrian viewpoint, arguing that mathematical models oversimplify human behavior and fail to capture the dynamic, subjective nature of economic interactions.