Name: 2. Knowledge and Value by Mises Institute in Theory and History
Duration: 15 min 9 s
Description: Narrated by John Pruden.

Originally published in 1957, Ludwig von Mises defends his all-important idea of methodological dualism: one approach to the hard sciences and another for the social sciences. He defends the epistemological status of economic proposition. He has his most extended analysis of those who want to claim that there is more than one logical structure by which we think about reality. He grapples with the problem of determinism and free will. And presents philosophy of history and historical research. Overall, this is a tremendously lucid defense of the fundamental Misesian approach to social philosophy. Narrated by John Pruden.

Theory and History

In criticizing the progressive notion of equity, or equality of results, critics of such views embrace an order of “meritocracy.” F.A. Hayek, however, understood that in a free society, inequality is inevitable, and it is something we must accept.

Original article: https://mises.org/mises-wire/why-hayek-rejected-merit-based-equality

Why Hayek Rejected Merit-Based Equality

Mark Thornton joins Scott Horton to discuss the state of the economy, the boom-bust cycle, and why anybody—left, right, and center—who cares about the wellbeing of the working class needs to oppose the existence of the Federal Reserve.

Visit the Scott Horton Show at http://scotthortonshow.com

Be sure to follow Minor Issues at https://Mises.org/MinorIssues

The Boom Bust Cycle and the Federal Reserve

Only a couple years ago, climate change was a major political issue. Now it’s strangely absent from public discourse. Why did this happen? Because, at least for now, it stopped being the most useful way for elites to justify their power grabs.

Read the article here: https://mises.org/mises-wire/what-happened-climate-change

Be sure to follow the Guns and Butter podcast at https://Mises.org/GB

What Happened to Climate Change?

The US economy is hooked on easy money and artificially low interest rates. Huge credit expansions are not “stimulating” the economy; they are destroying it.

Original article: https://mises.org/mises-wire/next-economic-downturn-will-be-here-soon-enough

The Next Economic Downturn Will Be Here Soon Enough

If employment reports continue to show growing economic stagnation, calls for more monetary inflation and government spending will only grow.

Original article: https://mises.org/mises-wire/novembers-weak-jobs-report-pushes-fed-toward-more-monetary-stimulus

November's Weak Jobs Report Pushes the Fed Toward More Monetary Stimulus

Ryan and Josh Mawhorter talk about how Thomas Hobbes, even nearly 400 years later, remains a popular spokesman for almost limitless state power. In fact, by Hobbes’s logic, the world should by ruled by a single global dictatorship. 

Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbard

Radio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug 
PROMO CODE: RothPod for 20% off

Why We Hate Thomas Hobbes

Instead of market competition, inflation forces young and old into rivalrous competition for housing.

Original article: https://mises.org/mises-wire/inflation-and-intergenerational-housing-rivalry

Inflation and the Intergenerational Housing Rivalry

The Minor Issues year-end episode: what 2025 really taught us and what 2026 may bring. Mark Thornton revisits tariffs, inflation, metals, and interest rates; recaps his Bitcoin vs. Gold contest; and explains why a steepening yield curve could arrive even as the Fed cuts short rates. Mark also maps the risks of an un-inversion and why today’s calm in CRE, private credit, and AI capex may mask fragility. Looking ahead, Mark previews the 2026 prediction contest: Stocks vs. Manure.

Be sure to follow Minor Issues at https://Mises.org/MinorIssues

Looking Back and Forth

With employment fundamentals so weak, the real way to increase home sales is to cut prices further. That, of course, is not what sellers want to hear. 

Home Prices and Sales Fall. Can Sellers Count on Lower Interest Rates?

Father Frost (the Soviet Santa Claus) asks: “To whom do we owe all the good things in our socialist society?,” to which, it is said, the children chorus the reply, “Stalin.”

Original article: https://mises.org/power-market/how-soviets-replaced-christmas-socialist-winter-holiday

How the Soviets Replaced Christmas with a Socialist Winter Holiday

Preface by Murray N. Rothbard

Introduction

1. Judgments of Value

2. Knowledge and Value

3. The Quest for Absolute Values

The Mises Institute, founded in 1982, is an educational institution devoted to advancing Austrian economics, freedom, and peace in the classical-liberal tradition. Our website offers many thousands of free books and thousands of hours of audio and video, along with the full run of rare journals, biographies, and bibliographies of great economists.

2. Knowledge and Value

Mises Institute

Related tracks