Economic Quote by Murray Rothbard
“Positivism eliminates any kind of natural law principle - for example, that there are economic laws which can be transgressed only at your peril. With positivism, there is a tendency to leap into ad hoc economic theory.”
About This Quote
Source Book: Man, Economy, and State, Murray Rothbard, 1962
Positivism rejects natural law, treating all economic rules as human-made and mutable, leading to ad hoc theories.
In simple terms: Positivism denies fixed economic laws, encouraging flexible but possibly unstable theories.
Key Takeaway
Question fixed principles, beware of arbitrary theories.
Themes
philosophy
economics
law
Mood
critical
analytical
Type
theoretical
critical
When to use this quote
- policy analysis
- academic debate
- economic modeling
- legal theory
Key Concepts
natural law
positivism
ad hoc theory
Questions to Reflect On
- How do we balance flexibility with consistency?
- What risks arise from discarding natural law?
A Different Perspective
Positivism may ignore empirical constraints, leading to unrealistic models.
![“Just between you and me, shouldn’t the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Less Developed Countries]?... I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that... I’ve always…” quote by Lawrence Summers](https://sms4smile.com/quotes/img-quotes/ac4/lawrence-summers-16940_air_just-between-you-and-me-shouldn-t-the-wo_4703.jpg)
