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America’s Great Depression phần 2

nhà cách hiệu quả nhất để tăng tài sản cá nhân. Trong khi lạm phát có xu hướng tăng lãi suất bằng cách thêm vào tỷ lệ khấu hao dự kiếnđây là hai tiêu chuẩn chỉ trích Keynes của lý thuyết chu kỳ Mises. Một phụ trách những người theo Mises nhiệm vụ để xác định tiết kiệm và đầu tư. | Introduction to the First Edition xl looking at the facts and seeing which theories are applicable. But whether or not a theory is applicable to a given case has no relevance whatever to its truth or falsity as a theory. It neither confirms nor refutes the thesis that a decrease in the supply of zinc will ceteris paribus raise the price to find that this cut in supply actually occurred or did not occur in the period we may be investigating. The task of the economic historian then is to make the relevant applications of theory from the armory provided him by the eco -nomic theorist. The only test of a theory is the correctness of the premises and of the logical chain of reasoning.5 The currently dominant school of economic methodologists the positivists stand ready in imitation of the physical scientists to use false premises provided the conclusions prove sound upon testing. On the other hand the institutionalists who eternally search for more and more facts virtually abjure theory altogether. Both are in error. Theory cannot emerge phoenixlike from a cauldron of statistics neither can statistics be used to test an economic theory. The same considerations apply when gauging the results of political policies. Suppose a theory asserts that a certain policy will cure a depression. The government obedient to the theory puts the policy into effect. The depression is not cured. The critics and advocates of the theory now leap to the fore with interpretations. 5This praxeological methodology runs counter to prevailing views. Exposition of this approach along with references to the literature may be found in Murray N. Rothbard In Defense of Extreme A Priorism Southern Economic Journal January 1957 214-20 idem Praxeology Reply to Mr. Schuller American Economic Review December 1951 943-46 and idem Toward A Reconstruction of Utility and Welfare Economics in Mary Sennholz ed. On Freedom and Free Enterprise Princeton N.J. D. Van Nostrand 1956 pp. 224-62. The major .