Pillar I: Foundations
The pillar "Foundations" encapsulates the intricate interplay between human action, human nature, and the state of nature. Understanding human action within the context of market economics involves recognizing the innate drive of self-interested human beings who engage in purposeful behavior to achieve desired ends. Human nature, therefore, becomes a critical aspect, as it shapes preferences, motivations, and the propensity to engage in economic exchange. In exploring the theoretical state of nature, we analyze the implications of human action in the absence of official institutional constraints. It allows for the examination of the emergence of spontaneous order in decentralized systems. Utilizing the praxeological methodology, this pillar deduces economic laws from axiomatic principles rather than empirical observation, offering a deep understanding of market processes. This approach allows for the formulation of universal economic laws based on the inherent logic of human action. Finally, by tracing the evolution of market economic thought, we gain a deeper appreciation for its resilience in the face of statist ideologies.
Keywords: Human Action, Human Nature, State of Nature, Implications of Human Action, Spontaneous Order, Praxeological Methodology, Historical Background