Commentary
The basic principle of praxeology—the study of human action as set forth by the late, great Austrian economist, Ludwig von Mises—is that humans act purposefully—more specifically, we choose from the various options open to us in accord with what we value most highly at any given moment. The goal is alternately described as improving our sense of well-being or, as Mises put it rather awkwardly, to reduce “felt uneasiness.”
