The Ultimate Foundation of Economic Science: An Essay on Method

2012 Reprint of 1962 Edition. Exact facsimile of the original edition, not reproduced with Optical Recognition Software. If Mises has an unheralded masterpiece, The Ultimate Foundation of Economic Science is it. There are two senses in which this book is indeed ultimate: it deals with the very core of economics as a science, and it is the last book that he wrote. For that reason, it is a real milestone in the history of his work. In this volume, Mises argued that economics is a science because human action is a natural order of life and that it is the actions of humans that determine markets and capital decisions. Since Mises believed these links could be proven scientifically, he concluded that economics, with its basis on that human action, is indeed a science in its own right and not an ideology or a metaphysical doctrine.