A Framework Of Leadership Based On Ludwig Von Mises’ Theory Of Purposeful Human Action
Abstract
Mises may be considered one of the most well-known scholars of the Austrian School of Economics, which had been founded by Carl Menger based on his theory of choice: the Subjective Theory of Value (STV). (P. J. Boettke, 2010, bk. xi) Mises elaborated and expanded upon the STV as a foundation for his Praxeology, or theory of purposeful human action. Its aim was to understand economic activity as a process of choice or exchange1 under uncertainty based on a research method of a priori theorizing and methodological individualism2. However, Praxeology was also a basis for understanding social science in general, even if no significant attempts have been made in such a direction.3 Accordingly, this work represents an effort to bring the STV and its associated focus on human choice or exchange to the field of leadership theory through the methodology of Praxeology.
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