00:01    |    
Initial credits
00:16    |    
Introduction by Julio Cole
01:50    |    
Explanation of the contents of the conference
02:48    |    
Arguments against Economic Theory
The selfishness argument
The scientific argument
The attacks to Gary Becker
12:15    |    
Arguments defending the Economic Theory
The assumption of selfishness
Individuals try to achieve their goals
The desire to reach efficiency
Self interest
The advantages of the argument
The disadvantage of the argument
Ludwig von Mises' The Human Action
Comparison between Lionel Robbins and Ludwig von Mises
Rationality as purposefulness
28:16    |    
The Austrian view of the market process
29:42    |    
The Microeconomic Theory
32:07    |    
Tautology in economics
38:17    |    
The difference between purposefulness and efficiency
39:55    |    
The application of the economical instruments
42:20    |    
The Economic Theory assumptions
43:06    |    
Austrian arguments against Historicists
46:58    |    
Methodological implications
Ludwig von Mises' economics as a logical system
Friedrich A. Hayek's empirical aspect of the Economic Theory
Rationality in the market process
54:21    |    
The importance of economic understanding
56:29    |    
Questions from the audience
How did utilitarian philosophy influence classical economics?
How does the empirical part of the Economic Theory affect the learning process?
Does empirical knowledge allow entrepreneurs to benefit from opportunities?
How do we know people are purposeful?



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The role of self-interest in Economic Theory

08 de enero de 1996   | Vistas: 4026 |  

Economic theory has been widely criticized since the beginnings of economic science in the eighteenth century due to the confusion between self-interest and selfishness. Israel Kirzner presents arguments that both support and oppose economics. He concludes that many of those that oppose economic theory confuse self-interest, meaning the freedom to do what one wants, and selfishness, meaning an exclusive concern with oneself. Kirzner compares the ideas put forth by Lionel Robbins, which hold that economics depends on the search for efficiency, and Ludwig von Mises, who develops the idea of rationality of purposefulness. He also describes the Austrian view of the market process, misunderstandings within microeconomics, and the importance of economic understanding.




Israel Kirzner is a leading economist of the Austrian School of Economics. He is professor emeritus of economics at New…

IDEAS DE LA LIBERTAD

Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín