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RE: Econ 101: First Principles (the Elon Musk Method)

in #economics8 years ago (edited)

You're not that far from Mises Praxeology, what is in essence his "first principles" of economics.

It starts with the action axiom: people act in order to satisfy some felt uneasiness. And then goes on about people having to make decisions on how to use scarce resources (economics).

Tom Woods explains it quite well:

These praxgirl videos are also good providing more implications (though she is just a paid actress):