The professional class of which Ludwig von Mises (and to some extent also his friend Kelsen) was a member was not only fond of thinking of itself as the defender of their highly cultured environment. This large group of intellectuals, administrators, aristocrats, and politicians had also been...

Nowadays mainstream economic textbooks maintain that economic laws can be established solely on the foundations of the exact sciences, such as mathematics or physics. The implication is that the historical date collected with the aid of statistics and other technical means can be used to...