Comments (4)

• Mac

  Didn't Mises think little of Game Theory? It seems the original game theorists, von Neumann and Oskar Morgenstern think more like Austrians.

  As a mathematical discipline travels far from its empirical source, or still more, if it is a second or third generation only indirectly inspired by ideas coming from ‘reality’, it is beset with very grave dangers. it becomes more and more purely aestheticizing, more and more purely l’art pour l’art. This need not be bad, if the ield is surrounded by correlated subjects, which still have closer empirical connections, or if the discipline is under the inluence of men with an exceptionally well-developed taste. But there is a grave danger that the subject will develop along the line of least resistance, that the stream, so far from its source, will separate into a multitude of insigniicant branches, and that the discipline will become a disorganized mass of details and complexities. in other words, at a great distance from its empirical source, or after much ‘abstract’ inbreeding, a mathematical subject is in danger of degeneration.
  -- John von Neumann (quoted in Dore et al 1989, xiv)

  Published: May 13, 2009 9:57 AM

• Mac

  I though y'all would like this too.

  How can one fairly assess a student’s performance if what he says or writes is plainly untenable, even bizarre, and if at the same time he can cite in support a leading economist or two? -- Peter Bauer

  Published: May 13, 2009 10:33 AM

• Inquisitor

  They're often classified as Austrians actually.

  Published: May 13, 2009 11:39 AM

• Michael Wiebe

  Rothbard listed game theory as a category of praxeology in his "Reply to Schuller."

  Published: May 13, 2009 1:15 PM