≡ Menu

Quotation of the Day…

… is from page 316 of my GMU Econ and Mercatus Center colleague Peter Boettke’s 2012 volume, Living Economics (emphasis original to Mises):

The great Austrian economist Ludwig von Mises tried to capture the differences between the natural and human sciences with the following quip: “You throw a rock in water, it sinks; throw a stick in water, it floats; but throw a man into water, and he must decide to sink or swim.”   Mises was not denying the scientific nature of economics with this tale of human volition.   Rather, he was attempting to get across to his audience the essential defining character of the human sciences – we study man with his purposes and plans.