This thinker used the action axiom as the foundation for his deductive study of human behavior or (*) praxeology, and one of his students further developed his theory that uncontrolled expansion of credit is the cause of the business cycle.
This thinker claimed that social classes are only brought into conflict by the intervention of government in his essay "The Clash of Group Interests." He argued that a socialist government can never set rational prices for goods because all transactions in such a system are internal in his "Economic Calculation in the Socialist Commonwealth." This thinker used the action axiom as the foundation for his deductive study of human behavior or (*) praxeology, and one of his students further developed his theory that uncontrolled expansion of credit is the cause of the business cycle. Also known for The Theory of Money and Credit, for 10 points name this teacher of Friedrich von Hayek, idol of Ron Paul, and author of Human Action, a leading member of the Austrian School of Economics.
This thinker claimed that social classes are only brought into conflict by the intervention of government in his essay "The Clash of Group Interests."
Ludwig von Mises