Objectivism versus subjectivism: A market test
AbstractThe terms objective and subjective are considered antonyms, and yet "objectivists", associated with the ideas of Ayn Rand, and "subjectivists", associated with the ideas of Ludwig von Mises, are both associated with the same political philosophy: classical liberalism. There are however important apparent differences between the "objectivist" approach of Rand and the "subjectivist" approach of Mises. Who is right? And which intellectual has the greater place in the classical liberal tradition? We propose to test these questions using data from a unique housing development in Charleston, South Carolina. We find objective evidence in favor of Mises's subjectivism.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 76 (2010)
Issue (Month): 2 (November)
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Web page: http://www.elsevier.com/locate/jebo
Objectivism Subjectivism Rand Mises Real estate;
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