Praxeology

Praxeology is the study of human action, focusing on how people make choices to achieve their goals. It assumes individuals act purposefully, using their knowledge and resources to influence their environment. By analyzing these actions logically, praxeologists uncover fundamental principles of economic behavior, independent of specific data or circumstances. Essentially, it examines why people act the way they do and how their choices create patterns in markets and society. This approach provides a theoretical framework for understanding economic phenomena based on the intentional actions of individuals.