173. A Deductive Economy Will Not Work In Any Nation

A follower of the economist, Adam Smith,  was Ludwig von Mises. He was born in Austria in 1881, came to the USA in 1940, and died in 1973. He developed  a deduct­ive science (click) of economics based on the belief that Little Gods act in order to achieve desired goals. He concluded that the only viable economic policy for Little Gods was a policy of unrestricted laissez-faire, of free markets and the unhampered exercise of the right of private property, with government strictly limited to the defense of person and property within its territorial area.

Inductive reasoning is the opposite of deductive reasoning and is not generally accepted in science. While deduction begins with the general and ends with the specific, induction takes an idea from the specific to the general. Induction thus goes against the principles of the scientific method but allows me to conduct research on God.

Thomas Dilorenzo,  professor of economics at Loyola University, is a senior member of the Mises Institute. He wrote an article on 'The Founding Fathers of Participatory Fascism.'  (click)  Recently, he spoke of  'Participatiory Fascism: Hamilton, Clay, Lincoln and the Cause of Economic Nationalism.'  He said that this national system was cemented into place during the American “Civil War,” and was the ultimate victory of a political movement that was led at first by Alexander Hamilton, and then by Henry Clay, and then Lincoln.

Essentially, the deductive economy of Mises is based on atheism, physical science, an inactive God, a universe that ends, and a belief that God has a heaven. It is also based on people, who push for States Rights.

The Mises Institute is now outdated because I have found an active Go, who created the universe;  gives us a new life after death; and never ends the universe. So, I am searching for inductive economes.