Philosophers of Capitalism is a collection of sixteen
essays by renowned Objectivists and Austrian Economists. Dr.
Younkins has authored four of the essays himself; three are
detailed explanations of the ideas of Menger, Mises, and Rand –
including Dr. Younkins's evaluation of the relevance of each idea
to the libertarian synthesis. The fourth is the last chapter of
the book – "Toward the Development of a Paradigm for a Free
Society" – which presents a comprehensive model of what such a
synthesis might look like.
Dr. Younkins argues
persuasively that Austrian Economics and Misesian praxeology are
compatible with Objectivism once one rejects the Kantian
epistemology behind many of Mises's writings. Dr. Younkins draws
on the ideas of Mises's renowned student – Murray N. Rothbard –
who posits a "broadly empirical" Aristotelian basis for
praxeology, via which one can still have apodictic certainty about
the validity of the action axiom and the economic laws stemming
from it. Dr. Younkins recognizes, however, that Mises's Kantianism
is in many ways superior to Kant's Kantianism; Mises does not deny
the freedom of the "phenomenal self's" will; for Mises, "freedom
[is] the use of reason to attain one's goals" (Younkins, p. 57).
Edward W. Younkins, Philosophers of Capitalism: Menger,
Mises, Rand, and Beyond. Lanham, MD: Lexington Books, 2005.