Praxeology

Praxeology is the science of human action. The term was coined and defined as "The science of human action" in 1890 by Alfred Espinas in the Revue Philosophique, but the most common use of the term is in connection with the work of Ludwig von Mises and the Austrian School of economics.^{[citation needed]}

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Categories

The categories of praxeology, the general, formal theory of human action, as outlined by Murray Rothbard (pp. 945-946):

• A. The Theory of the Isolated Individual (Crusoe Economics)
• B. The Theory of Voluntary Interpersonal Exchange (Catallactics, or the Economics of the Market)
  • 1. Barter
  • 2. With Medium of Exchange
    • a. On the Unhampered Market
    • b. Effects of Violent Intervention with the Market
    • c. Effects of Violent Abolition of the Market (Socialism)
• C. The Theory of War--Hostile Action
• D. The Theory of Games (e.g., von Neumann and Morgenstern)
• E. Unknown