Saturday, March 01, 2014

Praxeology And The Seamless Economy!

What does it mean that the divine economy is seamless? Replying succinctly – the equilibrating power is always in operation throughout the economy, at both the micro and macro level.
Another way to answer the question is to recognize that there are no internal disciplines, no fields or subfields. There is no abstract separation from historical events or from politics; they are all happening within the economy. Nor is there a time zone where you enter the long run ‘time zone’ and leave the short run ‘time zone.” It is an all-inclusive continuum.

Since the economy is one whole, there are no non-integrated portions exclusively studied by ‘experts’ that require special tools or devices. Praxeology, a general theory of human action, is the universal tool that can be applied by novice or master to understand the economy.
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