Academic appeal

Economics Economics Questions
1

So, I was thinking that if Austrian Economics is on a praxeological basis and is axiomatic in nature, someone should be able to rigourize the axiomatic system and put it on a mathematical basis that would far beat current neoclassical psuedomath. I was thinking basing it off of current set theory of something like that.

I’ll admit I’m being fairly naïve here. To see me being more naïve about this, and get a better idea of what I am/was thinking of, go over here: http://www.austrianforum.com/index.php?showtopic=1018&hl=rigourisation .

2

That’s a lot of big words.

3

Well, it looks like it’s halfway there towards a larger academic appeal :p.

4

I don’t consider myself an Austrian but isn’t one of the main strengths of Austrian economics the fact that it uses verbal logic that can be understood by any intelligent laymen? I took a short look at the post you linked too and it looks like you’re on to something. Maybe when I have more time I will take a closer look.

5

I’ve seen another Austrian interested in something like this, but I will admit that I do not see the point.

-Jon

6

Arguably using symbolic logic or mathematical logic can make finding errors easier and make proofs easier to construct. Also it can, in rare cases, uncover previously unknown extensions of theories using different combinations of axioms that can be later retranslated back into verbal logic.

7

True, it does have that benefit.

-Jon

8

It also makes it more appealing to the academia. Austrian economics would appear more mainstream without really losing any of its fundamental principles.