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Praxeology is the distinctive method of the Austrian school of economics, popularized by the economist Ludwig Von Mises. It rests on the [fundamental] axiom that [individual] [human beings] act, that is, on the primordial fact that individuals engage in conscious actions toward chosen goals. This concept of action contrasts to purely reflexive, or knee-jerk, behavior, which is not directed toward goals. Definition provided by the Mises Institute
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